Van hire outfit Burnt Tree has Enterprising outlook
Its vans are a common sight not just on Shropshire's roads, but across the UK. In the last few years, commercial vehicle rental business Burnt Tree has become a company of national renown.
But during 2014, the Shrewsbury-based firm, which employs 430 people around the country and 100 in the county town, changed hands in one of the biggest deals of the year.
Now Enterprise, the world's biggest vehicle hire company, has taken control of the Shropshire business, and is set to rebrand it to share the company's name – Enterprise Flex-E-Rent – over the course of 2015.
But according to Danny Glynn, the managing director of the newly merged businesses, that shouldn't be taken as an indicator that the company will be discarding its home-grown identity.
"For just under five years we have been operating in the flexible rentals market, which is where Burnt Tree is a sizeable player," he said. "It was essentially a competitor."
"We approached the owners, and clearly it was the right time for them and for Enterprise.
"It took eight months from the first meeting to the close, which is quite a long time for a deal, and one of the reasons for that is that was the sensitivity the owners showed to their employees.
"We did due diligence on Burnt Tree, and they did due diligence on Enterprise to ensure they would look after the ongoing concern in the future. The aim of the integration is to take the best bits of both businesses, and support them to achieve accelerated growth."
He added: "This acquisition was a real opportunity to take on a business that fits in with the culture of Enterprise.
"We are working through getting an understanding of the brand, but it will become an Enterprise brand in the future. As the company plans to expand into Europe, with the strength of the brand that seems to be the most logical thing for us to do."
Mr Glynn, who joined Enterprise in its accounting arm in 2002, has moved to the area from Sussex to take the helm.
The unified businesses, which will be based out of Burnt Tree's distinctive headquarters on the main entrance route from the north onto Shrewsbury's Battlefield Enterprise Park.
While the company taking over the running of the Shropshire firm is family-owned itself, it justifies its title as the world's biggest rental firm with sheer numbers.
St Louis, Missouri-based Enterprise Holdings achieved revenues of $17.8 billion (£11.35 billion) last year, and runs a fleet of 1.5 million cars around the world.
It employs more than 80,000 people, including 3,500 in the UK, where it now has more than 420 branches, with one near to its newly-acquired partner business in Shrewsbury's Whitchurch Road.
"With the support of our ownership we are able to continue to invest," Mr Glynn added, pointing to a £20 million funding package that has already enabled Burnt Tree to significantly bolster its vehicle fleet.
"There are services that we as Enterprise didn't previously offer before this acquisition. It made so much sense, as we understand the service people expect in this market is totally different to other parts of the rent-a-car market.
"We are very fortunate that despite its size, Enterprise is a decentralised organisation. Decisions will be made here in the UK, and Enterprise is also hugely interested in promoting from within. More than 90 per cent of out promotions are internal, and it's very much an employee-driven culture."