In 2014 the Eclipx Group purchased the FleetPlus business to drive customers through a sales funnel which would feed other entities within the vertically integrated finance business. It was a big payday for the original founders of FleetPlus that started the business in 2002 after leaving another finance business that was purchased by ANZ.
History has shown that the vertically integrated model built by Eclipx didn’t work and it was forced to sell Grays Online and Right2Drive so they could focus on the core fleet and novated lease operations. The return to core business was driven by the new CEO, Julian Russell, under a strategic initiative called the Simplification Plan.
Now, with good financial results and a clear vision of the future, Eclipx is initiating a new strategic initiative call Accelerate. The new plan involves removing the duplication of brands, systems and processes to accelerate profitability.
This means FleetPlus (and two other brands) will be retired to make FleetPartners the sole brand in the market.
FleetPlus New Zealand will be the first entity to get a new makeover in followed by a group rebrand in 2023 which will include a new website and other marketing collateral.
Behind the scenes, Eclipx Group will focus on a standardisation of front-end processes for corporate and novated leases FY23/23 before embarking on the rollout of a new ERP system in FY245/25. The project will cost $24 million in CAPEX and deliver $6 million in OPEX savings each year once completed.
Another change coming to Eclipx next year is the new CEO. Julian Russell will handover the reins to Damian Berrell, currently CFO, who will be responsible for implementing the next phase of growth and consolidation for shareholders through the Accelerate Plan.
