SG Fleet signs agreement to acquire FleetPartners in $1.13 billion deal

FleetPartners Group has entered into a binding scheme implementation deed under which SG Fleet Management proposes to acquire all FleetPartners shares for $5.30 cash per share, implying an equity value of approximately $1.13 billion.

FleetPartners announced the agreement to the Australian Securities Exchange on 19 October 2026. SG Fleet is controlled by funds managed and advised by Pacific Equity Partners.

If completed, the scheme would bring together two established Australian fleet-leasing and fleet-management businesses, potentially changing the competitive landscape for operators procuring vehicles and fleet services. FleetPartners provides services including commercial-vehicle fleet solutions.

Transaction is not yet complete

The acquisition remains subject to conditions including FleetPartners shareholder approval, court approval and relevant regulatory clearances. Until those steps are completed, FleetPartners and SG Fleet remain separate businesses. No changes to Australian customer contracts, service arrangements, employees or locations have been established by this announcement.

Fleet operators and suppliers should therefore treat the announcement as a proposed change of ownership rather than a completed integration.