Element Fleet Management Proposes A$820 Million FleetPartners Acquisition

Element Fleet Management Corp. has submitted a non-binding proposal to acquire FleetPartners Group Limited for approximately A$820 million (US$578 million). The offer is valued at A$3.80 per share in cash, which represents a 34.3% premium over the share price as of July 31, 2026.

To expedite the deal, Element offered to raise the price to A$4.00 per share if the FleetPartners board agrees to a process deed by August 11, 2026. This agreement would grant Element three weeks of hard exclusivity for due diligence. The transaction is intended to be structured as a Scheme of Arrangement under the Corporations Act 2001.

Element already maintains a presence in Australia and New Zealand through its subsidiary, Custom Fleet. The proposal remains subject to due diligence and necessary regulatory and shareholder approvals.