Noordlease (Netherlands)

Noordlease from BMW to Noordlease’s management team, NIBC Bank and NOM

We represented the management team of Noordlease in the company’s successful buyout from auto manufacturer BMW.

Founded more than 25 years ago in the Dutch city of Groningen, Noordlease has grown into the largest private car lease company in the Netherlands and the market leader in the north of the country, thanks to a pioneering spirit and innovative concepts such as the Autoborg lease-car resale initiative. CEO Robert Nienhuis and CFO Gert Veenstra ran Noordlease as an independent company with its own branding, IT systems and market approach. When BMW decided to divest Noordlease, Robert and Gert indicated their serious interest in a management buyout.

Our role

We worked very closely with Robert and Gert to define the strategy and tactics that would achieve a successful MBO. We approached potential financial sponsors to not only provide the funding to buy Noordlease’s shares from BMW, but also finance the company’s assets. After an intense process—including an auction filled with competitive bids from other potential strategic and financial buyers—Gert and Robert saw their dream come true. Funding from NIBC and NOM purchased Noordlease’s shares; ABN AMRO and NIBC facilitated the financing of the company’s assets.

What happened next?

Noordlease is now an independent company, with Robert, Gert, NIBC and NOM as its shareholders. The company is expanding its market leadership in the northern part of the Netherlands and growing its private lease business nationwide.