NEXUS RENTAL
Leading B2B vehicle and plant hire solution Nexus Rental has reported a very strong financial year, supported by the onboarding of one of its largest clients to date, Lex Autolease, and ongoing investment in its industry leading tech platform, Iris®.
Gross revenues have increased 30% to £249m, through growth in both existing and new customers. Net revenues also increased by 18%, with EBITDA following a similar path. The latest figures mark over 10 years of consecutive revenue growth.
The business, which this year celebrated its 25th anniversary, provides users with over 500k vehicles, 100k plant vehicles and 50k HGVs from 300+ UK suppliers. Through the last 12 months the team has grown by more than 50 new members of staff, including a Chief Operating Officer, Chief Revenue Officer, Chief Technology Officer and Chief People Officer. The business has also won the prestigious BVCA Vision 2025 award alongside being shortlisted for a number of other industry accolades. A brand-new HGV proposition was also launched in recent months, following the initial full rebrand in 2024.
Alex Cook, Chief Financial Officer at Nexus, commented: “This year’s performance really highlights the importance of pairing a scalable technology platform with proactive investment and a strong team. This enables us to continue the great relationships and service to existing clients, alongside strong supplier partnerships and further enhancements to our Iris® platform.”
“Alongside the tech investment, we’ve also put a lot of focus into strengthening the team across the business. Our board includes several key industry players who are ready to drive Nexus forward into the next stage of growth. The strong financial results underscore our proactive approach and I’m excited for the next 12 months and years ahead.”
Looking to the 25/26 financial year, Nexus is aiming for another year of double-digit growth, and the pipeline of future opportunities is at record levels. Nexus is also looking to begin laying the groundwork for international expansion, as well as further enhancing the UK arm of the business.