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Nordics: New Shareholder for Athlon Sweden

Athlon and Santander announced the intended sale of Athlon Sweden in a joint press release.

Grupo Santander has set out to become a complete provider of leasing products in all channels and is establishing a full-service leasing business organization. To further expand the leading presence in its respective markets, Santander Consumer Finance (SCF) is now accelerating the ambition and advancing the progress by acquiring the fleet company, Athlon Sweden AB, which is part of Mercedes-Benz Mobility.

Different lease cars on parkinglot

    New opportunities and capabilities

    The acquisition will allow SCF to obtain a well-established team of employees that have the relevant know-how and capabilities to run a complete operational leasing and fleet management business. Athlon Sweden is part of Mercedes-Benz Mobility and based in Malmö with a sales presence in Stockholm. It has 27 employees and is a relatively small player but has grown rapidly over the last five years under a strong management team. At present, the company has a portfolio of 5.200 cars and vans and holds #9 market position in Sweden.

    Ignacio Barbadillo, global head of Leasing in Santander Consumer Finance S.A., says “Acquiring Athlon Sweden enables SCF to develop a Nordic leasing competence hub to support Nordic and European business expansion through establishment of a full fledge factory, and it supports the acceleration of the operational lease strategy in the Nordics.”

    Christian Schüler, CEO Athlon: “As Athlon Group we will focus our own activities and investments on markets outside of the Nordics. We are pleased that Santander Consumer Finance trusts the expertise of the Athlon Sweden colleagues and are committed to serve the customers with the same team after the closing. In addition, Santander will join our partner network, which ensures a smooth transition for our international customers as well.”

    Morten Handsdal, Managing Director Athlon Sweden: ”We look forward to continuing our growth path with all our team members, our customers and partners. I am pleased that we will be able to create a seamless transition for all our customers and to contribute to the success of Santander Consumer Finance right from the start.”

    Developing a Nordic leasing competence hub 

    The synergy opportunities from leveraging Santander purchasing power and dealer and OEM networks, creates a positive environment for selective growth for SCF in the Nordics. With an expanded product suite, SCF will be able to provide a wider range of mobility services to customers and partners.

    More information about the plans and business development within the area can be expected in connection with the formal closing of the deal expected to take place in H1, pending approvals from competition authorities.