URA Ventures Limited, now trading as GKL Leasing, has acquired Total Motion Limited (TML) for an undisclosed amount. Both companies are authorized by the Financial Conduct Authority.

The acquisition establishes a partnership between two family-owned vehicle leasing businesses, aiming to benefit from each other’s best practices while focusing on customer relationships and service quality.

TML, founded in 2003, operates the Pink Car Leasing brand and is described as a well-respected business. The existing management team will remain in place to oversee operations and maintain client relationships.

GKL Leasing, owned by James and Anthony Kenning, represents the fifth generation of a business lineage dating back to 1878. Richard Kenning serves as Non-Executive Chairman.

Senior managers Simon Blake, John Stevenson, and Tim Norton have made long-term contributions to GKL’s Board.

During the transition, Robert Sayers, a director of GKL Leasing, will act as Interim Group Managing Director with Board support.

The transaction is seen as an opportunity for both businesses, their staff, and customers.

Read more at Yahoo Finance: GKL Leasing acquires Total Motion for undisclosed amount