We’re pleased to announce that we have completed our recapitalisation transaction, strengthening our balance sheet and extending the Group’s debt maturities, providing us with a stable and sustainable financial position to execute our strategy. 📈 The recapitalisation includes an equity contribution of c.£100 million from our majority shareholder, Bridgepoint Group. Richard Jones, Zenith CEO, said: “We have an ambitious strategy for growth centred on being the UK’s most customer-focussed fleet partner and this recapitalisation increases the Group’s financial flexibility to support delivery of our long-term strategic objectives. 🧠
Today we have announced the appointment of Richard Jones as our new Group Chief Executive Officer (CEO), subject to FCA approval. Richard has 10 years’ direct experience in leasing and vehicle finance, having been Managing Director of Blackhorse and Lex Autolease at Lloyds Banking Group, and more recently, Managing Director at MotoNovo, part of the Aldermore Group. He will join Zenith during Q1 2025. Richard said: “Working in the automotive sector for a number of years, I’ve always admired Zenith. The company has an impressive reputation for delivering for its customers, and has enjoyed sustained growth, as well as being an award-winning employer with a strong culture focused on inclusion and performance. "I look forward to working with the Zenith team to build on the many successes achieved to date, and to unlock the exciting opportunities ahead of us.” We look forward to welcoming Richard when he starts next year!
