SG Fleet: A$1.4B Acquisition Completed by PEP

Deal News | May 01, 2025 | Pacific Equity Partners Pty Lt

Pacific Equity Partners (PEP), the oldest and largest private equity firm in Australasia, completed the acquisition of SG Fleet Group Ltd for A$1.4 billion. SG Fleet, established in 2004, is a leading provider of fleet management and leasing services across Australia, New Zealand, and the UK. The acquisition, finalized on April 30, 2025, marks the tenth public-to-private transaction by PEP in Australia and New Zealand, underscoring its dominant market position. SG Fleet manages over 277,000 vehicles, serving corporate and government clients. PEP, with A$14 billion in assets under management and a 28% average Net IRR, received the 2024 Firm of the Year Award from the Australian Investment Council.

Sectors

Private Equity
Fleet Management

Geography

Australia – SG Fleet is based in Australia, and Pacific Equity Partners operates significantly in the Australasian market.
New Zealand – SG Fleet provides services in New Zealand, marking its geographical footprint.
United Kingdom – SG Fleet extends its operations to the UK, illustrating its international presence.

Industry

Private Equity – The acquisition of SG Fleet by Pacific Equity Partners highlights activity within the private equity sector, characterized by investments and takeovers.
Fleet Management – SG Fleet operates in the fleet management and leasing industry, offering solutions for corporate and government vehicle management.

Financials

A$1.4B – Enterprise value of the SG Fleet acquisition by PEP.
A$14 billion – Assets under management by Pacific Equity Partners.
28% – Average Net IRR per annum across closed end funds managed by PEP.

Participants

Name	Role	Type	Description
SG Fleet Group Ltd	Target Company	Company	A leading provider of integrated mobility solutions, fleet management, and leasing services.
Pacific Equity Partners Pty Ltd	Bidding Company	Company	Australasia's largest private equity firm, managing funds that acquired SG Fleet.