Leeds-based Nexus operates an asset-light business model, providing a broad range of corporate, credit hire and leasing customers with access to the UK’s largest rental supply chain, with 550,000 vehicles across 2,000 locations through its proprietary IRIS tech platform. Since inception 22 years ago, the company’s sustained growth has spurred it on to become one of the UK’s leading tech-driven business mobility providers, having reached over 4 million rental bookings in 2022.

Since Phoenix invested in 2018, Nexus has experienced strong growth and demonstrated its resilient business model through the pandemic. Nexus has recently diversified into the plant hire and taxi market, as well as investing further in Nexus Connect, a unique mobile application that streamlines the rental process for end-users whilst on the move. Nexus is also planning to launch several other product developments in 2023 to support the changing mobility requirements of its customer base.

Travers Smith advised Phoenix on its original investment in Nexus in August 2018.

The Travers Smith team was led by Private Equity & Financial Sponsors Partner Ian Keefe, supported by Senior Associate James Sherlock, Associate Mike Asprou and Trainees Charlotte Mantell and Navi Suglani. Specialist Tax advice was given by Partner Russell Warren and Senior Associate Silvana Van der Velde.