Car hire owners treble their cash

SENIOR management at corporate car hire company Nexus are set to cash in as its private equity owners have put it up for sale.

Bowmark wants to sell Nexus for around £150m and has fielded bids from a number of other private equity and vehicle hire buyers, sources told The Mail.

If it manages to attract the £150m price tag, Bowmark and the Nexus bosses who invested in the company’s 2015 management buyout will pocket almost three times their money.

Though Bowmark owns most of Nexus, chief executive David Brennan owns a sizeable stake. Since he took the helm, Nexus’s profits have risen from £2m in 2014 to £4.8m last year.