Investor consortium LP Group BV has completed its acquisition of LeasePlan NV for $4.05 billion (3.7 billion euro), the fleet management company has announced.

LP Group BV acquired the global Dutch fleet management company from Global Mobility Holding BV, a joint venture of Volkswagen AG and German banker Friedrich von Metzler who each held a 50% stake.

"Today marks the start of a new era for LeasePlan," said Vahid Daemi, LeasePlan's CEO and chairman. "Our new shareholders fully support our growth ambitions and our long-term strategy to provide high-quality and leading-edge driver mobility solutions to our clients worldwide."

The consortium is made up of six investors, including the Abu Dhabi Investment Authority's Luxinva SA, Danish pension fund ATP, Singapore-based investment firm GIC, the Merchant Banking Division of Goldman Sachs, Dutch pension fund PGGM, and London-based private equity firm TDR Capital.

LP Group BV financed the acquisition with equity covering half the purchase price and several debt instruments including a mandatory convertible note of $536 million (480 million euro) and senior secured notes comprising of euro-denominated senior secured notes due in 2021 and U.S. dollar-denominated senior secured notes due in 2021 amounting to approximately $1.78 billion (1.6 billion euro).

"We are excited to have completed the acquisition of the market leader in global fleet management and driver mobility," said Manjit Dale, founding partner at TDR Capital LLP. "We strongly believe in the future of LeasePlan, a company with an unmatched portfolio of market-leading assets, loyal clients, a highly dedicated employee base and a sound strategy for the future, under highly experienced management. We all look forward to supporting the management team as they continue their focus on growing the business."

Earlier this year, LeasePlan NV reached a milestone of 1.55 million vehicles under management. The change in ownership isn't expected to affect LeasePlan's U.S. fleet management unit.