BANKING on an even brighter future with Lloyds TSB!

That's Bury-based First National Vehicle Holdings (FNVH) which has written another chapter in its enviable success story.

To the sound of champagne corks popping, Lloyds TSB autolease officially launched the restructuring of its business following the acquisition of FNVH, based at Windsor House, Hollins Brook Way, Bury.

The launch saw managing director Nigel Stead lead the celebrations as the integrated company stepped into an exciting new era of fleet management.

The acquisition of FNVH and parent company Abbey National Vehicle Finance by Lloyds TSB autolease was completed in April 2002 and was a strategic move based on the complementary nature of the two businesses.

FNVH's strong presence in the public sector, courtesy car and daily rental markets together with Whitechapel, the market leading car ownership scheme brand, provided Lloyds TSB with scale and expertise in new business areas.

his, coupled with Lloyds TSB's strong presence in corporate contract hire, is set to propel the company to an even greater level of success.

The integration means Lloyds TSB autolease is now the largest leasing company in the UK with a portfolio of over 150,000 vehicles. Backed by a multinational bank, Lloyds TSB autolease can offer truly competitive funding, and because of the size and scope of the company, enhanced purchasing power enables them to pass on cost savings to customers.

Lloyds TSB autolease managing director Nigel Stead commented: "The next few months promises to be an exciting time for the company. The launch represents an important step in bringing two businesses together under one brand and culture.

"The integration presents genuine opportunities for employees and provides our customers with a number of benefits which only a market leader can provide, such as unrivalled industry expertise, investment in systems, improved products and more competitive finance rates.

"By harnessing the company's strengths and streamlining the combined business, we are facing the future with even greater confidence in our service, in our products and in our people."

The Bury company's building will be home to key functions such as Whitechapel, public sector, daily rental and courtesy car operations.

The firm began life in 1985 as Elton Vehicle Contracts and traded from premises in Sankey Street, Bury.

It was established to be the financial services division of RRG Group Ltd, a Toyota dealership. Later, it diversified into a wide range of other makes of car.

In 1996 the company, run by managing director Mr Dennis Studholme, was acquired for £9.9 million by Abbey National's consumer finance subsidiary, First National Bank (FNB) and changed its name.

In 15 years, the company saw its fleet grow from 7,000 to 70,000 vehicles and accelerated into the UK list of top ten contract hire and car leasing companies.

The 150-strong staff transferred into the company's 46,000 sq ft premises in Pilsworth in 2000.