Acquisition of 1CARES RENTALS by AEMFB Capital Group


Dear Customers and Partners,

As you may already know, on January 15, 2018, we have become a fully owned subsidiary of AEMFB Capital Group, a Swiss investment fund. This exciting milestone in our history is not only a testimony of our success but also a strong indicator of our will to move forward and accelerate our development plans.

I would like to take this opportunity to update you on the key developments that this change of ownership has brought to our organisation.

First, our financial strength is now such that we can proceed with the implementation of a few new projects, more focused and targeted at particular customer needs. In fact, we roll out our two new projects already this year including the one taking our cooperation with our carriers to another level. Two more new projects will be launched in 2019. You will hear about them in due course.

Second, all our treasury functions are now centralised in the shared services centre (SSC) of AEMFB Capital Group in Switzerland. Such centralisation is an important cost saving factor for us and also improves our flexibility in terms of payments since it enables us to receive and make payments in all major currencies. Equally, some support functions (legal, IT, HR) are now directly managed by AEMFB Capital Group.

Third, AEMFB Capital Group as the owner of the business will exercise a supervisory function over all key decision making processes such as capital investments, long term contracts and hiring of managers. However, AEMFB Capital is first and foremost a financial investor and, therefore, commercially we remain an independent entity. Moreover, given that SSC has taken over some of our back-office function we can now dedicate more time and resources to our core activities.

Last but not least, we are now as motivated as ever to grow our business by providing great service to our customers and building value-added long-time relationships with our carriers.

Should you have any questions please feel free to contact any member of our management team including myself.

Yours faithfully,
Alexandre Bogatov, MBA INSEAD,
Chief Executive Officer,
1CARES RENTALS / AEMFB Capital,
Auf der Mauer 8, 8001 Zürich, Switzerland
Email: abogatov [at] 1cares.com
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