Saughter and May is advising Paragon Banking Group PLC on the sale of its vehicle and fleet subsidiary

Saughter and May is advising Paragon Banking Group PLC (“Paragon”) on the sale of its vehicle and fleet subsidiary, Specialist Fleet Services Limited (“SFS”), to NRG Fleet Services Limited for £85.6 mn, including the settlement of SFS’s intra-group debt. The sale is expected to complete in July 2026.

SFS is a specialist business within Paragon's Commercial Lending division, supported by a substantial operating infrastructure of people and workshops, focusing on municipal vehicle support and leasing to local authorities and private waste operators.

Saughter and May is working closely with Paragon’s General Counsel and Company Secretary, Marius van Niekerk.