Tuskerdirect Limited

Tuskerdirect Ltd
Industry Automotive
Founded 2000
Headquarters Watford
Area served
 United Kingdom
Key people
 Richard Prosser (Chairman), Paul Gilshan (CEO), Laura Alexander (CFO)
Services Salary Sacrifice Cars, Company Cars, Fleet Management Services
Number of employees
 200
Website tuskerdirect.com

Tusker is a car benefit company based in the United Kingdom offering salary sacrifice cars, company cars and fleet management services. The business was founded in 2000 with the aim of developing the corporate fleet lease industry by taking it online.[1] In 2008, Tusker extended its services to include a salary sacrifice car scheme. The company ranks 13 in the 2015 FN50 Top 50 Contract Hire and Leasing Companies in the UK.[2] The business has over 200 corporate customers with a corporate base covers over 370,000 employees across the UK and the company currently operates a fleet of over 18,500 vehicles.[3][4]

History

Tusker was founded to supply contract hire and leasing cars through an online platform with lead investor Smedvig Capital, a London-based venture capital firm. In 2005, Smedvig almost doubled their investment in Tusker, increasing their shares from 49-93%.[5] When the recession hit in 2008, the business changed focus and now concentrates on providing a salary sacrifice car scheme, the first of which was launched in 2008 with multinational law firm Freshfields Bruckhaus Deringer. By offering salary sacrifice schemes, corporate customers can provide their employees with a car benefit scheme. Employees offset part of their salary each month before it gets taxed in exchange for a new car complete with road tax, car insurance, breakdown cover, MOT and car servicing, employees continue to pay for fuel.[6] In 2012, Tusker secured funding from Barclays to finance the expansion of their fleet.[7] In the same year, the company established links with the Teenage Cancer Trust who they continue to support regularly through various fundraising events, such as Tough Mudder and donations of Easter eggs to young patients.[8] In October 2013, Tusker introduced a Carbon Offsetting Project with the aim of having a fleet composed solely of carbon neutral cars by 2017.[9] In partnership with Carbon Footprint Ltd, all of Tusker's customers' drivers choose a Verified Carbon Standard carbon offsetting project to compensate for their CO2 emissions through funding an equivalent carbon dioxide saving elsewhere.[10] Drivers have a choice of three projects, a Landfill Gas Project in Indonesia, a Wind Power Project in India and a Hydroelectric Project in Chile. These initiatives not only counteract carbon emissions, but also help to support the local communities and all meet the Quality Assurance Standard for Carbon Offsetting. During 2014, Tusker offset 30,000 tons of tailpipe carbon emissions.[11] 2014 saw Tusker renew their government framework agreement with North Yorkshire County Council, originally secured in 2010, allowing them to provide salary sacrifice car schemes to the local authorities. Also in 2014, Tusker's CEO David Hosking began a campaign for the amendment of the School Teachers' Pay and Conditions Document. Teachers in state maintained schools in the UK are not eligible for company cars through the salary sacrifice scheme, despite being allowed involvement in similar schemes for childcare benefits and cycle equipment. The company continued their campaign into 2015, but is yet to see a revision of the document permitting teachers access to the scheme, even though they have accrued support from 22 MPs and more than 1,200 teachers who have signed an online petition.[12] In 2015, following the exit of Smedvig Capital, the company formed a new partnership with ECI Partners who continue to back the firm.[13]

Awards

  • 2015: Finalist in the 'Ecommerce Business of the Year, Medium-Large' category at the Digital Entrepreneur Awards.[14]
  • 2015: Winner of 'Best Car Scheme - UK' at the AI Business Excellence Awards.[15]
  • 2015: Winner of 'Growing Business of the Year: Larger Sized Company' at the Growing Business Awards.[16]
  • 2015: David Brockwell (Tusker's CFO) wins CFO Award.[17]
  • 2015: David Hosking (Tusker's CEO) wins 'UK Game Changer of the Year' at the ACQ Global Awards and Tusker wins 'UK Tax Initiative of the Year' at the same event.[18]

References

  1. ↑ "http://www.smedvigcapital.com/portfolio/tusker/" Retrieved 10 June 2016.
  2. ↑ "http://www.fleetnews.co.uk/fleet-leasing/fn50-data/"
  3. ↑ "ECI Partners invests in Tusker following Smedvig exit", growthbusiness.co.uk, 20 February 2015. Retrieved 10 June 2016.
  4. ↑ "http://www.fleetnews.co.uk/fleet-leasing/fn50-data/", 30 October 2015. Retrieved 13 June 2016.
  5. ↑ "Smedvig Capital takes control at Tuskerdirect", fleetnews.co.uk, 09 February 2006. Retrieved 13 June 1016.
  6. ↑ https://www.employeebenefits.co.uk/issues/march-2014/all-employers-need-to-know-about-car-salary-sacrifice-schemes/
  7. ↑ "Tusker secures funding from Barclays", fleetnews.co.uk, 17 December 2012. Retrieved 13 June 2016.
  8. ↑ "Tusker's generous Easter donation", teenagecancertrust.org 18 March 2016. Retrieved 13 June 2016.
  9. ↑ "Tusker wins Green Apple Award for environmental initiatives", 08 October 2014. Retrieved 14 June 2016.
  10. ↑ "Tusker introduces new green initiatives", 01 September 2014. Retrieved 14 June 2016.
  11. ↑ "Tusker achieves ISO 14001 environmental accreditation", 10 February 2015. Retrieved 14 June 2016.
  12. ↑ "Tusker steps up campaign for teachers to be offered car salary sacrifice", fleetnews.co.uk, 17 March 2015. Retrieved 13 June 2016.
  13. ↑ "ECI Partners invests in Tusker following Smedvig exit", growthbusiness.co.uk, 20 February 2015. Retrieved 10 June 2016.
  14. ↑ "https://www.digital-entrepreneur.co.uk/finalists.html" Retrieved 13 June 2016.
  15. ↑ "http://www.acquisition-intl.com/2015-tuskerdirect-ltd" Retrieved 13 June 2016.
  16. ↑ "http://realbusiness.co.uk/article/32518-the-2015-growing-business-awards-winners-face-the-camera" Retrieved 13 June 2016.
  17. ↑ "http://www.finance-monthly.com/magazines/FMCFOA15/" Retrieved 13 June 2016.
  18. ↑ "http://www.fleetnews.co.uk/news/fleet-industry-news/2015/10/27/salary-sacrifice-supplier-tusker-does-the-double-at-acq-global-awards" Retrieved 13 June 2016.
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