Lex is the United Kingdom's (UK) largest vehicle leasing

Vehicle leasing

Vehicle leasing is the leasing a motor vehicle for a fixed period of time. It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a highly cost-effective method of acquiring vehicles for business, without the usually needed cash outlay...

 business with a fleet of circa 260,000 vehicles. Formerly known as "Lex Vehicle Leasing" it is now owned 100% by Halifax Bank of Scotland (HBOS

HBOS

HBOS plc is a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group having been taken over in January 2009...

), after the former bought the remaining 50% share capital from Aviva

Aviva

Aviva plc is a global insurance company headquartered in London, United Kingdom. It is the sixth-largest insurance company in the world measured by net premium income and has 53 million customers in 28 countries...

 Plc on 31 May 2006. Lex has been Hugely successful in the last few years, taking on a number of large 'white label' contracts such as HSBC Vehicle Finance and Ford Business Partner.

Lex hit the news recently when it signed a 5 year deal with Rentokil Initial

Rentokil Initial

Rentokil Initial is a major British business services group. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.-History:...

. Lex will take over responsibility for managing Rentokil Initial’s UK fleet of 6,000 vehicles to include an initial 2,500 vehicle sale and leaseback.