Redde Northgate to change name to Zigup

The FTSE 250 firm, which specialises in commercial vehicles, said the proposed name change was allied to its refreshed strategic framework and a recent UK and Ireland-focused management reorganisation.

It continued: “The board believes that a more modern brand and name reflecting these changes will help shift the narrative with our stakeholders towards the strategic director of travel we set out.

“This is aligned to our updated purpose, ‘to keep customers moving, smarter’.”

It noted there would be no change to its “well-recognised” operational brands, however, “which have meaningful market profiles in their specialist areas”.

The company, which was created in 2020 after motor insurance services firm Redde merged with fleet hire specialist Northgate, will now seek shareholder approval for the change at a general meeting on 15 May.

Should the proposed change secure investor backing, the roll-out of the new brand will get underway on 20 May.