Ryder's Strategic Acquisition Strengthens Its Mobile Fleet Maintenance Capabilities

Ryder System, a leading provider of fleet management and supply chain solutions, has announced the acquisition of Pit Stop Fleet Service, a mobile fleet services company based in Venice, Florida. This strategic move aims to bolster Ryder's growing mobile repair business, Torque by Ryder, and expand its reach across the Southeastern United States.

Unlocking New Opportunities in the Fleet Maintenance Landscape

Expanding Torque by Ryder's Footprint and Expertise

The acquisition of Pit Stop Fleet Service will significantly enhance Ryder's mobile repair capabilities through Torque by Ryder. Pit Stop, founded in 1997, specializes in providing preventative maintenance, repairs, and breakdown assistance to fleets across eight states in the Southeastern region. By integrating Pit Stop's operations and employees into Torque by Ryder, Ryder will gain access to a broader customer base and a deeper pool of skilled technicians.This strategic move aligns with Ryder's goal of offering unparalleled flexibility and swift maintenance services to its clients. The combined expertise and resources of Ryder and Pit Stop will enable the company to provide even greater economies of scale and a more comprehensive suite of mobile fleet services to its diverse customer base.

Enhancing Ryder's Competitive Edge in the Fleet Maintenance Market

The acquisition of Pit Stop Fleet Service is a significant step in Ryder's ongoing efforts to strengthen its position in the fleet maintenance market. By expanding the coverage map of Torque by Ryder to 140 markets across 20 states, the company is poised to offer its clients a more extensive network of mobile repair services.This expansion will enable Ryder to better serve its existing customers while also attracting new clients who require swift and reliable maintenance solutions for their commercial trucks, trailers, vans, and other vocational vehicles. The increased scale and geographic reach will provide Ryder with a competitive advantage, allowing it to offer unparalleled flexibility and responsiveness to its clients' fleet maintenance needs.

Leveraging Synergies and Expertise for Mutual Benefit

The integration of Pit Stop's operations and employees into Torque by Ryder is expected to be a seamless process, with the co-founders of Pit Stop, Ron and Connie Perry, providing support during the transition. This collaboration will ensure a smooth integration of the two companies, allowing Ryder to fully capitalize on the expertise and customer relationships that Pit Stop has built over the years.By combining Ryder's extensive resources, industry knowledge, and technological capabilities with Pit Stop's specialized mobile fleet services, the merged entity will be well-positioned to deliver enhanced value to its customers. This strategic acquisition will not only strengthen Ryder's mobile repair offerings but also provide new growth opportunities for the company's fleet management solutions business.

Driving Financial Synergies and Shareholder Value

The acquisition of Pit Stop Fleet Service is expected to be accretive to Ryder's earnings, with the deal adding approximately $24 million in annual gross revenue beginning next year. This financial impact, coupled with the operational and strategic benefits of the acquisition, will contribute to Ryder's overall financial performance and shareholder value.Ryder's strong financial position and its ability to integrate acquisitions effectively will play a crucial role in ensuring a successful integration of Pit Stop's operations. The company's commitment to delivering exceptional fleet management and supply chain services will be further reinforced by this strategic move, solidifying its position as a leading provider in the industry.