Fleetio Acquires Auto Combine in Bid to Streamline Fleet Upkeep – Operations
Fleetio is dedicated to substantial investments in analysis and growth to reinforce Auto Combine’s platform additional and to combine its performance inside the Fleetio ecosystem.
Fleetio introduced the acquisition of Auto Combine, a upkeep authorization platform, in a landmark deal finalized by closing over $450 million to finance the acquisition, valuing the mixed enterprise at over $1.5 billion.
The spherical was co-led by current Fleetio investor Elephant and new investor Progress Fairness at Goldman Sachs Alternate options.
In line with an organization assertion, this union creates a customer-centric platform that serves fleet operators of all sizes throughout North America. The mixed entity will service over 8 million automobiles and course of over 13 million restore orders yearly by its community of 110,000+ restore retailers throughout the USA, Canada, and Mexico.
“This acquisition is transformative for our capability to equip clients with the only and most effective answer for fleet upkeep and administration,” mentioned Jon Meachin, CEO of Fleetio. “By bringing collectively Fleetio’s complete fleet optimization capabilities with Auto Combine’s specialised upkeep authorization community, we’re creating a really customer-focused, end-to-end answer that addresses essentially the most crucial ache factors fleet operators face as we speak.”
How Auto Combine’s Software program Will Assist Fleetio’s Choices
Auto Combine’s software program permits restore retailers to electronically submit restore orders for approval, dramatically decreasing automobile downtime and bettering operational effectivity.
This functionality will absolutely combine with Fleetio’s complete platform, making a seamless expertise for companies managing advanced upkeep operations.
“From day one, our focus has been on one easy query: how can we create essentially the most worth for our clients?” mentioned Fleetio Founder and Board Chair Tony Summerville. “Bringing Fleetio and Auto Combine collectively is a game-changer for each fleets and restore retailers, guaranteeing a seamless, extra related upkeep expertise. Whether or not a store does just a little or a whole lot of fleet enterprise, this mixture eliminates friction and makes it simpler than ever for outlets to work with extra fleets.”
“Our clients have persistently requested for a extra built-in method to upkeep administration,” mentioned Terry Bartlett, CEO of Auto Combine, who will be a part of Fleetio’s government management staff. “By becoming a member of forces with Fleetio, we’re in a position to ship precisely what they want.”
Fleetio is dedicated to substantial investments in analysis and growth to reinforce Auto Combine’s platform additional and to combine its performance inside the Fleetio ecosystem. These investments will instantly profit current Fleetio and Auto Combine clients, together with Fleet Administration Firms (FMCs), rental automobile operators, restore retailers, and different distributors, whereas increasing capabilities for Fleetio’s rising buyer base.
“Jon, Tony, and Terry are sensible enterprise operators. Combining their two firms creates an unlimited dataset of upkeep operations that may unlock distinctive insights into fleet upkeep tendencies and predictive upkeep alternatives,” mentioned Brendon Hardin, vice chairman of Progress Fairness at Goldman Sachs Alternate options, who can be becoming a member of the Board. “This isn’t nearly rising the enterprise — it’s about Fleetio’s unwavering dedication to buyer success.”
“Fleetio’s strategic acquisition of Auto Combine represents exactly the form of transformative alternative Elephant seeks to assist, one which basically elevates the shopper expertise by combining highly effective, complementary applied sciences,” mentioned Jeremiah Daly at Elephant.
“We’re excited to deepen our partnership with Fleetio as they proceed to redefine what’s attainable in fleet upkeep and proudly assist their imaginative and prescient for a streamlined, end-to-end ecosystem that enhances operational effectivity for North America’s fleets,” Daly mentioned.
