Ryder acquires Pit Stop Fleet Service in deal seen as having synergy benefits

Ryder System (New York Stock Exchange: R) announced Monday that it has entered into an agreement to acquire Pit Stop Fleet Service for an undisclosed amount.

Pit Stop was described as a business that offers retail mobile commercial fleet maintenance services, including battery, tire and transmission repairs, preventative maintenance and breakdown repairs. assistance.

The agreement is expected to expand and strengthen Ryder(R) Torque by Ryder’s retail mobile maintenance business offering, accelerating the growth of the product solution.

The transaction is subject to customary closing conditions. The deal is expected to add approximately $24 million in gross revenue to Ryder’s Torque by Ryder business in 2025 and provide additional earnings growth for Ryder. Ryder also expects the transaction to create synergies and benefit both Ryder and Pit Stop customers.

“With our complementary retail mobile fleet maintenance services across various industries and markets, we now realize even greater economies of scale and offer unmatched flexibility for fleets requiring rapid maintenance services,” said Tom Havens, president of Fleet Management Solutions at Ryder.

With this latest acquisition of Ryder(R), the company’s retail mobile maintenance services will be available in 140 markets across 20 states.