A pair of developments from the fleet world arrived on Wednesday.
First, Holman announced the acquisition of Park Wood Managers, a leading underwriter and insurance provider for commercial trucking fleets.
Then, the NAFA Fleet Management Association (NAFA) recognized the 2022 graduates of its Certified Automotive Fleet Manager (CAFM) program.
Executives highlighted the addition of Park Wood Managers and the company’s portfolio of business assets allows Holman to expand the scope of its commercial underwriting and alternative risk services to offer automotive liability insurance coverage for high-hazard medium-duty, heavy-duty and extra heavy-duty commercial vehicles.
“The Park Wood Managers team has a profound understanding of this extremely complex niche of the market and brings to Holman a well-established underwriting operation with an impressive track record of success,” said Rob Bartholomew, general manager of insurance services at Holman.
“This acquisition is poised to be an integral element of our long-term strategy for sustained growth and allows us to leverage Holman’s extraordinary financial stability to provide comprehensive risk mitigation solutions for fleet operators in this segment of the industry,” Bartholomew continued in a news release.
With the acquisition of Park Wood Managers, Holman is now the program manager of the Park Wood Risk Retention Group (RRG), which will be rebranded as Holman Transportation Risk Retention Group.
Holman said it is now able to provide comprehensive automotive insurance coverage and commercial risk mitigation services for the entire range of commercial fleet vehicles, regardless of fleet size, industry, or asset type.
Additionally, through this acquisition, Holman said it is now able to offer its customers the added protection of an A-minus rated cut-through endorsement backed by one of the industry’s leading carriers.
“For owners and operators of commercial fleets with high-hazard vehicles, finding affordable and reliable liability coverage is often a significant challenge,” Bartholomew said. “As a result of this acquisition, we’re now positioned to combine our extensive insurance and risk mitigation capabilities with Holman’s unsurpassed fleet management expertise to offer fleet operators a seamless, all-inclusive solution for protecting their vehicles, their people, and their business while also controlling their total cost of ownership.
“We believe this innovative solution fills a significant gap in the transportation insurance market and offers something truly unique to fleet operators,” he went on to say.
To learn more about Holman’s lineup of insurance and alternative risk solutions as well as the company’s holistic fleet management services, visit Holman.com.
2022 Certified Automotive Fleet Manager graduates
In other industry news, NAFA highlighted the professionals who completed its eight-module program that offers current fleet management education and has been identified as one of the top 10 certifications for increasing salaries.
“We are thrilled to celebrate the incredible graduates of our 2022 CAFM Program,” NAFA board president Raymond Brisby said in a news release. “This dedicated group of fleet management professionals are ready to leverage their skillsets to promote innovation within the industry, and we are excited to see where their careers take them. Congratulations, graduates!”
The 2022 CAFM graduates will be bringing their fleet expertise to more than 25 different organizations, ranging from colleges and cities to public schools and insurance companies. You can see a full list of the graduates on this website.
This year’s class comes from 17 states and three countries, representing a variety of different roles within the industry such fleet managers, fleet service consultants, fleet coordinators and business leadership positions.
For more than 35 years, NAFA has brought cutting-edge educational content to industry professionals through the CAFM program. The 2022 CAFM graduates will be recognized this year at NAFA’s Institute & Expo (I&E) on tap for April 17-19 in Baltimore.
During the 2023 Institute & Expo, industry professionals can attend CAFM Live, a live instruction experience covering all eight CAFM certification modules. CAFM Live accelerates preparation for CAFM program examination by putting candidates on the path to successful certification.
Interested participants can register via this website.
Perhaps some upbeat news about what could be classified as the used-car manufacturing front.
Cox Automotive chief economist Jonathan Smoke reported on Monday that combined new-model sales into large rental, commercial and government fleets rose 55% in November compared to a year ago.
In what might be good for used-vehicle inventory availability down the road, Smoke indicated …
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Mike Albert opened the week by naming a new president on Monday, welcoming Marty Kuhn, who the fleet, leasing and management services company said is a strategic leader with nearly 20 years of experience in both the direct-to-consumer and business-to-business spaces.
The company also said through a news release that Marty Betagole will remain in place as its chief executive officer.
Mike Albert indicated Kuhn will develop and implement the company’s corporate vision and provide strategic leadership across Mike Albert’s distinct business units (fleet, rental and sales and service). He will also be responsible for continuing to grow the company in a sustainable manner while maintaining Mike Albert’s standards of quality, efficiency and productivity.
“We are very excited to have Marty joining our team. His significant financial experience and his passion for innovation align well with our culture, and in particular, our values of being ‘financially fixated’ and ‘what got us here won’t get us there,’” Betagole said in the news release. “We are confident Marty will lead us forward to further growth and evolution.”
A self-described “CFO-Plus,” Kuhn brings a wealth of expertise in developing financial growth strategies that leverage technology and people. Most recently, he served as the president of TEMPOE & SmartPay in Cincinnati, where he led a strategic shift toward e-commerce, digital marketing, and technological advancements to drive growth during the pandemic.
“I am beyond thrilled to be joining the Mike Albert team — an incredible group of innovative, dedicated professionals who are passionate about providing top-quality service to their clients,” Kuhn said. “The opportunity to build on Mike Albert’s many decades of success is an honor, and I look forward to helping guide this organization to continued success.”
For more information about Mike Albert, visit www.MikeAlbert.com.
Cox Automotive Mobility Fleet Services shared the latest update associated with Service 360 maintenance management program
The company said on Monday that Service 360 is being piloted with several fleet customers with additional expansion planned for later this year.
Cox Automotive Mobility Fleet Services highlighted the Service 360 maintenance program can allow fleet operators to focus on their day-to-day responsibilities while company experts schedule, repair and manage all fleet maintenance needs.
The Cox segment includes more than 1,100 technicians, nearly 800 mobile-service trucks and more than 25 shop facilities
In addition, Cox Automotive Mobility Fleet Services has 24/7/365 dispatch center designed to deliver a more flexible and efficient workflow, covering inbound calls related to warranties, repair history and scheduling.
“Cox Automotive Mobility's digital-first suite of fleet solutions provides advanced capabilities and service footprint to maximize the value of every fleet asset's complete life cycle,” said Alex Fraser, AVP of fleet operations with Cox Automotive Mobility.
For more information on the Cox Automotive Mobility Fleet Marketplace and Service 360, visit www.CAMFleetOperations.com.
The investment community continues to push funds into the fleet sector.
On Tuesday, Castlelake, a global alternative investment manager with approximately 17 years of experience investing in asset-rich opportunities, announced that as part of its income investing strategy, it has reached an agreement to provide up to $155 million in fleet financing to Voyager Global Mobility (VGM), a leading provider to the smart mobility marketplace.
The financing is earmarked for the acquisition of more than 3,200 vehicles to rideshare, car-share and micro-mobility driver-subscribers in the United States and Latin America.
“We believe this financing will enable VGM to meaningfully address a supply shortage while providing drivers with more flexible solutions and a wider range of vehicles, including those that are handicap accessible,” said Armin Rothauser, who is partner of asset-backed direct lending at Castlelake.
“Through this transaction we are also pleased to obtain exposure to what we view as a compelling income investment opportunity within the fast-growing mobility market,” Rothauser continued in a news release.
VGM aims to address the ride-hailing vehicle supply gap by providing short-term subscriptions to drivers who either do not own a car or need a vehicle when their own car is out of service.
Currently, VGM operates a fleet of just under 10,000 vehicles across 20 cities in the U.S. and Mexico. VGM is aggressively expanding its business domestically and international through acquisition and internal growth.
“Castlelake’s financing expertise and ability to embrace complexity have been a tremendous asset throughout our relationship, and through this financing we are pleased to be able to nearly double our fleet of vehicles around the globe,” VGM chief financial officer Wayne Ackerman said in the news release.
“We look forward to taking our operations to the next level and to providing more drivers and our transportation software partners with professionally managed vehicles,” Ackerman added.
Castlelake has completed more than $3 billion of specialty finance investments since 2015, including a recent agreement to acquire up to $400 million of diversified equipment loan and lease receivables. Its specialty finance activity has also included acquiring or financing more than 3,500 commercial and industrial loans and over 5 million consumer receivable accounts.
Castlelake launched its asset-backed direct lending strategy in 2020 and has since provided nearly $3 billion in loans to borrowers.
EA Markets served as exclusive financial advisor and placement agent to VGM on the transaction.
A new kind of license plate now is available for fleets based in the Lone Star State
Reviver, a technology company and developer of the digital license plate, announced on Tuesday that it has launched its suite of products for sale to commercial vehicle owners in Texas.
Commercial businesses in Texas can access a growing number of personalization, convenience, and security features delivered via the digital plate. Legislative approval and close collaboration with the Texas Department of Motor Vehicles (TxDMV) paved the way for this product launch.
Reviver’s digital license plates are approved for use on commercial vehicles in Texas and legal to drive throughout the United States, Canada and Mexico.
Commercial fleet businesses access digital license plates via RFleet, which combines the RPlate, a tamper-proof digital license plate device with integrated telematics capabilities, along with the RFleet Software Dashboard.
RFleet offers a suite of features tailored to businesses managing vehicle fleets, including automated vehicle registration and compliance, as well as a robust set of telematics and safety features. RFleet can eliminate physical tags and stickers and enables fleet managers to conduct centralized vehicle registration renewal of their entire fleet.
Not all of these services are yet fully available in Texas, according to a news release.
“We are very excited to make digital license plates available for commercial vehicles in Texas,” Reviver executive vice president of sales CJ Meurell said in the news release. “Vehicle fleets are one of the biggest capital investments that many companies make, and they are notoriously difficult and time-consuming to manage. We believe digital license plates can play an important role in providing solutions for businesses.”
Additional RFleet features include integrated telematics, which can provides real-time vehicle tracking, geofencing, trip logging, speeding alerts and more. RFleet offers unique safety alert features, including STOLEN Mode with GPS tracking and the ability to report a vehicle stolen through the dashboard.
Further, the interface can integrate seamlessly with existing fleet management systems, such as enterprise telematics systems, allowing easy integration of RFleet’s fleet compliance features.
“The Texas Department of Motor Vehicles is committed to providing Texas commercial fleets high levels of customer service,” TxDMV director of vehicle titles and registration Roland Luna Sr said in the release.
“Working with Reviver to implement digital license plate offerings for commercial fleets is just one way we are helping Texas companies navigate today’s technically competitive landscape,” Luna added.
For more information, visit reviver.com/rfleet.
Here’s more industry consolidation; this time in the fleet space.
A news release from Athene Holding distributed on Monday announced the signing of a stock purchase agreement by LeasePlan Corp. with Wheels Donlen’s parent company to acquire LeasePlan USA.
The result will be the combination of LeasePlan USA with Wheels Donlen to create a unified fleet management business.
The companies highlighted this combination creates a “strong competitor in mobility,” which will allow Wheels Donlen and LeasePlan USA to provide enhanced solutions to corporate fleets.
“Benefitting from added scale, materially increased investment capacity, and differentiated capabilities, the combined company will be better positioned to service customers and facilitate growing trends towards electric vehicles and digital technologies,” Athene said in the news release.
“With $246 billion of assets, Athene will be well positioned to provide the combined company with deep capital support for its go-forward businesses to offer clients an enhanced suite of solutions across fleet, last-mile delivery, trucking, and equipment,” continued Athene, which is the lead investor in LeasePlan Corp.
The firm said the transaction is expected to close by the end of the year and is subject to customary closing conditions including regulatory approvals.
According to the news release, both the management team and board of directors will include representatives from Wheels Donlen and LeasePlan USA.
LeasePlan USA chief executive officer Matt Dyer will become a senior executive and board member of the combined company.
“The subscription megatrend and the digital revolution mean the U.S. leasing market is about to enter a period of accelerated growth and transformation. By joining forces with Wheels Donlen, LeasePlan USA will have the scale and investment firepower necessary to serve its growing customer base and accelerate the future of mobility for American drivers,” LeasePlan CEO Tex Gunning said in the news release.
“We are very proud of the business we have built-up in the US and are confident our colleagues will achieve every success as they put full focus on the unique US market,” Gunning continued.
Additionally, as part of this transaction, LeasePlan USA and LeasePlan Corp. will enter into a cooperation agreement to deliver global fleet management services to both companies’ international clients following the completion of the transaction, ensuring the full availability of the global fleet solutions for clients.
Likewise, the existing global alliance between Wheels Donlen and ALD will continue, according to the news release.
“LeasePlan has built a terrific business in the US that we are excited to integrate with the Wheels Donlen platform, adding complementary capabilities that will provide clients with an even broader suite of mobility solutions,” Wheels Donlen CEO Shlomo Crandus said.
“We look forward to working with Matt and welcoming the LeasePlan USA team to the Wheels Donlen family and together we will continue enhancing our best-in-class platform and providing our clients unsurpassed fleet management results,” Crandus went on to say.
Dyer offered these perspectives about all of the developments.
“LeasePlan USA is a growing force in the US market and now, as part of Wheels Donlen, we have the opportunity to expand our mobility platform. We are very excited about the future with a strong and diversified business that is poised for further growth in fleet management, leasing and financing for corporate fleets, last-mile delivery, trucks, as well as equipment and material handling,” Dyer said.
“In addition, thanks to our cooperation agreement with LeasePlan, customers with fleets outside the U.S. will continue to access the high-quality international fleet management services they have come to expect. I’m proud of our employees who have worked so diligently to build the business we have today and who will help us reach our next stage of development in partnership with Wheels Donlen,” he went on to say.
Jim Belardi is CEO of Athene.
“For Athene, this transaction follows our longstanding strategy to invest in businesses with strong fundamentals, underwriting and direct origination capabilities. We have high conviction in the growing mobility market and the leading role that the combined Wheels Donlen-LeasePlan USA can play in serving companies’ fast-evolving fleet needs,” Belardi said.
“We are confident their strong business fundamentals and focus on sustainability and innovation will benefit their customers and Athene’s investors alike,” he added.
Holman is adding more financial juice into the electric vehicle space.
Last week, the global automotive services organization announced an investment from its venture capital division in AmpUp, a leading electric vehicle management software company.
Executives highlighted AmpUp’s innovative technology allows organizations and fleet operators to efficiently monitor and manage their EV charging infrastructure to simplify charging schedules and optimize energy consumption.
In addition to the strategic capital investment, the company said this collaborative effort is poised to leverage Holman’s fleet management services and AmpUp’s technology platform to aggregate charging information with vehicle operating data, reducing the risk of data fragmentation and mitigating fraud while also eliminating potential blind spots as fleet operators successfully navigate the transition to EVs.
“As a growing number of organizations embrace EVs and the associated infrastructure becomes increasingly robust, enhanced visibility to charging data will be vital to effectively managing EV chargers and optimizing charging strategies at scale,” Holman director of sustainability Emily Graham said in a news release.
“As we continue to explore potential electrification opportunities with our customers, aligning with technology leaders such as AmpUp allows us to integrate at-home and public charging information with the full range of vehicle operating data we already capture, further streamlining the transition to EVs for fleet operators and delivering the insight necessary to make fully-informed strategic decisions,” Graham continued.
AmpUp’s proprietary software solution is designed to help to simplify electric vehicle adoption by improving the EV charging experience for organizations and their drivers. The technology can make EV charge scheduling easier and more convenient while also providing better infrastructure control and delivering increased visibility to key charging metrics.
“Holman’s automotive expertise and legacy in the industry is second to none and we’re extremely proud of the investment they’re making in our company as we continue on our mission to electrify transportation,” AmpUp chief executive officer Thomas Sun said in the news release.
“As more businesses transition their fleets to electric vehicles, we believe our intuitive technology will help organizations quickly scale smart charging solutions and make implementing electrification programs as seamless as possible for fleet operators,” Sun went on to say.
For additional information, visit Holman.com or AmpUp.io.
Merchants Fleet not only received three Stevie Awards as part of the 20th annual American Business Awards, the fleet management company also recognized its Top Overall Auction for 2021.
Claiming the auction accolade for the second year in a row from the fifth largest fleet company in the U.S., according to a news release from ServNet, is North Bay Auto Auction.
“Our entire auction team is thrilled to again be named the top auction in the U.S. for Merchants Fleet,” said David Aahl, partner and general manager at North Bay Auto Auction.
“This award is evidence of the care and attention we devote to our customers. Lease returns never let up even in the height of the pandemic, and Merchants Fleet has been an important partner during a tumultuous time,” Aahl continued in the news release from ServNet, of which North Bay Auto Auction is a member.
Aahl acknowledged the role that Ashley Sackett, the fleet lease representative at North Bay, played in the auction’s success with Merchants Fleet.
“Ashley provides the boots on the ground for Merchants Fleet, making sure that all areas of quality control are met,” Aahl said. “She touches every vehicle, and it is due to her efforts that we know that condition reports are accurate and that all the details of sale preparation and sale are managed with care.”
North Bay Auto Auction has been handling vehicles for Merchants Fleet since 2015. In addition to winning top honors for the account in 2020 and 2021, the auction also won its Top Line Service Award in 2018.
“Merchants Fleet recognizes its top auction based on service, performance, and a variety of metrics, including timeliness of days to sale and conversion rate,” Merchants Fleet remarketing manager Bill Boutwell said. “A group of us determines our annual award recipients, and the decision to name North Bay as our Top Overall Auction was a unanimous one.”
“The team at North Bay does everything you’d hope an auction would do, going out of their way to process our vehicles and get them sold,” Boutwell continued. “While we can only look at photos of our off-lease units, they can really see what’s going on, and they’re proactive in communicating, with status reports, follow up and vehicle assessments. They’ve proved an invaluable part of the remarketing process and have set a standard of excellence for our auctions all over the country.”
As a family-owned independent auction founded in 1993 by Don Morrow in the region stretching from Los Angeles to Seattle, North Bay Auto Auction is situated on 33 acres near the I-80 corridor in between San Francisco and Sacramento in Fairfield, Calif.
The auction holds a sale twice weekly, on Tuesday at 4 p.m. and Thursday at 10 a.m.
Honors for Merchants Fleet, too
Meanwhile, the fleet company also announced three members of the Merchants’ senior leadership team have received Stevie Awards during the 20th annual American Business Awards.
According to a company news release, Merchants chief executive officer Brendan P. Keegan has been named Thought Leader of the Year in the Business Services category.
Senior vice president and chief financial officer Jerry Pavelich has been awarded with an Achievement Financial Services Management
Vice president of strategic alliances Rick Bell has been recognized for Achievement in Transportation Management.
The company highlighted that all three are tenured fleet professionals whose experience and expertise in the industry are the driving force behind Merchants’ meteoric growth.
In 2021 the Merchants portfolio of vehicles grew by nearly $500 million to a total of value of $2 billion — a 34% increase, with 20,000 vehicles on the road and 4 million packages per day delivered in a vehicle managed by Merchants.
“Innovation is at the core of everything we do, and it’s no secret that Merchants is setting the standard for excellence in the transportation industry,” Keegan said in the news release. “We are incredibly proud to be recognized by the American Business Awards, and to be part of the award-winning Merchants team.”
Nicknamed the “Stevies” for the Greek word meaning “crowned,” the American Business Awards received more than 3,700 nominations from organizations of all sizes. Each year, more than 230 professionals worldwide participate in the judging process to select this award winners.
“We are so pleased that we will be able to stage our first ABA awards banquet since 2019 and to celebrate in person, the achievements of such a diverse group of organizations and individuals,” said Maggie Miller, president of the Stevie Awards.
The awards will be presented to winners at a gala ceremony at the Marriott Marquis Hotel in New York on June 13.
Details about The American Business Awards and the list of 2022 Stevie winners are available at www.StevieAwards.com/ABA.
There’s a new brand under the Cox Automotive Mobility umbrella.
Parent company Cox Automotive announced Thursday that it has launched “Cox Automotive Mobility Fleet Services,” which unites its Dickinson Fleet Services and Interstate Truck Center brands.
Those entities will now operate under a unified brand, a move that provides “more holistic offering of industry-leading on-site, emergency mobile and shop services for light, medium and heavy-duty trucks and trailers,” Cox said.
“We recognize the responsibility we have to evolve and transform our business continuously to better serve our customers, team members and industry,” Cox Automotive Mobility president Joe George said in a news release. “This brand evolution is a signal of our commitment to continue to lead the transportation and fleet services future.”
Speaking of the future, the company shared a few plans for Cox Automotive Mobility Fleet Services.
The business unit intends on doubling its FleeTec Academy locations this year. It is also aiming to invest in expanding its preventative scheduled maintenance and 24/7 emergency mobile service presence — and helping this particular effort has been the acquisitions of Mobile Fleetcare in the San Francisco Bay Area and MobiCare in Jacksonville, Fla., in the last six months.
Additionally, Cox says the new brand “will accelerate fleet-focused product and technology development, working across Cox Automotive Mobility’s other business solution areas — Fleet Operations, EV Battery Solutions and Emerging Ventures
“This includes service and support of commercial fleet electrification, and advanced driver assistance systems (ADAS) to further enhance driver safety and comfort,” the company said.
Ted Coltrain is vice president of operations at Cox Automotive Mobility Fleet Services. In a news release, he said: “This is more than just a name change — our refreshed Fleet Services brand signifies the direction we are headed as a business to deliver maintenance excellence for our customers while providing best-in-classbenefits and training for our world-class technicians.
“Day to day, our mission as the leader in scheduled on-site, emergency mobile, and shop services for light, medium, and heavy-duty fleets will not change,” he said. “We will continue our commitment to the safety-first and technician-centric culture we’ve developed and nurtured over the years.”
