September 2023: Flex Fleet Rental is overjoyed to announce a significant advancement that has the potential to revolutionize the commercial vehicle rental industry in North America. The firm has been acquired by Kaizen Automotive Group, an industry leader in innovative solutions for automobiles. The acquisition reached its definitive form on September 1, 2023, signifying a critical juncture in our trajectory. By combining forces, Flex Fleet Rental and Summit Fleet, a subsidiary of Kaizen Automotive Group, establish one of the most sizable and dynamic commercial truck fleet organizations on the continent. This strategic move introduces a new era of opportunities.
The collaborative effort is anticipated to generate synergies that will elevate the standard for outstanding service and groundbreaking solutions.
"We are thrilled to expand our product and service offerings throughout North America by partnering with Summit Fleet," said Brian Goldhardt, president and CEO of Flex Fleet Rental. "We couldn't be more excited about this acquisition with it positioning ourselves into our next chapter of growth." Regarding this significant event, Nate Clarke, the Chief Executive Officer of Kaizen Automotive Group, conveyed his elation: "Our outlook on the acquisition is extremely positive.
Our customers throughout North America will be able to benefit from our ability to continue providing technologically advanced commercial fleet management services that are at the forefront of our industry, thanks to the merger between Summit Fleet and Flex Fleet Rental.
Gene Weil, Managing Director of Waterfall Asset Management, stated, "We acquired Flex Fleet Rental in early 2019, anchored to a shared vision with management to institutionalize Flex Fleet Rental into the leading medium-term truck rental and logistics business with the ultimate customer experience." "The sale to Kaizen Automotive is an exciting advancement in Flex Fleet's growth story, both as an acknowledgment of the industry-leading status Flex Fleet Rental has achieved, as well as an opportunity for our customers, vendors and employees to take advantage of the scale, operational sophistication, and product depth of the combined enterprise in Canada and the U.S."
January 2021 Altrad Services UK announced a strategic partnership with Trakm8, a recognized leader in telematics data, to improve safety across fleet using Trakm8 technology and made significant improvements to combat poor driving & blowout best practices throughout the fleet drivers.
September 2022 Ford Motor Company broke ground on BlueOval, a USD 5.6 billion EV manufacturing facility in association with a battery company SK On, a wholly owned subsidiary of SK Innovation, a South Korean battery manufacturer to manufacture a new future electric truck and batteries in West Tennessee, United States. The facility will provide 6,000 jobs when it becomes fully operational.
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