August 24, 2018 3:45 PM, EDT

Amerit Attracts New Investments

Amerit Fleet Solutions repair truck The Amerit Fleet Solutions repair truck at TMC in Atlanta in March. (John Sommers II for Transport Topics)

Amerit Fleet Solutions, a provider of fleet maintenance and repair services to commercial fleets, announced the close of a majority investment from Ridgemont Equity Partners, a middle-market private equity firm, and a minority investment from Element Fleet Management Corp., a global fleet management company.

Terms of the transaction were not disclosed.

Walnut Creek, Calif.-based Amerit provides outsourced fleet maintenance services for fleets with Classes 2-8 vehicles, and other equipment. It has 1,800 technicians providing services at 750 locations.

“National fleet owners and operators are increasingly looking for a better way to maintain their fleets,” Ridgemont partner Jack Purcell said in a release. “Amerit’s scale, footprint and flexible solutions provide a unique, customized and customer-centric approach that solves challenges while allowing fleets to rapidly capitalize on market opportunities.”

The Element investment expands upon the companies’ four-year relationship.