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.