Client Description:
Southern California Fleet Services which also includes Southern California Fire Services and Fleet-Line Truck and Equipment Repair, is a leading provider of maintenance and repair services to commercial and municipal truck and vehicle fleets, fire and emergency trucks and vehicles, apparatus, and equipment. The Company is based in Corona, CA and operates several locations in multiple states providing services to light, medium, and heavy-duty commercial trucks, trailers, and emergency vehicles under multiyear customer service contracts. Southern California Fleet Services also dispatches trained mechanics and technicians to provide services directly at customer sites or 24-hour emergency assistance.
The Winning Solution:
The Owner of Southern California Fleet Services engaged Genoa Partners to run a confidential sale process targeting strategic and private equity buyers that could execute a transaction, provide a smooth transition and provide upside growth for the employees and business going forward. The firm navigated challenging macroeconomic conditions and delivered a buyer that offered the most favorable deal for the client. Through the sale process, Genoa Partners found SVT Fleet Solutions/Velocity Vehicle Group to be the best buyer with the necessary industry experience and financial wherewithal required to grow Southern California Fleet Services.
Buyer Description:
SVT Fleet Solutions, a wholly owned subsidiary of Velocity Vehicle Group, is an end-to-end fleet optimization solution that helps companies and municipalities maximize vehicle efficiency, productivity, and value. SVT Fleet Solutions leverages its 40 years of experience to disrupt the status quo and drive positive change through bespoke solutions are designed to enhance fleets’ efficiency, productivity, and value worldwide. Based in Whittier, CA, Velocity Vehicle Group is one of the world’s leading service and parts providers to commercial vehicle operators through its nearly 80 dealerships and service facilities in the Southwest and Southeast United States, Mexico, Western Canada, and Australia.
