SALT LAKE CITY, September 5, 2023 (Newswire.com) - Flex Fleet Rental is thrilled to unveil a momentous development that is poised to reshape the landscape of commercial truck rentals in North America. We are delighted to announce the acquisition by Kaizen Automotive Group, a pioneering force in the automotive industry. The acquisition was finalized on September 1, 2023, marking a pivotal chapter in our journey.
This strategic move ushers in a new era of possibilities, as Flex Fleet Rental and Summit Fleet, a subsidiary of Kaizen Automotive Group, join forces to forge one of the largest and most dynamic commercial truck fleet entities on the continent. The synergies created by this collaboration promise to raise the bar for exceptional service and innovative solutions. "By joining forces with Summit Fleet, we are thrilled to improve our product and service offerings across North America," 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."
Commenting on this momentous occasion, Nate Clarke, CEO of Kaizen Automotive Group, expressed his enthusiasm: "We couldn't be more optimistic about the acquisition. The merger of Summit Fleet with Flex Fleet Rental will empower us to continue delivering industry-defining commercial fleet management services including technology that outshines our competition to our customers across North America."
"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," said Gene Weil, Managing Director of Waterfall Asset Management. "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."
The heartening aspect for all our valued customers and partners is that this strategic move will have no impact on our day-to-day operations. Our dedicated management team is led by CEO Brian Goldhardt, CFO Nic Bement, COO John McNellis, and CTO Parker Spendlove. Accompanied by our hardworking employees will continue to lead the company with unwavering commitment. As we step into this new phase, our mission to provide exceptional services remains steadfast. Our direct contacts, business address, and billing information will remain unchanged, ensuring seamless continuity.
Should you have any inquiries or require assistance, we invite you to reach out to us at 801-899-9399 or email us at [email protected]. Your satisfaction has been and will continue to be our top priority.
Flex Fleet Rental takes this moment to extend our heartfelt gratitude to our valued friends and customers. Your unwavering support has been instrumental in shaping our journey thus far, and we are excited to embark on this new chapter together, guided by our commitment to excellence and innovation.
Parr Brown Gee & Loveless served as legal counsel to Kaizen Automotive Group with respect to the acquisition. Kramer Levin served as legal counsel and Houlihan Lokey served as financial advisor to Waterfall and TRP.
About Flex Fleet Rental: Founded in 2013, Flex Fleet Rental is a leading commercial truck rental company that has consistently set the benchmark for service excellence and innovation in North America. With a focus on delivering top-notch vehicles, exceptional customer service, and cutting-edge technology, Flex Fleet Rental continues to redefine the industry.
Brian Goldhardt President & CEO
About Kaizen Automotive Group
Founded over 30 years ago, the Kaizen Automotive Group is a leader in the automotive industry. Their focus is its unwavering commitment to exceptional customer service which has led to some of the highest volume stores across Canada. Kaizen Group is a Calgary-based company with 16 dealerships representing Cadillac, Buick, GMC, Chevrolet, Ford, Lincoln, Kia, Nissan, Honda, Hyundai and Genesis; including 6 dealerships in California under the names of Imperial Valley Chevrolet GMC, Imperial Valley Hyundai, Imperial Valley Honda, Chula Vista Honda, Chula Vista Ford, and Chula Vista Kia. Kaizen Automotive Group also offers industrial and commercial rentals, leasing, telematics, fleet management, and fleet card services across North America through its company, Summit Fleet.
Nate Clarke President & CEO
Chief Technology Officer
Original Source: Flex Fleet Rental Announces Acquisition by Kaizen Automotive Group: A New Era of Growth and Excellence