Fleet management company Merchants Fleet announced on May 9 it has been selected as a 2022 U.S. Best Managed Company by Deloitte.
Sponsored by Deloitte Private and The Wall Street Journal, the program recognizes outstanding U.S. private companies and the achievements of their management teams.
The 2022 designees are U.S private companies that have demonstrated excellence in strategic planning and execution, a commitment to their people and fostering a dynamic, resilient culture, as well as strong financials. This year’s designees continued to propel their businesses forward by prioritizing purpose, investing in their workforces, and demonstrating their commitment to diversity, equity, and inclusion.
“It's an incredible honor for Merchants Fleet to be recognized with this esteemed award from a powerhouse like Deloitte,” said Brendan P. Keegan, CEO of Merchants Fleet. “It’s clear that Merchants is setting the pace for innovation and excellence in our industry, and we are energized to continue providing nothing but the best for our clients and employees as a Best Managed Company.”
According to the news release, Merchants played a critical role in keeping America moving during the pandemic by launching a suite of new leasing and financing solutions designed to keep essential businesses on the road. As a result, the Merchants portfolio of vehicles grew by nearly $500 million in 2021, to a total of value of $2 billion — a 34% increase, with 20,000 vehicles on the road and 4 million packages per day delivered in a vehicle managed by Merchants.
The 60-year-old company has also made a string of bold commitments toward ESG (Environmental, Social, and Governance) — in the traditionally male-dominated fleet industry, Merchants stands out with female executives making up nearly half of Merchants’ corporate leadership team, and half of its total employee base. More than 96% of Merchants executives have been trained in Sustainable Business Practices from Harvard Business School, and the company is driving fleet electrification in North America with reservations of 40,000 electric vehicles and $2.5 billion committed toward having its mobility fleet 50% electric by 2025, and 50% of its clients’ fleets electric by 2030.
Applicants are evaluated and selected by a panel of external judges focused on assessing hallmarks of excellence in four key areas: strategy, ability to execute, corporate culture and governance/financial performance. They join a global ecosystem of honorees from more than 40 countries recognized by the Best Managed Companies program.