Merchants Fleet Management has reached 50,000 leased and managed vehicles, the Hooksett, N.H.-based fleet management company has announced.

The company has grown its portfolio by 46% in the past five years. Brendan Keegan, who took over as chief executive earlier this year, has set a goal of doubling the size of the company by 2023. The company plans to center its expansion around investments in technology and talent management.

"We're continuing to add business with existing clients while adding strong new clients to our client roster," said Keegan. "Our plan is to build on our upward trajectory of growth and continue to provide unparalleled service to our clients."

An internal survey of Merchants clients found that 91% would recommend the company as their fleet partner.

Merchants now counts 31,686 funded vehicles, according to the 2018-2019 Automotive Fleet Fact Book.


Related: Merchants New CEO Talks Mobility, Growth Strategy

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