Amerit Fleet Solutions closed a minority investment from Element Fleet Management Corp., which will expand its maintenance services for customers of the fleet management company.
This investment also seeks to expand Amerit's geographic reach for Element, according to the company. Amerit also closed a majority investment from Ridgemont Equity Partners, a middle market private equity firm. Financial terms of the transaction, which closed in the first quarter of 2018, were not disclosed.
The new investments from Element and Ridgemont Equity Partners will enable Amerit to expand its maintenance and repair services for fleets.
Amerit is a provider of outsourced fleet maintenance services for Class 2 through Class 7 vehicles and other critical equipment.