Emkay Celebrates 75th Anniversary

Emkay was founded in 1946 as a business unit inside Midway Chevrolet in Chicago. Here are the key milestones in the history of the fleet management company.

by Mike Antich & Cindy Brauer

December 29, 2021

3 min to read

Michael Braude, first president of EMKAY
Photo: EMKAY

It was on March 29, 1946, that EMKAY Car Leasing Co. Inc. began operations from inside Midway Chevrolet. Morton Weiss and Sam Katzin, co-owners of Midway Chevrolet, named Sam Katzin’s brother-in-law Michael Braude as president of this new venture. At the time, the leasing industry was almost non-existent, with only a few companies offering long-term rentals or leases. The two innovators had set in motion a series of events, however, that would see EMKAY grow into a prominent player in the soon-to-be expanding leasing industry.

Gary Tepas joined EMKAY in 1978.
Photo: EMKAY

Under Braude’s direction the company quickly grew out of the small space allocated within the dealership. Katzin and Braude then decided to move EMKAY to its own building and rename the venture EMKAY, Inc. As the leasing industry continued to expand, EMKAY was named the third-largest lessor in the U.S. in 1958. EMKAY’s steady growth rate continued through the 1960s. In 1973, Braude and Katzin sold the business to Indiana Capital Corp., which was headed by Samuel Rea. In 1978, Gary Tepas joined EMKAY as VP of sales. Growth during the 1980s led to a new headquarters building in 1987, with further additions coming in 1996 and land purchases for future growth in 2003. By 1996, Indiana Capital Corp exited, and Gary Tepas was named chairman and CEO of EMKAY. Fast forward to today, and from its humble beginnings EMKAY is now one of the Top 10 fleet management companies in the U.S.

Year	Milestone	Year	Milestone
1939	Midway Chevrolet founded in Chicago by Samuel Katzin and Martin Weiss	1995	Industry "First" to utilize "Total Server Mirroring" and 100% unlimited Power Backup
1946	EMKAY Car Leasing Co. Inc. begins business inside Midway Chevrolet; Michael Braude named President	1996	EMKAY celebrates 50 years; Gary Tepas named Chairman and CEO
1952	EMKAY Car Leasing Co. Inc. relocates to its own facility in Chicago and renamed to EMKAY, Inc.	1997	Industry "First" to offer a 100% customizable vehicle driver policy & handbook
1973	Providing fuel credit cards to lease customers is an industry first	2004	EMKAY acquires AM Leasing Corp.
1978	Gary Tepas joins EMKAY as V.P. Sales	2006	EMKAY acquires PHD Leasing
1979	Industry "First" to use a network-based computer system	2007	Gary Tepas named President and COO of EMKAY
1980	Gary Tepas named President of EMKAY	2010	Industry "First" CELSIUS desktop widget for fleet administrators; Industry "First" driver app called Driver 360
1982	Industry "First" to have a magazine-type annual guide	2011	Industry "First" fleet administrator Fleet 360 app; EMKAY acquires JPL Canada
1983	Industry "First" to provide all employees their own desktop PCs	2012	Remarketing/Auction app "EMKAY Select" allows buyers to review vehicle history
1985	EMKAY Motors founded in Schaumburg	2014	EMKAY is first lessor to implement Auto Integrate
1988	EMKAY relocates to new HQ in Itasca, IL.	2015	Greg DePace named President of EMKAY
1989	Industry "First" to promote lower debt-to-equity ratios	2019	EMKAY releases safety suit utility app "SafeRoads"
1992	Industry "First" and still only to have a "Big Brother"-type Driver Profile System	2021	EMKAY celebrates 75 years

Topics:Emkay Leasing Fleet Management Companies Fleet Consolidation Operations

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