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Element Financial Corp.'s senior management team and Board of Directors has purchased $11.2 million in Element securities to help finance the Canadian fleet financier's acquisition of PHH Arval.
Read More →Michelin has announced that it intends to acquire all outstanding shares of Sascar, a Brazilian fleet management and freight security company.
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Boyd’s acquisition, which costs $45 million, adds 16 collision repair centers in Michigan and Florida.
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The collision repair company announces two new acquisitions -- Haddock Collision Centers in Raleigh and Classic Collision Center in Los Angeles.
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PHH Corp. has agreed to sell its fleet management unit, PHH Arval, to Element Financial Corp. for $1.4 billion in cash in a deal that had been in the works since February.
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The Canadian equipment financier acquiring PHH Arval is raising $1.1 billion to close a deal it says will fuel ambitious expansion plans in the North American fleet management market.
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Element Financial Corp. is expected to finalize the purchase of PHH Corp.'s fleet leasing unit for about $1.35 billion in about two weeks, according to a Reuters report quoting a source familiar with the matter.
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The repair centers are in Chicago, surrounding communities and Northwest Indiana.
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With the acquisition, Boyd now has 288 collision repair locations across 15 U.S. states and five Canadian provinces.
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The acquisition reinforces Service King’s position as one of the country’s largest multi-shop operators in the collision repair industry.
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