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Consolidation

Merger Mania Hits Fleet Market, Again

Merger mania is hitting the fleet market once again. We’re hearing about potential OEM consolidations and we now have Element Financial Corp. expanding its foothold in the U.S., with the acquisition of GE Capital Fleet Services on the heels of its recent purchase of PHH.

Brazil Rent-A-Car and Fleet Management Company Created

In December 2014, the Board of Directors of JSL S.A. approved the creation of a new company called Movida Participacoes S.A., which will consolidate all its rent a car and fleet management and outsourcing activities.

AirIQ Announces Workforce Consolidation

TORONTO – As part of the consolidation, AirIQ announced the appointment of Donald Gibbs as general manager of the company's land business unit. Gibbs will also continue in his role as chief financial officer.

Siemens Fleet Consolidation Saves $520,000 Annually

Fourteen Siemens operating companies, which all had separate fleets prior to 1999, consolidated and became Siemens Shared Services. A department intranet site eliminated 13.5 days from the vehicle ordering cycle.

Ed Bobit: Back to Blocking and Tackling...

The October 9th edition of The Wall Street Journal describes how those companies that piled on the debt in the '80s are now engaged in a "bad hangover," yearning for equity as they slash expenses, pleading with bondholders, and getting little sympathy from the financial shareholder community because of their high costs of debt service prompted by "mergeritis."