Ryder System, a provider of supply chain, dedicated transportation, and fleet management solutions, has agreed to acquire Pit Stop Fleet Service.
This acquisition aims to expand and strengthen Ryder’s Torque by Ryder retail mobile maintenance business. Based in Venice, Florida, Pit Stop offers retail mobile commercial fleet maintenance services, including battery, tire, and transmission repairs, preventative maintenance, and breakdown assistance.
The transaction, expected to be completed by 1 August pending customary closing conditions, is anticipated to add approximately $24m in gross revenue to Ryder’s Torque by Ryder business in 2025 and contribute to Ryder’s earnings growth. Financial terms of the deal have not been disclosed.
Ryder plans to fully integrate Pit Stop’s employees, assets, and operations to ensure a seamless customer experience. Ron and Connie Perry, co-founders of Pit Stop, will support the integration into Ryder.
Ryder fleet management solutions president Tom Havens said: “With our complementary retail mobile maintenance fleet services across diverse industries and markets, we now have even greater economies of scale and offer unparalleled flexibility for fleets requiring swift maintenance services.”
With this acquisition, Ryder’s retail mobile maintenance services will be available in 140 markets across 20 states, including Alabama, Arkansas, Arizona, Florida, Georgia, Indiana, Kentucky, Louisiana, Maryland, Mississippi, New Jersey, Nevada, New Mexico, North Carolina, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, and Virginia. Ryder plans to expand into additional states later this year.
Since its launch in the summer of 2023, Torque by Ryder, including this acquisition, will have a workforce of about 200 technicians. They will provide comprehensive support for various vehicles, including commercial trucks, trailers, delivery vans, refrigerated vehicles, construction and utility vehicles, passenger and shuttle buses, and emergency response vehicles.
Pit Stop vice president John Croke said: “We chose Ryder to continue the legacy that we have built over the past couple of decades because of their company culture and operating alignment to always do right by the customer.”
