Total Fleet Solutions, a portfolio company of CI Capital Partners, will merge with The Miner Corporation. Terms were not released. Total Fleet is an Ohio-based Total provider of fleet management services. Miner is based in San Antonio, Texas.
Today, Total Fleet Solutions (“TFS”), a portfolio company of CI Capital Partners, and The Miner Corporation (“Miner”) announced that they have merged to form a leading provider of facilities services and asset management solutions for retail, distribution, manufacturing, health care and hospitality companies.
The combination of the companies creates the largest one-stop shop for on-site maintenance, on-call repair service, planned maintenance support and lifecycle management solutions for a broad range of assets including material handling equipment, mobile industrial equipment, doors, docks and waste management equipment. The combined company manages 20,000 pieces of material handling equipment and fields over 40,000 customer calls annually. Terms of the transaction were not disclosed.
Brent Parent, founder and chief executive officer of TFS, who will retain his title in the combined entity, said, “Miner’s service lines are complementary to the services offered by TFS. Miner’s specialties are emergency repair services and planned maintenance support for doors, docks and waste management equipment, while TFS focuses on procurement, leasing and fleet management for lift trucks. The merger brings the best of both companies to their respective customer bases. At the core, TFS and Miner have exceptional people who relentlessly serve customers and focus on cost savings for them.”
Phil Miner, Miner’s founder and Chairman, who will remain active in the business and assume the role of vice chairman of the combined company, said, “This combination creates a platform for growth with best-in-class services. Nearly every manufacturer, distributor and retailer today is exploring the outsourcing of non-core activities in an effort to reduce costs and improve the productivity and safety of their employees. Our combination of people and intellectual property will further enhance the suite of services we deliver to our customers throughout North America.”
About Total Fleet Solutions
Based in Holland, Ohio and founded in 2001, TFS is a privately held company owned by CI Capital Partners, a New York-based private equity firm, and the TFS senior management team. Total Fleet Solutions is the largest provider of brand-independent fleet management services to Fortune 1000 companies, specializing in driving cost savings and efficiencies in forklift fleets and related material handling equipment.
About The Miner Corporation
Based in San Antonio, Texas, and founded in 1994, Miner is a leading national provider of mission critical facilities services and asset management solutions for retail, distribution, manufacturing, healthcare and hospitality companies. Through a nationwide, comprehensively linked network of affiliates and owned service centers, Miner delivers a broad spectrum of maintenance, repair, sales and installation, equipment modernization, diagnostics and analytics services to more than 16,000 customer locations throughout North America. The Company’s suite of solutions addresses a diverse range of equipment and fixtures including loading docks, commercial doors, material handling equipment, recycling/waste machinery, security and access control solutions and storefront glass systems.
Take your pick!
- Buyouts delivers exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more. Get your FREE trial or subscribe now.
- VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more. Get your FREE trial or subscribe now.