CI Capital Partners, a New York-based private equity firm, has acquired Total Fleet Solutions, a provider of outsourced business services focused on material handling equipment such as forklifts, order pickers, pallet trucks and aerial lifts. Terms were not released. Total Fleet Solution was formed in 2001, and is based in Holland, Ohio.
CI Capital Partners, a New York-based private equity firm, announced today that it has acquired a group of companies doing business as Total Fleet Solutions, a provider of outsourced business services focused on the procurement, maintenance and fleet management for material handling equipment such as forklifts, order pickers, pallet trucks and aerial lifts.
Total Fleet Solutions was founded in 2001 and is based in Holland, Ohio. Total Fleet Solutions’ customers are primarily large, blue chip corporations. By consolidating the procurement and maintenance of material handling equipment and remaining brand independent, the company’s offering helps customers realize significant cost savings in an often overlooked area. In addition to equipment and maintenance savings, the company also helps customers reduce the cost of administration, technology and leasing associated with its material handling equipment fleet.
“We continue to execute on our core strategy of forming partnerships with proven management teams in order to build businesses. Our acquisition of Total Fleet Solutions is another example of this strategy, and the company is an excellent addition to our current portfolio,” said Frederick J. Iseman, Chairman of CI Capital Partners.
“Total Fleet Solutions has differentiated itself from its competitors through its comprehensive approach to fleet management that offers an attractive value proposition to customers,” said Steven Lefkowitz, President of CI Capital Partners. “We are excited to work with Brent Parent, Todd Roberts and the rest of the Total Fleet management team to help the business continue to grow.”
“We are thrilled to complete this transaction and to become partners with CI Capital,” said Brent Parent, Chief Executive Officer of Total Fleet Solutions. “CI Capital has a strong track record of helping businesses like ours realize their growth potential and build value.”
Todd Roberts, Chief Operating Officer of Total Fleet Solutions, added, “We are excited about the resources and strategic vision CI Capital brings to Total Fleet Solutions which we believe will enable continued growth in all areas of our business.”
“The outsourced management of forklifts and other material handling equipment is an untapped market with excellent growth potential. Total Fleet is uniquely positioned to take advantage of this opportunity,” said Tim Hall, Managing Director at CI Capital. “The company can also serve as a platform for consolidation as we look to add additional services and products.”
About CI Capital Partners
CI Capital Partners LLC is a North American private investment firm focused on building and expanding leading middle market businesses. The firm targets industries that are ripe for consolidation and seeks to build businesses through organic growth and acquisitions. Since the firm’s inception in 1993, CI Capital and its portfolio companies have made more than 100 acquisitions representing over $6 billion in enterprise value. CI Capital’s existing portfolio consists of companies which collectively generate annual revenue of approximately $5 billion, EBITDA of approximately $400 million, and employ approximately 15,000 people. To learn more about CI Capital Partners, please visit www.cicapllc.com.
About Total Fleet Solutions
Total Fleet Solutions is the largest provider of brand independent fleet management services, specializing in driving cost savings and efficiencies in forklift fleets and related material handling equipment assets for Fortune 1000 and other large manufacturing and distribution companies. By taking full responsibility for managing and tracking their customers’ material handling equipment, TFS allows customers to focus on their core business while enjoying expert outsourced administration, improved productivity, ongoing and documented cost savings, and centralized fleet management supported by unprecedented data and reporting capabilities.