Submission declined on 4 November 2023 by CNMall41 (talk).
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Comment: Draft is heavily WP:REFBOMBed and will need to have the excessive links removed. There does not to be four, five, or six references to support single statements. The references used are also routine coverage, a lot of which comes from the announcement of Bain making an investment into the company. Please see WP:ORGCRIT for the sourcing needed to show notability. Finally, see WP:FORBESCON as those sources will also need to be removed from the draft. CNMall41 (talk) 07:09, 4 November 2023 (UTC)
| Industry | Fleet vehicles |
|---|---|
| Founded | 1962 |
| Founder | Irving Singer |
| Headquarters | |
Key people | Brendan P. Keegan (Chairman, CEO & President) Jerry Pavelich (Senior Vice President & CFO) |
| Owner | Bain Capital Abu Dhabi Investment Authority Merchants Fleet Leadership Team |
Merchants Automotive Group is an American company that leases fleet vehicles and provides fleet management services.[1][2][3][4][5]
History edit
Irving Singer founded Merchants Motors in 1962 as a used car dealership in New Hampshire.[6] Over the years, the company expanded its services to include rental cars and fleet leasing. By 1977, Merchants had opened satellite locations in Vermont and Massachusetts.[7]
By 1983, Merchants had become the largest non-affiliated rental car company in the United States and the largest car business in New Hampshire by 1984.[8] In 1992, First New Hampshire Bank facilitated $50 million in financing commitments for Merchants.[9] The company expanded its services nationally, acquiring several businesses, including ALD Automotive's North American arm in 2011, gaining ownership of ALD’s U.S. customer base of about 3,300 vehicles.[10]
In 2017, Brendan P. Keegan was hired as the Chief Executive Officer.[11][12][13] In 2019, the company rebranded as Merchants Fleet and secured significant financing, leading to rapid growth, acknowledged by their placement on the Inc. 5000 list.[14] In October 2022, Bain Capital, Abu Dhabi Investment Authority, and Merchants Fleet Leadership Team acquired the company.[15][16][17][18][19][20] Unfortunately, on November 22, 2022, Gary Singer passed away at the age of 67.[21]
Merchants Fleet has committed to purchase 12,500 units of the Ram ProMaster Electric Van (EV), making it a key commercial customer for Ram Truck's first electric vehicle in North America, as part of Stellantis' electrification journey outlined in the Dare Forward 2030 strategic plan.[22][23][24][25][26] The company has also introduced ClearCharge, a nationwide solution for electric vehicle (EV) charging and infrastructure management designed for fleets of all sizes, enabling remote charging operations.[27][28]
Operations edit
Merchants Fleet manages 170,000 vehicles throughout the United States.[29][30][31] Merchants Fleet has 40,000 electric vehicles reserved and $2.5 billion committed to fleet electrification and sustainability.[32][33][34][35][36]
References edit
- ^ Dioro, Stephen (June 6, 2022). "Transforming Merchants Fleet Into A Hyper Growth Business". Forbes.
- ^ Mihalascu, Dan. "Merchants Fleet To Buy 12,500 Ram ProMaster EV Electric Vans". InsideEVs. Retrieved 2023-09-30.
- ^ Cooper, Laura (2020-04-21). "Bain Capital Credit Invests $50 Million With Fleet Management Company". Wall Street Journal. ISSN 0099-9660. Retrieved 2023-09-30.
- ^ "Last-Mile Focuses on Sustainable Shipping". Transport Topics. 2022-12-08. Retrieved 2023-09-30.
- ^ "Merchants Fleet". www.mclaren.com. Retrieved 2023-09-30.
- ^ "Bain Capital, Abu Dhabi Investment Authority acquire NH's Merchants Fleet". NH Business Review. 2022-07-22. Retrieved 2023-09-30.
- ^ Feingold, Jeff (July 21, 2022). "Bain Capital, Abu Dhabi Investment Authority acquire NH's Merchants Fleet". New Hampshire Business Review.
- ^ "New Hampshire's Largest Car Company". Concord Monitor. February 16, 1984.
- ^ "The Singer Family Success Story". First NH Bank. 1992.
- ^ Fletcher, Lauren (March 8, 2016). "Milestones in the Fleet Leasing Industry". Fleet Financials.
- ^ Pelletier, George (May 8, 2021). "CEO, author, speaker Brendan Keegan reflects on success". Nashua Telegraph.
- ^ Daniel (2023-09-18). "Merchants Fleet, Brendan Keegan: Overcoming challenges in today's fleet management". Global Fleet. Retrieved 2023-09-30.
- ^ "Award-Winning CEO Authors Fearless Guide For Achieving The Impossible". Forbes. April 18, 2023. Retrieved 2023-09-30.
- ^ Feingold, Jeff (August 22, 2022). "10 New Hampshire businesses earn places on Inc. 5000 list". New Hampshire Business Review.
- ^ Hayward, Mark (2022-10-19). "Bain Capital, Abu Dhabi investment firm complete purchase of Merchants Automotive Group". Yahoo News. Retrieved 2023-09-30.
- ^ "Bain Capital, Abu Dhabi investment firm to buy Merchants Automotive Group". Yahoo News. 2022-07-21. Retrieved 2023-09-30.
- ^ Dorbian, Iris (2022-10-19). "Bain Capital and ADIA complete Merchants Fleet buyout". PE Hub. Retrieved 2023-09-30.
- ^ Dorbian, Iris (2022-10-19). "Bain Capital and ADIA complete Merchants Fleet buyout". PE Hub. Retrieved 2023-09-30.
- ^ "Bain Capital Finds ADIA as a Partner for Merchants Fleet Acquisition - SWFI". www.swfinstitute.org. Retrieved 2023-09-30.
- ^ "Bain Capital and ADIA agree Merchants Fleet deal". Financier Worldwide. Retrieved 2023-09-30.
- ^ Cousineau, Michael (November 16, 2022). "Gary Singer, of car dealer family, remembered as generous". Yahoo.
- ^ Hanley, Steve (2023-06-17). "FedEx Canada Adds 50 Brightdrop Electric Delivery Vans, Merchants Fleet Orders 12,500 Electric RAM Vans". CleanTechnica. Retrieved 2023-09-30.
- ^ Hinton, Christian (2023-06-29). "Merchants Fleet secures over 12K new commercial EVs". The Buzz - Electric Vehicle News. Retrieved 2023-09-30.
- ^ Noble, Breana (2023-06-13). "Merchants Fleet second buyer for electric Ram ProMaster vans". UnionLeader.com. Retrieved 2023-09-30.
- ^ Roberts, Graeme (2023-06-14). "Fleet operator signs for 12,500 electric Ram vans". Just Auto. Retrieved 2023-09-30.
- ^ "Merchants Fleet second buyer for electric Ram ProMaster vans". The Detroit News. Retrieved 2023-09-30.
- ^ "Remote Electric Vehicle Charging Solutions for Commercial Fleets". Supply & Demand Chain Executive. 2023-07-05. Retrieved 2023-09-30.
- ^ Lovrak, Tess (July 14, 2023). "Merchants Fleet launches ClearCharge EV charging offerings". Fleet Equipment. Retrieved 2023-09-30.
- ^ Feingold, Jeff (October 13, 2021). "Merchants Fleet boosts funding capacity to $2 billion". New Hampshire Business Review.
- ^ "Ares Management Leads $3B in Financing to Support Acquisition of Merchants Fleet - Monitordaily". 2023-05-08. Retrieved 2023-09-30.
- ^ "Vehicle leasing firm Merchants Fleet acquired by private equity investors | CSCMP's Supply Chain Quarterly". www.dcvelocity.com. Retrieved 2023-09-30.
- ^ "Merchants Fleet Doubles Lending Capacity for Commercial Vehicles and Equipment". Monitor Daily. February 10, 2023.
- ^ "Merchants Fleet to purchase 12,500 Ram ProMaster electric vans". FleetOwner. 2023-06-15. Retrieved 2023-09-30.
- ^ Miller, Robert S. (2023-06-16). "Merchants Fleet To Purchase 12,500 All-New Ram ProMaster EVs". MoparInsiders. Retrieved 2023-09-30.
- ^ Clouse, CJ (January 18, 2022). "Merchants Fleet goes fast and furious on electrification | GreenBiz". www.greenbiz.com. Retrieved 2023-09-30.
- ^ "Merchants Fleet to purchase electric step vans from Xos Inc". Reuters. 2021-12-13. Retrieved 2023-09-30.
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