Ryder System has entered into a definitive agreement to acquire Pit Stop Fleet Service. This will enable Ryder to expand and further strengthen the Torque by Ryder retail mobile maintenance business offering, accelerating its growth. Based in Venice, Florida, Pit Stop offers retail mobile commercial fleet maintenance, including battery, tire and transmission repairs, preventive maintenance, and breakdown assistance.
Ryder expects to complete the transaction by August 1. Approximately $24 million in gross revenue is expected to be added to Ryder’s Torque by Ryder business in 2025 and provide incremental growth to Ryder’s earnings. Financial terms of the deal are not disclosed.
Ryder expects the transaction to create synergies and to benefit both Ryder and Pit Stop customers. To ensure a seamless experience for customers, Ryder will fully integrate Pit Stop employees, assets, and operations. Ron and Connie Perry, who co-founded Pit Stop in 1997, will help support the integration into Ryder.
“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,” Tom Havens, president of Fleet Management Solutions at Ryder, said.
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With this latest Ryder acquisition, Ryder’s retail mobile maintenance services will be available in 140 markets in 20 states: 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. There are plans to further expand into additional states later this year.
“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,” said John Croke, Pit Stop VP.
“In thinking about the future, I wanted to make sure our employees are in a company that will give them ample opportunities to grow, and our customers are in the best possible hands. I believe Ryder is the ideal home for both,” said Ron Perry.
Since its launch in the summer of 2023 and with this acquisition, Torque by Ryder will have a workforce of about 200 technicians, delivering comprehensive support to customers. This includes a wide range of vehicles serviced, including commercial trucks, trailers, delivery vans, refrigerated vehicles, construction and utility vehicles, passenger and shuttle buses, and emergency response vehicles.
