Ryder System has entered into a definitive agreement to acquire Pit Stop Fleet Service, enabling the expansion and further strengthening of Ryder’s Torque by Ryder retail mobile maintenance business offering. Based in Venice, Florida, Pit Stop offers retail mobile commercial fleet maintenance, including battery, tire, and transmission repairs, preventive maintenance, and breakdown assistance.
The transaction, which Ryder expects to complete by Aug. 1, subject to customary closing conditions, is expected to add approximately $24 million in gross revenue to Ryder’s Torque by Ryder business in 2025 and provide incremental growth to Ryder’s earnings. The financial terms of the deal are not disclosed.
Creating Synergies Between Ryder & Pit Stop Customers
Ryder said it expects the transaction to create synergies and 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,” says Tom Havens, president of fleet management solutions at Ryder.
Ryder Mobile Maintenance Available in 140 Markets
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
Virginia
Ryder has 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 vice president.
“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,” Ron Perry said.
Torque by Ryder launched in the summer of 2023 and with this acquisition will have a workforce of about 200 technicians. Services will include providing maintenance to a wide range of vehicles including commercial trucks, trailers, delivery vans, refrigerated vehicles, construction and utility vehicles, passenger and shuttle buses, and emergency response vehicles.
