Mobile Fleet Maintenance Provider Joins Torque by Ryder

  • Ryder acquires Pit Stop Fleet Service
  • Expected to add $24 million in gross revenue
  • Transaction expected to complete by August 1
  • Financial terms undisclosed
  • Integration of all Pit Stop’s employees, assets and operations

Logistics and transportation company Ryder has announced its plan to acquire mobile fleet maintenance provider, Pit Stop Fleet Service. The acquisition is expected to add approximately $24 million in gross revenue to Ryder’s Torque by Ryder business unit. The deal is set to be completed by August 1, although the financial terms have not been disclosed. Upon completion, all of Pit Stop’s employees, assets and operations will be integrated into Ryder’s existing operations. Torque by Ryder, which launched last year, currently operates in 20 states with around 200 technicians.

Factuality Level: 10
Factuality Justification: The article provides accurate information about the acquisition of Pit Stop Fleet Service by Ryder, including details such as the expected revenue addition, completion date, and plans for integration. It also gives relevant background information on Torque by Ryder’s operations and workforce size after the acquisition.
Noise Level: 3
Noise Justification: The article provides relevant information about a business acquisition and its expected impact on the acquiring company’s revenue and operations, but lacks in-depth analysis or exploration of long-term trends or consequences for stakeholders.
Public Companies: Ryder (R)
Private Companies: Pit Stop Fleet Service
Key People: Victor Swezey (Author)

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Financial Relevance: Yes
Financial Markets Impacted: Ryder’s stock price may be impacted by the acquisition news.
Financial Rating Justification: The article discusses a company (Ryder) making an acquisition that will add $24 million in gross revenue to its business unit and is expected to create savings. This has financial relevance as it affects the company’s operations and could potentially impact the stock price, thus affecting investors and financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in this article.

Reported publicly: www.marketwatch.com