Fueling the future: Key acquisitions and partnerships in trucking with Element Fleet Management, White Oak Commercial Finance, and Overhaul
Key takeaways
- Element Fleet Management and Motus enhance mobility strategies, improving efficiency and flexibility for trucking organizations.
- White Oak's $20M factoring facility supports transportation companies, emphasizing the importance of working capital for growth.
- Overhaul's acquisition of FreightVerify boosts supply chain visibility, addressing in-transit risks to improve customer satisfaction.
Element Fleet Management partners with Motus to optimize mobility for trucking organizations
Element Fleet Management and Motus have announced a partnership to provide a comprehensive mobility strategy for organizations in the U.S. and Canada, addressing both fleet vehicles and personal cars used for work. The collaboration aims to enhance the client experience by optimizing costs, improving flexibility, and streamlining program management, resulting in greater operational efficiency and higher employee satisfaction.
In a recent quote, David Madrigal, EVP and CCO, Element Fleet Management, said, “Our clients are looking for ways to optimize mobility across every aspect of their organizations. With Motus, we are offering a smarter, integrated approach that reduces costs, simplifies compliance, and creates better experiences for drivers—whether they are behind the wheel of a company car or their own vehicle.” Learn more...
See also: New trucking partnerships: Bendix, Merchants Fleet, Eroad, and more
White Oak Commercial Finance supports growth in trucking with $20 million factoring facility
White Oak Commercial Finance (WOCF) has closed and funded two new transactions totaling $35 million to support a transportation and logistics company and a global marketing agency. The $20 million factoring facility will improve the working capital of a growing transportation company, while the $15 million asset-based revolver will aid a marketing agency in its customer acquisition efforts.
In a recent quote, Tom Otte, CEO of White Oak Commercial Finance, said, “These two transactions represent the breadth of WOCF’s expertise and our ability to underwrite and support businesses across a wide range of industries. We look forward to partnering with these two companies and their sponsors to support sustained growth, and we’ll continue to source creative sponsored and non-sponsor-backed opportunities with quality middle-market companies.” Learn more...
Overhaul acquires FreightVerify to enhance supply chain visibility in trucking
Overhaul has acquired FreightVerify, improving its in-transit supply chain risk management capabilities by providing an intelligence-driven platform that the company said ensures warehouse-level control and proactive management of high-consequence cargo. This acquisition allows organizations to address both logistic visibility and the impact of delays on inventory and customer experience.
In a recent quote, Barry Conlon, co-founder and CEO of Overhaul, said, “The market has evolved, and the next generation of supply chain solutions needs to address not only in-transit risk but also connect to the impact on inventory outcomes and customer experience. Our approach ensures any delayed shipment can be linked to its contents to proactively prevent and act against downstream issues that would disrupt factories, stores, and customer orders." Learn more...