Fleet service companies combine strengths

GE Fleet Services said it has signed an agreement to purchase certain assets of CitiCapital Fleet Services. Details of the transaction were not disclosed.

CitiCapital Fleet Services is owned by Citigroup's CitiCapital unit and represents approximately $1.2 billion in assets with more than 189,000 vehicles under lease and service management in the United States.

“CitiCapital Fleet Services is highly regarded in the fleet industry for its exceptional customer service,” said Kathy Marinello, president and chief executive officer of GE Fleet Services. Marinello said GE Fleet Services will focus on providing customers with the best possible service and products by leveraging the strengths of both organizations.