MIAMI, Fla. — Ryder System, Inc. (Ryder) has entered into a definitive agreement to acquire Pit Stop Fleet Service (Pit Stop), enabling the expansion and further strengthening of Ryder’s Torque by Ryder retail mobile maintenance business offering.
“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,” said President of Fleet Management Solutions at Ryder, Tom Havens.
The transaction, which Ryder expects to complete by August 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 have not been disclosed.
According to Ryder, the company 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.
“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,” Ron said. “I believe Ryder is the ideal home for both.”
Venice, Fla. based Pit Stop offers retail mobile commercial fleet maintenance, including battery, tire and transmission repairs, preventative maintenance and breakdown assistance.
“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 Pit Stop Vice President John Croke.
With this latest 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. Ryder also said that the company plans to further expand into additional states later this year.
Since its launch in the summer of 2023 and with this acquisition, Torque by Ryder has 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.
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
