Ryder to acquire Pit Stop Fleet Service, terms not disclosed

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, which will accelerate growth of this product solution. Based in Venice, Fla., Pit Stop offers retail mobile commercial fleet maintenance, including battery, tire and transmission repairs, preventative maintenance, and breakdown assistance. The transaction, which Ryder expects to complete by August 1, subject to customary closing conditions, is expected to add approximately $24M in gross revenue to Ryder’s Torque by Ryder business in 2025 and provide incremental growth to Ryder’s earnings. Financial terms of the deal are not disclosed. Ryder 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.