Ryder System (R) has entered into a definitive agreement to acquire Pit Stop Fleet Service. Based in Venice, Fla., Pit Stop offers retail mobile commercial fleet maintenance, including battery, tire and transmission repairs, preventative maintenance, and breakdown assistance. Financial terms of the deal were not disclosed. Ryder will fully integrate Pit Stop employees, assets, and operations. Ron and Connie Perry, who co-founded Pit Stop, will help support the integration into Ryder.
The company said the transaction is expected to add approximately $24 million in gross revenue to Ryder's Torque by Ryder business in 2025 and provide incremental growth to earnings.
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