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ECN was founded in October 2016, through a spin-off of Element Financial's equipment finance division. [2] The spin-off resulted in two separate publicly traded companies: Element Fleet Management, which manages vehicle fleets, and ECN Capital, which provided commercial financing, especially to fleet owners.
On July 1, 2014, all issued and outstanding equity interests in their Fleet Management Services business and related fleet entities were sold to Element Financial Corporation, for a purchase price of $1.4 billion. The Fleet business was focused on providing commercial fleet management services to corporate clients and government agencies ...
These functions can be dealt with by either an in-house fleet-management department or an outsourced fleet-management provider. The number of light duty vehicles registered in commercial fleets in Europe [3] as of 2016 was 15 million, and 19.5 million in North America [4] Even with these record numbers of registration, light duty vehicles ...
WEX Inc. is a provider of payment processing and information management services to the United States commercial and government vehicle fleet industry. The company is headquartered in Portland, Maine and provides services in the United States , Canada , South America , Europe , Asia , and Australia .
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The corporation was founded in 2013 by Martin E. Franklin, with financial backing from Bill Ackman. [6] The company manufactures and supplies specialty chemicals for consumer electronics, communication infrastructure, automobile, industrial surface finishing, consumer packaging and offshore oil production and drilling.
The more “traditional” fleet vehicles of passenger cars, vans, and SUVs managed by NAFA members total 1.4 million and account for $45 billion in assets, as well as a quarter million police sedans; 58,000-plus emergency vehicles; and 386,000 pieces of specialty equipment used by public service and commercial fleets.
The year 2000 brought the addition of the Chicago Fire Department fleet of 140 fire engines, 105 ambulances, and 87 aerial units under Fleet Management's supervision. In 2004, the City's fleet centralization process was accelerated when the Chicago Department of Water Management and Chicago Police Department were added as DFM customer departments.
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