Ranking Reflects Company’s Over $1 Billion In Lease Volume Achieved In 2023
FORT LAUDERDALE (April 11, 2024) – Fleet Advantage, a leading innovator in specialty financing, fleet data analytics, fleet management services, and life cycle cost management, announced today it ranked fourth on Monitor’s “Top 30 Private Independents” list, which recognizes the largest privately held, independent originators of new business volume in the equipment finance industry. The company’s ranking reflects its continued growth resulting in over $1 billion in Lease Originations achieved during calendar year 2023.
With a continued uneven economy and ongoing regulatory challenges, Fleet Advantage remains steadfast in demonstrating resilience and innovation. With disruptions in the banking and finance industry affecting access to capital and escalating financing costs, Fleet Advantage has continued to offer value-added services and specialty financing solutions to its clients. These include pioneering programs such as Sale-Leaseback initiatives on equipment upgrades and advanced asset management services tailored to transportation fleets.
Amid fluctuations in the cost of capital and market dynamics, Fleet Advantage has maintained a strategic approach to raising capital and managing fleet procurement cycles. By leveraging advanced analytics and flexible financing options, the company has empowered its clients to build multi-year acquisition plans and make informed decisions that not only optimize total cost of ownership (TCO), but also enhance profitability.
Fleet Advantage’s commitment to innovation extends to its technology infrastructure investments, including the TCO Tech Stack, which provides organizations with comprehensive fleet analyses to identify various key performance indicators based on their total cost of ownership such as operations, finance, maintenance and repair, and ESG. Within the TCO Tech Stack is the company’s Electric Vehicle Analytic Navigator (EVAN) that compares diesel versus an electric class 8 vehicle TCO, with modeling that evaluates fuel and mileage data versus kWh comparisons from the first year through a six-year life cycle. EVAN has empowered Fleet Advantage’s clients to identify key performance indicators, optimize asset management, and evaluate the cost-effectiveness of alternative fuel vehicles. This and other advanced analytic tools are especially timely with the largest truck prebuy of Cass 8 vehicles expected in 2025 into 2026 due to the U.S. Environmental Protection Agency’s (EPA) upcoming round of emissions regulations targeting diesel exhaust emissions in 2027. The new standards will result in the cost of diesel trucks increasing between $25,000 and $30,000 more per unit.
Looking ahead, Fleet Advantage remains focused on delivering value to clients amidst evolving market dynamics and regulatory changes. By leveraging proven data analytics, advanced technology, and strategic planning to help organizations maximize their sustainability in operations, while also delivering the lowest total cost of operations, the company is poised to continue its leadership in the equipment finance industry.
“This is a fascinating time in our industry, marked by emerging technologies, new safety features, and alternative fuel vehicles juxtaposed against ongoing environmental regulations, supply chain disruptions, higher interest rates, and rising equipment costs,” said Brian Holland, President and CEO of Fleet Advantage. “We are proud of our ranking on Monitor’s Top Private Independents list and look forward to strengthening our lease origination volume, while continuing to help fleets improve their strategic decision making, unlock greater efficiencies, improve asset utilization, and reduce overall costs.”
For more information on Fleet Advantage’s ranking and to view the other companies listed as Monitor’s Top 30 Private Independents, please read the March/April Top Independents Issue of Monitor Magazine here.
About Fleet Advantage
Fleet Advantage is the largest independent lessor for heavy-duty Class-8 trucks and has over $3 Billion assets and over 20,000 units under its Life Cycle Cost Management program. This comprises a client portfolio of more than 50 of America’s top corporate fleets, including five (5) of the top 10 private fleets in the country. Fleet Advantage guarantees the absolute lowest cost of operation by providing fleet asset management, financing solutions, and fleet analytics, using the latest equipment technology to achieve optimum vehicle productivity and maximum safety. Our model of TCO, clean diesel, and safety-enhanced trucks with shorter life cycles complement our customers’ ESG goals. The accomplishments of Fleet Advantage and our leadership team continue to be recognized for tremendous growth and industry leadership with numerous awards, including Top Private Independent and Most Innovative Firm by the Monitor Daily, Top Software & Tech Awards, Top Women Associates in Finance, and Green Supply Chain Awards to name a few. The company has also been named to Inc. magazine’s 500|5000 list of fastest growing companies in the nation.
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