Company takes control over Autofleet
**Element Fleet Management Acquires Autofleet for $110 Million**
Element Fleet Management, a leading Canadian leasing and fleet management firm, has announced the acquisition of Autofleet, an Israeli fleet and mobility company, for $110 million. The deal, which was officially entered into by mid-2025, is expected to modernize Element Fleet Management's digital capabilities and enable faster scaling of its core business.
The acquisition of Autofleet, founded in 2018 and headquartered in Israel, brings approximately 70 professionals, including developers, engineers, and data scientists, to Element Fleet Management. Autofleet's AI-driven platform aims to enhance the client experience and accelerate digital capabilities at Element Fleet Management.
The payback period for the transaction, according to Element Fleet Management, is less than three years. The acquisition is expected to deliver increased value to Element Fleet Management's clients and shareholders. Frank Ruperto, CFO at Element Fleet Management, made these statements during a conference call with analysts to present the company's latest financial results.
The integration of Autofleet's technology into Element Fleet Management's operations started in 2024, with continued development and deployment through 2025. This strategic move is part of Element Fleet Management's broader strategy to innovate and expand its fleet and mobility solutions portfolio.
The transaction between Element Fleet Management and Autofleet is expected to be fee-accretive in 2025. Autofleet supports businesses in launching, managing, and scaling sustainable fleet operations across 20 countries on five continents. Post-acquisition, Autofleet will continue to operate independently.
The increase in net revenue was led largely by robust growth across all revenue line items, according to a press release. Element's net revenue increased by 14.1% to $274.6 million in the second quarter of this year. Element Fleet Management anticipates that the transaction will be fee-accretive in 2025.
The acquisition aims to strengthen Element Fleet Management’s procurement and fleet optimization offerings, particularly supporting multinational clients and advancing its AI-driven fleet management technology. This enhancement is expected to improve operational efficiencies, client retention, and growth in fleet management market share by accelerating digital transformation and delivering innovative mobility solutions.
Sources: [1] Element Fleet Management Q2 2025 Earnings Release [2] Element Fleet Management Press Release – Autofleet Acquisition [3] Autofleet Press Release – Element Fleet Management Acquisition [4] Element Fleet Management – Autofleet Acquisition Agreement Announcement [5] Element Fleet Management – 2025 Business Outlook Presentation
- The acquisition of Autofleet by Element Fleet Management, a Canadian leasing and fleet management firm, is anticipated to enhance its business operations and digital capabilities, specifically through the incorporation of Autofleet's AI-driven platform, thereby improving operational efficiencies and accelerating growth in the fleet management market.
- Frank Ruperto, CFO at Element Fleet Management, revealed during a conference call with analysts that the acquisition of Autofleet, an Israeli fleet and mobility company, is expected to be fee-accretive in 2025, and will also deliver increased value to Element Fleet Management's clients and shareholders, particularly by strengthening its fleet optimization offerings through technology integration.
