FORT LAUDERDALE, Fla. (January 25, 2022) – Fleet Advantage, a leading innovator in truck fleet business analytics, equipment financing, and life cycle cost management (LCCM) announced today new milestones achieved in exceeding over $2.5 billion in lease originations over the last ten years and helping it become the largest independent lessor for heavy-duty Class-8 trucks.
Strategic & Consistent Asset Management
A primary reason Fleet Advantage reached these accomplishments was its continued emphasis on helping clients remain steady and consistent in their asset management and planning. The company’s pioneering focus on the use of advanced data analytics, coupled with its early truck lease exchange program EXchangeIT® and lease extension flexibility helped clients stay ahead of the procurement turbulence felt across much of the broader industry.
Heading into 2022, there remain new challenges companies with transportation fleets must tackle to remain successful within the competitive industries in which they operate. With over 90% of their leases rated as investment grade, Fleet Advantage’s strong emphasis on strategic consultations and customer service, along with key relationships with Equipment Manufacturers, dealers and finance partners, have helped the company achieve a consistent growth rate over the last ten years of 27%. The company is now working with 5 of the top 10 private fleets in the country.
“Relative to the greater industry challenges, we’re fortunate to reflect on the record-setting accomplishments and achievements we had over the last twelve months,” said John Flynn, CEO of Fleet Advantage. “Our success during this time is a testament to the hard work of our dedicated associates, and our customers who operate under a business philosophy that embraces flexibility in their asset management strategies.”
Maintaining Long-Term Strategies
Fleet Advantage strongly believes that clients that have leveraged the power of data analytics for asset management and procurement, along with flexible lease solutions should continue to maintain this strategy with only minor course corrections as the industry continues to navigate additional procurement challenges. The company believes fleets should stay true to their beliefs and not surrender or be held captive to the current supply chain disruption. Fleets that maintain planning discipline through what has been confirmed by data analytics will continue to lead the industry, especially since the laws of science and economics will not be compromised because of current supply chain disruptions.
“While some in the industry are using fear to pressure fleets to pivot their asset management strategies, we strongly believe fleets should stay the course and rely on proven data analytics-driven philosophies for life cycle asset management,” added Flynn. “Those fleets that take an active, disciplined approach to maintaining shorter life cycles will continue to lead the industry with the most advantageous Total Cost of Ownership despite disruptions to the system.”
About Fleet Advantage
Fleet Advantage has over $1.5 Billion of assets under its Life Cycle Cost Management (LCCM) program and serves America’s top corporate fleets. Fleet Advantage guarantees the absolute lowest cost of operation by providing fleet financing solutions with matching proprietary data driven IT processes and fleet analytics, using the latest equipment technology to achieve optimum vehicle productivity and maximum safety. Fleet Advantage is ranked as one of the fastest-growing privately held companies in the state of Florida and the fastest growing independent truck lessor in the U.S. Fleet Advantage is also named a Top Private Independent firm by the Monitor Daily. In 2015 and 2013, the company was named to Inc. magazines’ 500|5000 list of fastest growing companies in the nation. In 2011, CEO John Flynn received the Ernst & Young Entrepreneur of the Year® 2011 Florida – Emerging Category award.