Guardian Fleet Services Inc. Announces Mergers
WEST PALM BEACH, Fla., January 21, 2019 (Newswire.com) - Guardian Fleet Services Inc. of West Palm Beach, Fla., has announced a merger with Professional Towing Inc. As a result of the merger, Guardian Fleet Services will acquire American Towing and Transport Inc., Larsens Automotive Inc. and Riteway Towing Inc., all subsidiaries of Professional Towing based in Tampa Bay region.
The deal, for an undisclosed amount, became effective on Jan. 1, 2019. The transaction expands Guardian Fleet Services by approximately 60 vehicles. The move to acquire Professional Towing furthers Guardian Fleet Service’s goal of providing strong and timely customer service throughout the state of Florida, according to Scotty Crockett, Guardian Fleet COO.
Professional Towing, headquartered in Seffner, Fla., and its subsidiaries specialize in light-, medium- and heavy-duty towing, along with a strong specialized towing fleet aimed at the over-dimensional transportation sector.
Professional Towing will continue to be managed by Mark Kara and his well-qualified staff. Guardian Fleet Services' management will be meeting with Professional Towing's existing clients and stakeholders in the weeks ahead to assure a seamless transition and continuity of service.
As a nationally recognized leader in its field, Guardian Fleet Services is the largest employee stock ownership program (ESOP) business in the towing and recovery industry. The acquisition means that Professional Towing employees will join Guardian Fleet Services employees in controlling approximately 30 percent of the company’s shares.
The remaining 70 percent is controlled by existing owners. There are numerous benefits for both owners and employees of an ESOP as every employee has a vested interest in meeting customers' needs in a timely and safe fashion.
About Guardian Fleet Services Inc.:
Guardian Fleet Services Inc. was formed in 2017 following the merger of Kauff's Transportation Systems Inc. of West Palm Beach and Crockett's Towing LLC of Tampa, Fla. The newly merged company then bought the towing and recovery assets of RSC Corp. of Orlando. Today, Guardian Fleet Services companies have a combined 100-plus years of service, over 300 employees and more than 350 pieces of equipment combined.
For more information on the mergers, contact Guardian Fleet President Geoff Russell at 800-432-7182 or grussell@guardianofthehighways.com.
Source: Guardian Fleet Services Inc.
