Amerit Fleet Solutions Partners with New Mountain Capital for Next Phase of Growth

New Mountain invested alongside existing shareholders – Brightstar Capital Partners and Amerit’s management team – to accelerate growth of the business

WALNUT CREEK, Calif. & NEW YORK--(BUSINESS WIRE)--Amerit Fleet Solutions (“Amerit”), a premier provider of commercial fleet maintenance and repair services, is pleased to announce that it has partnered with New Mountain Capital, a leading growth-oriented investment firm with over $55 billion in assets under management.

Amerit, founded in 2010, is an industry-leading provider of preventative maintenance and repair services for commercial fleets across the United States. The Company offers exceptional service quality, managing all aspects of fleet maintenance operations with bespoke solutions that maximize the performance and reliability of its customers’ mission-critical assets. New Mountain’s growth-oriented majority investment will support Amerit’s continued expansion as the Company builds upon its nationwide footprint and furthers its mission of providing cost-effective maintenance solutions for a broader range of fleet customers. Today, Amerit’s team of more than 2,500 dedicated field technicians help support more than 300,000 customer assets across all 50 states.

"Our partnership with New Mountain Capital supports Amerit in its continued mission to deliver high-quality fleet maintenance services and expertise to our growing base of clients,” said Dan Williams, Co-Founder & CEO of Amerit. "We’re eager to begin this next chapter at our company, led by our strong foundation of technical talent, to deliver quality service and strong customer ROI."

“New Mountain’s backing will strengthen Amerit’s ability to make targeted investments in talent, technology, and service delivery,” added Amein Punjani, Co-Founder & COO of Amerit. “We are similarly thrilled that our current investor base has reinvested with us, and this continued partnership will allow for seamless execution of ongoing operational innovation.”

“We have long been impressed by Amerit and the unique culture and exceptional talent base that Dan and Amein have built since founding the business,” said William Haley, Director, and Robert Mulcare, Managing Director of New Mountain Capital. “We are excited to collaborate with Amerit’s management team to drive continued operational excellence, build upon existing client relationships, accelerate organic growth through various expansion initiatives, and support management in executing strategic acquisitions.”

Brightstar Capital Partners, a middle market private equity firm focused on partnering with families, founders, entrepreneurs, and management teams, will remain a minority shareholder alongside New Mountain Capital.

"We are proud of our partnership with the talented team at Amerit and the tremendous growth they’ve achieved over the past four years," said Mike Singer, Partner of Brightstar Capital Partners. "We are confident that Amerit is poised for continued success and look forward to participating as an investor throughout the Company’s next chapter."

Amerit and its existing investors were advised by Moelis & Company as lead financial advisor, Jefferies LLC as financial advisor, and Kirkland & Ellis LLP as legal counsel. Ropes & Gray served as legal counsel to New Mountain Capital.

About Amerit Fleet Solutions

Amerit's trusted and respected team of fleet maintenance professionals leverages a nationwide infrastructure, including mobile maintenance solutions, to provide custom-built maintenance programs for our customers, wherever and whenever they are needed. Our team of highly skilled technicians and managers provide customized maintenance and repair programs to over 300,000 vehicles to improve clients' fleet uptime, safety, and reliability. Amerit's comprehensive and innovative service solutions, driven by core values of partnership and integrity, deliver peace-of-mind to customers while keeping their assets on the road anywhere across the country. For more information, please visit www.ameritfleetsolutions.com.

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than excessive risk, as it pursues long-term capital appreciation. The firm currently manages private equity, strategic equity, credit, and net lease real estate investment strategies with over $55 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information, please visit www.newmountaincapital.com.

About Brightstar Capital Partners

Brightstar Capital Partners is a middle market private equity firm with over $5 billion in assets under management that is focused on investing in business services, industrials, consumer, and government services and technology companies, where Brightstar believes it can drive significant value with respect to the management, operations, and strategic direction of the business. Since its founding in 2015, Brightstar has accumulated extensive experience partnering with family, founder, or entrepreneur-led businesses. Brightstar employs an operationally intensive “Us & Us” approach that leverages its considerable hands-on operational expertise and deep relationship network to help companies reach their full potential. For more information, please visit www.brightstarcp.com.