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class="easy-breadcrumb_segment-separator"> » </span> <span itemprop="itemListElement" itemscope itemtype="http://schema.org/ListItem"> <span itemscope itemprop="item" itemtype="http://schema.org/Thing" itemid="#4"> <span class="easy-breadcrumb_segment easy-breadcrumb_segment-title" itemprop="name">Element acquires Autofleet</span> </span> <meta itemprop="position" content="4" /> </span> </div> </div> </div> </div> </div> </header> </div> <div id="page"> <div id="main"> <div id="left-content"> <div id="content" class="column" role="main"> <a id="main-content"></a> <article class="node-780130 node node-article node-promoted view-mode-full view-mode-full clearfix" about="/en/leasing-and-rental/north-america/article/element-acquires-autofleet" typeof="sioc:Item foaf:Document" data-uid="41054" data-contentGroup1="auteur-Rodrigo-Alonso"> <header> <span property="dc:title" content="Element acquires Autofleet" class="rdf-meta element-hidden"></span> </header> <div class="required-fields group-content field-group-html-element"><div class="required-fields group-header field-group-html-element"><div class="field field-name-field-published-date field-type-datetime field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><span class="date-display-single" property="dc:date" datatype="xsd:dateTime" content="2024-08-19T03:45:00+02:00">19 Aug 24</span></div> </div><div class="field-ct field-ct-transliterated field-ct-article">News</div></div><div class="field field-name-title-field field-type-text field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><h1>Element acquires Autofleet</h1> </div> </div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-hidden multiple "> <div class="field-item even field-item-first field-item-0" rel="dc:subject"><a href="/en/tags/element" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Element</a></div> <div class="field-item odd field-item-1" rel="dc:subject"><a href="/en/tags/canada" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Canada</a></div> <div class="field-item even field-item-last field-item-2" rel="dc:subject"><a href="/en/tags/acquisition" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Acquisition</a></div> </div><div class="field field-name-field-image field-type-image field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0" rel="og:image rdfs:seeAlso" resource="https://www.globalfleet.com/sites/default/files/styles/headlines_width_850/public/field/image/shutterstock_1865266843.jpg?itok=iwc0upJA"><img typeof="foaf:Image" src="https://www.globalfleet.com/sites/default/files/styles/headlines_width_850/public/field/image/shutterstock_1865266843.jpg?itok=iwc0upJA" width="850" height="567" alt="Canada’s leasing and fleet management firm Element Fleet Management said it entered into a definitive agreement to acquire Israeli fleet and mobility solutions company Autofleet for $110 million." /></div> </div><div class="field field-name-body field-type-text-with-summary field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0" property="content:encoded"> <p>Canada’s leasing and fleet management firm Element Fleet Management acquires the Israeli fleet and mobility company Autofleet for $110 million.</p> <p>"We are confident that their expertise will enable us to fast-track the modernization of our digital capabilities, enhance our ability to scale our core business more quickly, and ultimately deliver increased value to our clients and shareholders,” President and CEO at Element Fleet Management, Dottori-Attanasio, said in a press release.</p> <p>Founded in 2018, Autofleet employs around 70 professionals, including developers, engineers, and data scientists, who support businesses in launching, managing, and scaling sustainable fleet operations across 20 countries on five continents, according to a separate press release from the Israeli company.</p> <p>Post-acquisition, Autofleet will continue to operate independently, allowing its team to focus on developing innovative solutions that address the evolving needs of fleets across various industries, the company added.</p> <p>The Canadian <a href="https://www.globalfleet.com/fr/leasing-and-rental/global/features/element-arval-strong-value-proposition-strong-growth?a=FJA05&t%5B0%5D=Arval&t%5B1%5D=Avis&t%5B2%5D=Fleet&curl=1">company Element</a> expects the transaction to be closed in the early fourth quarter 2024, it added.</p> <p>Element expects “the transaction to be fee-accretive in 2025 with a payback period of less than three years," Frank Ruperto, CFO at Element Fleet Management, said during a conference call with analysts to present the company’s latest financial results.</p> <p>Element’s net revenue increased by 14.1% to $274.6 million in the second quarter of this year “led largely by robust growth across all revenue line items,” according to the press release.</p> <p><em>Image: Shuterstock ID 1865266843</em></p> </div> </div> <div class="author">Authored by: <b>Rodrigo Alonso</b></div><div class="field-regions-with-themes field-name-field-channels"><div class="field-item"><a href="/en/themes/fleet-strategy">Fleet Strategy</a></div><div class="field-item"><a href="/en/themes/leasing-and-rental">Leasing and Rental</a></div><div class="field-item"><a href="/en/regions/north-america">North America</a></div><div class="field-item"><a href="/en/regions/asia-pacific">Asia Pacific</a></div></div><div class="required-fields group-footer field-group-html-element"><div class="addthis-wrapper"> <div class="addthis_inline_share_toolbox" data-url="" data-title="Element acquires Autofleet" data-description="Canada’s leasing and fleet management firm Element Fleet Management acquires the Israeli fleet and mobility company Autofleet for $110 million. "We are confident that their expertise will enable us..." data-media="https://www.globalfleet.com/sites/default/files/field/image/shutterstock_1865266843.jpg"> </div> <div class="label-share"> <span>Share</span> </div> </div> </div></div><span property="dc:title" content="Element acquires Autofleet" class="rdf-meta element-hidden"></span> </article> </div> <div class="region region-content-footer"> <div id="block-bean-marketplace-link" class="block block-bean"> <div class="entity entity-bean bean-block-image clearfix" about="/en/block/marketplace-link" typeof=""> <div class="content"> <div class="group-header field-group-div"><div class="field field-name-field-image field-type-image field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><div style="background-image: url("https://www.globalfleet.com/sites/default/files/styles/headlines_width_520/public/marketplace-logo_0.png?itok=-3j_ghRD");" class="single-image-background"></div></div> </div></div><div class="field field-name-field-website field-type-link-field field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><a href="https://marketplace.globalfleet.com/" target="_blank">Marketplace</a></div> </div> </div> </div> </div> <div id="block-bean-wikifleet-link-block" class="block block-bean"> <div class="entity entity-bean bean-block-image clearfix" about="/en/block/wikifleet-link-block" typeof=""> <div class="content"> <div class="group-header field-group-div"><div class="field field-name-field-image field-type-image field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><div style="background-image: url("https://www.globalfleet.com/sites/default/files/styles/headlines_width_520/public/wikifleet-logo_0.png?itok=a2ocZVu4");" class="single-image-background"></div></div> </div></div><div class="field field-name-field-website field-type-link-field field-label-hidden "> <div 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