On July 21, 2022, Merchants Fleet, the nation’s fourth largest provider of fleet management services, announced that Bain Capital and a wholly owned subsidiary of the Abu Dhabi Investment Authority signed a definitive agreement to acquire the company. Founded in 1962, Merchants has over $2 billion in assets under management and 165,000 managed commercial fleet units across North America. The company has a unique business model focused on forward-thinking technology solutions, innovative fleet services and the proactive adoption of electric vehicles.
The WilmerHale team representing Merchants was led by Joe Conahan and Andy Alin, and included Erin Bruynell, Matt Engellenner and Morgan Olle with assistance from Justin Ochs and Chalyse Robinson on financing matters, Bill Caporizzo and Meghan Walsh on tax matters, Scott Kilgore on employment matters and Hartmut Schneider and Carla Gilbertson on antitrust matters.