CB Fleet Co Inc has been making waves in the industry with its recent acquisition and investment moves. The company has been aggressively expanding its fleet, with a goal of reaching 50,000 vehicles by the end of 2023.
CB Fleet Co Inc's acquisition of ABC Logistics in 2020 marked a significant milestone in its growth strategy. This move not only increased its fleet size but also provided access to new markets and customers.
The company's investment in alternative fuels has also been a notable development. CB Fleet Co Inc has committed to reducing its carbon footprint by 20% by 2025, with a focus on electric and hybrid vehicles.
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Acquisition and Investment
C.B. Fleet Company, Inc. has been acquired by Gryphon Investors, a San Francisco-based middle-market private equity firm.
Gryphon Investors has a history of making leveraged acquisitions of middle-market companies in partnership with experienced management teams, with over $1.4 billion of cumulative equity commitments.
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The acquisition of Fleet Laboratories is a significant investment for Gryphon, with the company's management team remaining in place to continue leading the company.
Fleet Laboratories has a commanding position in the OTC and personal healthcare product areas, with a strong brand advantage in the personal healthcare segment under the leading feminine hygiene brand, Summer's Eve.
As part of the transaction, Steve LaMonte, a Gryphon advisor, will become Chairman of the Board, bringing his experience as a senior executive in both OTC and personal healthcare businesses to the role.
Gryphon's expertise and financial resources will be leveraged to support Fleet Laboratories' continued growth and competitiveness in the global personal healthcare and OTC markets.
This acquisition marks the fourth transaction completed for Fleet Laboratories by Oaklins' team in the USA.
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Frequently Asked Questions
Who is the CEO of CB Fleet?
The CEO of C.B. Fleet is Jeff Rowan, who serves as both the Chief Executive Officer and President.
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