Element Sells Stock, Winds Down Investment in Celadon Joint Venture
Element Fleet Management Corp. has sold 45 million shares of stock to a group of banks and investment firms for $300 million and will use the net proceeds to pay down debt and implement a plan to “meaningfully” improve the company’s financial performance and position the business for growth.
October 15, 2018Element Names Acting CEO, Rejects Possible Sale
The board of directors of Element Fleet Management Corp. named Dan Jauernig acting CEO and has rejected a proposal from some of its shareholders that it explore a possible sale of the business.
February 12, 2018Element to Create Separate Fleet Management, Equipment Finance Units
Element Financial Corp. plans to split into two publicly traded companies — one devoted to fleet management and the other to equipment finance.
February 18, 2016Element Strikes $6.9 Billion Deal for GE’s Fleet Management Unit
Element Financial Corp. is set to become the largest operator of commercial vehicles in North America after striking a deal to acquire all of GE Capital’s fleet management business in the United States and Mexico for $6.9 billion.
July 6, 2015