Aug 20, 2014
PHH Arval transitions to Element fleet management
Mississauga, ON – Trade publication Automotive Fleet reported the go-to-market name for PHH Arval will transition to Element Fleet Management between now and the end of 2014. Element Financial acquired PHH’s North American fleet management business for $1.4 billion in July 2014.
According to the Element Financial news release announcing the acquisition, the PHH Arval acquisition transformed Element’s fleet management business increasing the size of the company’s portfolio of fleet assets to $6 billion. The combined employee base will serve customers through Element Fleet Management’s U.S. head office in Sparks, Maryland and its Canadian head office in Mississauga, Ontario supported by the Arval global alliance that will service clients’ needs in more than 40 countries beyond North America.
Element’s Fleet Management business will be led by Jim Halliday, current president of PHH Arval. “Element’s focused and disciplined approach to growth presents us with an exceptional opportunity to deliver new solutions and a broader scope of services to our clients,” said Halliday. “I believe our passion for customer service together with the added scale and financial strength to support increased investment in technology and product development, sets Element Fleet Management apart as North America’s premier fleet management company.”