Five former Ryder executives have formed a new truck sales company that will offer customers a life-cycle approach to managing their transportation assets.
Transportation Equipment Asset Management (TEAM) Vehicle Sales is the organization founded by five former executives from Ryder Transportation Services: Jim Guice, Louis Franklin, Daryl Cornell, Steve Brown and Tom Mata.
The five, who were responsible for managing the operations of Ryder's vehicle sales division, have formed the new company in partnership with Trivest, a Miami, FL-based private investment firm. Ryder's vehicle sales division is the world's largest used truck organization, with 38 retail locations throughout the U.S.
According to TEAM officials, the new company "will offer customers a total life-cycle approach to managing highway transportation assets, with the goal of reducing overall equipment costs and stabilizing capital expenditures."
Along with equipment, it will also offer fleet analysis, vehicle specification, purchasing services, new vehicle financing and vehicle securitization of existing fleets.
The company plans to set up 26 independent retail truck sales centers over the next five years in major markets nationwide. Additional truck, tractor and trailer sales capacity will be provided through proprietary wholesale channels.