Epika Fleet Services, Inc. Acquired by Ares Management

Rhea-AI Summary

Ares Management has acquired a majority stake in Epika Fleet Services, a leading mobile-focused provider of preventative maintenance and repair services for commercial trucking fleets. Founded in 2016, Epika operates across nearly 40 states, serving over 2,000 fleet customers with more than 550 skilled technicians performing mobile services.

The company operates approximately 20 in-shop centers in the U.S., offering a hybrid service model. The acquisition aims to provide Epika with significant capital to enhance service offerings, expand customer base in underserved areas, and strengthen its position as a mobile-solutions provider. The transaction's financial terms were not disclosed.

Positive

• Operating presence in 40 states with over 2,000 fleet customers
• Strong mobile service capability with 550+ skilled technicians
• Hybrid service model combining mobile and 20 in-shop centers
• Significant capital injection from Ares to fund expansion
• Strategic positioning in growing mobile-service fleet maintenance sector

Negative

• Undisclosed transaction terms limiting financial impact assessment
• Operating in highly competitive and fragmented maintenance sector
• Potential integration and scaling challenges in underserved markets

NASHVILLE, Tenn., April 21, 2025 /PRNewswire/ -- Epika Fleet Services, Inc. ("Epika" or the "Company"), a leading mobile-focused provider of preventative maintenance and repair services for commercial trucking fleets, announced that an Ares Private Equity fund ("Ares") has acquired a majority stake in the Company. The transaction provides Epika with significant additional capital to support investments in the quality and buildout of its service offerings, expand its customer base in underserved geographies and cement the platform as a mobile-solutions provider of choice for fleet operators.

Founded in 2016, Epika has rapidly scaled its platform by establishing leading capabilities in commercial fleet repair and maintenance services and building a strong local presence in key U.S. regions. Today, Epika operates across nearly 40 states and serves over 2,000 fleet customers. The Company's significant growth has been driven largely by its mobile-delivery service offerings, with over 550 skilled technicians performing regular inspections, preventative maintenance and repairs for fleet customers on the road every day. The Company also operates approximately 20 in-shop centers in the U.S., providing a hybrid offering for customers who require complex repairs or emergency services.

"Thanks to the dedication of our technicians and the efforts made by the entire team, Epika has earned a reputation as a leading mobile-first provider in the maintenance and repair sector across the U.S.," said Joe Dougherty, CEO of Epika. "We're thrilled to partner with Ares as we enter our next chapter of growth. Their support will further amplify the success we've built — strengthening our national footprint and deepening the loyalty of our customer base. This transaction underscores the significant opportunities ahead as we accelerate our go-to-market strategy and continue to expand our mobile-service platform."

"We're proud to partner with Epika to invest behind the strong secular themes driving mobile-first players," said Natasha Li and Mike Nawrot, Ares Private Equity. "In this large and underpenetrated sector, fleet operators are increasingly seeking mobile-service solutions that help them achieve reduced operating complexity and enhanced fleet productivity. Epika is well positioned to capture this significant demand with a platform built on high-quality service that meets fleet customers where and when they need. We look forward to working with Joe and the Epika team in executing on their strategy for continued growth and innovation in the coming years."

Terms of the transaction were not disclosed. William Blair served as exclusive financial advisor and Reed Smith LLP and Maslon LLP served as legal advisors to Epika. Piper Sandler served as exclusive financial advisor and Sullivan & Cromwell LLP served as legal advisor to Ares on the transaction.

About Epika Fleet Services, Inc.

Epika is a leading national provider of mobile-focused essential maintenance and repair services to commercial fleets. Epika delivers a comprehensive suite of preventative maintenance and repair services through a mobile-first platform supported by in-shop capabilities. Serving a diversified customer base, Epika helps keep mission-critical fleets moving by minimizing downtime and improving asset performance. The Company operates in nearly 40 states and serves over 2,000 customers. To learn more, visit www.epikafleet.com.

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2024, including the acquisition of GCP International which closed on March 1, 2025, Ares Management Corporation's global platform had over $525 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

Contacts

Epika Fleet Services, Inc.

Megan McTaggart
612-509-1411
393643@email4pr.com

Ares Management

Jacob Silber | Brennan O'Toole
393643@email4pr.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/epika-fleet-services-inc-acquired-by-ares-management-302432610.html

SOURCE Epika Fleet Services, Inc.

FAQ

What is the strategic importance of Ares Management's acquisition of Epika Fleet Services?

The acquisition provides Epika with significant capital to enhance service offerings, expand into underserved markets, and strengthen its position as a leading mobile-solutions provider for fleet operators.

How many states and customers does Epika Fleet Services currently serve?

Epika operates across nearly 40 states and serves over 2,000 fleet customers with more than 550 skilled technicians.

What is Epika Fleet Services' current operational capacity and service model?

Epika operates with 550+ mobile technicians and 20 in-shop centers, offering a hybrid model of mobile maintenance and repair services alongside fixed location services.

How will the Ares acquisition impact Epika's market expansion strategy?

The acquisition will support Epika's expansion into underserved geographies, enhance service offerings, and accelerate their go-to-market strategy in the mobile-service platform sector.

What are the key growth drivers for Epika Fleet Services' business model?

Growth is primarily driven by mobile-delivery service offerings, with increasing demand from fleet operators seeking mobile-service solutions for reduced operating complexity and enhanced fleet productivity.