Latest Fleet Management News

The Supreme Court of Victoria has approved FleetPartners’ $27 million settlement of shareholder class action proceedings. The company says available insurance proceeds will cover the full amount, with no admission of liability.

FleetPartners has received revised takeover proposals from SG Fleet, ORIX and the Sumitomo Consortium, with ORIX and Sumitomo offering the highest disclosed price of $4.65 per share. Element has withdrawn, while the three remaining bidders receive further due diligence access, although no binding deal is assured.

MaxiPARTS has received a $2.50 per share indicative cash offer from Ares Management Asia, representing a substantial premium and triggering a four-week exclusivity period for due diligence. Concurrently, MaxiPARTS is acquiring Air Brake Systems for $11.2 million, a move expected to boost earnings and expand its product range.

Alliance Aviation Services posted a statutory loss of $90.9 million in FY2026, driven by a $164.8 million impairment on its Fokker fleet, while underlying profit remained within guidance. The company is realigning around core FIFO operations, fleet renewal, and cost discipline, supported by a $40 million equity raise and revised Qantas wet lease terms.

FleetPartners has received a fresh non-binding offer from a Sumitomo-led consortium valuing the company at $3.85 per share, joining a competitive field of bidders vying for control.

FleetPartners has granted limited due diligence access to SG Fleet, Element Fleet Management, and ORIX following their indicative takeover proposals, signalling a cautious but open approach to potential acquisition bids.

FleetPartners is navigating a competitive acquisition landscape with three conditional offers on the table, rejecting Element's exclusivity request while considering higher bids from SG Fleet and ORIX.

FleetPartners has dismissed SG Fleet’s $3.60 per share bid as undervaluing the company and is now weighing a superior $3.80 to $4.00 per share offer from Element Fleet Management, subject to exclusivity and regulatory approvals.

Alliance Aviation Services has secured a materially improved wet lease agreement with Qantas, including higher pricing and a fleet reduction, while reaffirming its FY26 profit guidance amid operational realignment.

AoFrio’s revenue fell 21.5% in 1H26, dragged down by a 50.5% plunge in motor sales due to US tariffs, while IoT revenue grew modestly. The company launched new cellular and software platforms, raised NZD 8.9 million, and is expanding into Food Retail, but full-year revenue growth now looks unlikely.

EROAD has appointed David Leach as CEO, effective October 2026, aiming to leverage his SaaS scaling expertise to accelerate growth and develop an AI-native platform.

FleetPartners has received a non-binding, conditional indicative offer from SG Fleet to acquire all outstanding shares at A$3.601 each, subject to due diligence and regulatory approvals.