MErchants fleet History
Stability, Strength and Integrity
Traditional values, professionally refined. The History of Merchants Fleet.
Since our inception in 1962, Merchants Fleet has had one simple goal: To deliver the very best in product and customer service to our clients. While times have changed, our position in developing forward-thinking concepts into actionable results remains constant. We’re proud to have grown from a single automotive dealership in Southern New Hampshire into a nationwide fleet management company, all while maintaining our dedication to flexibility and the promise of “best in class and built to last” service.
1962
Merchants Motors Founded
Irving Singer founded Merchants with the goal of starting a used automotive dealership in Southern New Hampshire. Impressed with the service he received from Merchants Bank, Irving borrowed not only cash but the bank’s name too. In 1962 “Merchants Motors” opened with 50 used cars and a philosophy based on customer service and philanthropy.
1964
National Car Rental Business Launches
To build upon its high levels of customer satisfaction, Merchants proudly opened its first rental car location, which was aligned with the National Car Rental brand. Combined with the success of the auto dealership and service department, Merchants quickly became synonymous with dependability, fairness, and honesty.
1967
Local Leasing Business Opens
From the beginning, Merchants offered much more than just cars for sale. Merchants offered automotive services and rentals, which led to the local fleet leasing business in 1967. When Irving Singer retired, his sons Stephen, Robert, Alan, Jeffrey, Gary, and son-in-law Michael Sydney took over the business and continued to grow it based on their father’s full-service philosophy.
1972
Hooksett Becomes Flagship Location
With business booming, Merchants sought a new location that could properly support the needs of his customers well into the future. The business moved to a lot in Hooksett, which after numerous renovations and improvements, still serves as the location for the automotive dealership today.
1977
Merchants Rent-A-Car Expands Service Area
Always looking for ways to enhance the customer experience, Merchants Rent-A-Car expanded its operations and opened a satellite location in Salem, New Hampshire. Other locations soon followed, and at its operational peak, the company owned and managed 17 locations throughout New Hampshire, Vermont, and Massachusetts.
1980
Merchants Opens Regional Leasing Business
Merchants Leasing continued to grow and succeed, and in 1980 the company began its expansion across the region.
1983
Merchants Rent-A-Car Expands Nationally
Merchants Rent-A-Car moved forward as an independent agency and, in doing so, became the largest non-affiliated rental car company in the United States.
1987
Merchants Celebrates 25 Years
In 1987, Merchants celebrated another milestone – 25 years in business.
1991
Irving Singer Passes Away
To the company’s profound sadness, our founder, Mr. Irving Singer, passed away in 1991. The second generation of the Singer family, led by Irving’s son Stephen Singer, took over leadership of the company. While Irving’s physical presence left, his dedication to the local community and employees, as well as his drive towards excellence in all facets of life, lives on through his family.
1992
Merchants Receives $50M Commitment from First NH Bank
Merchants continued to grow and succeed. In recognition of this success, First NH Bank established a full relationship with the business and facilitated $50,000,000 in financing commitments. The bank also profiled the company’s success story in their First Report, highlighting the company’s commitment to customers and the community.
1993
Merchants Hires First Outside Board of Advisors
In response to the company’s continued growth, Merchants brought in its first outside board of advisors. The board offered extensive expertise as the company transitioned to its current model of being privately-owned and professionally managed.
1995
National Leasing Business Opens
The Merchants commitment to exceptional service in automotive services and rentals continued to drive the company’s growth. Merchants took its leasing business to the next stage by offerings its services across the country.
2001
Robert & Gary Singer Named Co-CEOs
Continuing the tradition of family leadership, brothers Robert and Gary Singer took the helm of Merchants as Co-CEOs in 2001. They held these roles until 2003.
2003
Phil Ryan named as Merchants first CEO
By bringing in a CEO, the company furthered its strategic initiative to become privately owned and professionally managed. Phil held the CEO position for 9 years.
2003
Professional Management Team Hired
In 2003, a professional management team was hired to bring additional industry talent to the executive team and to accelerate the organization’s growth.
2004
Merchants Acquires Mirak Leasing
With an eye towards further expansion in the fleet leasing industry, Merchants acquired the vehicles and lease agreements of Mirak Leasing of Arlington, Massachusetts. The transaction boosted the national presence of the company through immediate growth and increased logistical capabilities.
2004
Merchants Launches Short-Term Leasing
Following its long-term corporate growth strategy, Merchants closed its rent-a-car business and shifted its sights to the market for short-term leasing. This transformation allowed the organization to fully support the customized needs of clients by delivering unique fleet solutions created on a flexible scale.
2005
Gary Singer Becomes Chairman & President
In 2005, Gary Singer assumed the position of Chairman & President of the Board.
2007
Merchants Leasing Acquires One Fleet Source
Merchants purchased the business of One Fleet Source, LLC, (OFS) of Overland Park, Kansas, to strengthen its ability to better serve short-term leasing clients throughout the country. The acquisition of one of the largest and most respected competitors in the rental and short-term leasing business proved ideal in expanding the company’s geographical footprint into the mid-west and western regions of the country.
2011
Merchants Leasing Acquires ALD Automotive USA
In a move which reinforced its leading position in the fleet leasing and fleet management industries, Merchants Leasing acquired the North American arm of ALD Automotive, one of the largest fleet providers in Europe. As a result of this transaction, Merchants took ownership of ALD’s U.S. customer base of about 3,300 vehicles.
2011
Gail Singer Memorial Blood Drive Becomes Nation’s Largest
In 2011, the Gail Singer Memorial Blood Drive, which is held every year in memory of Gary Singer’s late wife Gail, reached the milestone of being the nation’s largest Red Cross blood drive. Nearly 2,000 pints of blood were collected from over 2,300 potential donors in a single day. The event now spans two days and continues to be the Singer Family’s signature community service activity.
2012
Glen Villano Becomes CEO
In 2012, Glen Villano was promoted from Chief Operations Officer to CEO. Glen had joined Merchants in 2008 and worked with senior leadership to develop a multi-million dollar enterprise management system to sustain operations. He served as CEO for five years.
2012
Robert Singer Named President
To continue the organization’s excellence and commitment to employees and clients, Merchants proudly selected Robert Singer to fill the role of President, which was vacant after the retirement of Stephen Singer. Throughout his career, Robert’s vision and drive have played a major role in the aggressive and profitable growth of Merchants Fleet, and his contributions have proven successful in broadening the reach of the company.
2013
Merchants Launches Fleet Management Business
As Merchants continued to grow, it quickly became more than simply leasing. Merchants formally launched itself as a fleet management company in 2013, reflecting the full suite of service offerings it could offer its clients in addition to vehicle financing and leasing.
2013
Merchants Receives 2013 Key Supplier Award from Bechtel Corporation
Merchants was recognized as a Key Supplier by the Bechtel Corporation for its valuable contributions to Bechtel’s power projects. Nominees were chosen by Bechtel’s procurement and contract managers, and winners were chosen by senior leaders. Qualifications for this achievement included overall performance, delivering quality equipment on time, working collaboratively to meet milestones, and meeting or exceeding project expectations of safety, construction performance, technical expertise, and environmental compliance.
2014
Merchants Launches TotalView
In order to deliver unparalleled personalized service in the digital age, Merchants proudly launched TotalView. This analytics-driven fleet management solution became a standard part of the company’s service package and enables fleets to strategically make data-based decisions aligned with their specific operational and business goals.
2014
Merchants Reaches 25,000 Managed Units
In 2014, Merchants reached a significant milestone – 25,000 vehicles under management. It was a marker of the company’s evolution into a significant player in the fleet management industry thanks to its continual focus on innovation, flexibility, and most importantly the client.
2014
Merchants Innovation Center Opens
To accommodate Merchants Fleet’s continued success and rapid growth in its technology offerings, a state-of-the-art Innovation Center was opened in Chicago on June 20, 2014. The new location reinforced the company’s commitment to serving current and prospective clients, expanding upon its technological center of excellence, and attracting and retaining top talent in the fleet management industry.
2015
Merchants Named Best Company to Work For
Merchants was named a 2015 Best Company to Work For Award winner by Business NH Magazine. This distinction recognizes businesses that go out of their way to develop a respectful, creative, and supportive corporate culture that supports a highly engaged workplace.
The company is proud to have received this distinguished award in 2015, 2016, 2017, 2018, 2019, 2020, and 2021.
2015
Merchants Acquires Alamo Leasing
Merchants Fleet acquired Texas-based Alamo Leasing, the latest in a series of partnerships and acquisitions aimed at bolstering the company’s strategic plan for controlled growth. The move further advanced the expansive growth strategy of the organization and firmly entrenched Merchants among the nation’s top 10 fleet management companies.
2016
Merchants Fleet Is Great Place to Work Certified
Merchants Fleet reached another company culture milestone in 2016, when it achieved Great Place to Work certification for the first time. Great Place to Work certification uses validated employee feedback and data-driven methodology to confirm that at least 7 out of 10 employees have a consistently positive experience at their company. Merchants has achieved this certification in 2016, 2017, 2018, 2019, 2020, and 2021.
2016
Merchants Assembles Client Advisory Board
In 2016, Merchants launched its Client Advisory Board in order to deepen relationships with clients, better understand client pain points, and solicit ideas and feedback. The CAB has proven to be an invaluable resource to the company, and it continues to be a source of insight and inspiration into how to continually meet fleet professionals’ evolving needs.
2017
Merchants Wins “Cool Company for Young Professionals”
Merchants won the “Cool Company for Young Professionals” award at the 2017 Rising Stars Awards. The organization Stay, Work, Play developed this award to honor companies in New Hampshire that create environments to attract, develop, and retain young workers.
2017
Brendan P. Keegan Named CEO
Merchants Fleet is committed to seeking dynamic leaders that embody the Merchants Fleet spirit. In 2017, the organization hired Brendan P. Keegan as its Chief Executive Officer. As an award-winning executive, Keegan’s understanding of fleet management and the company’s mission position him and Merchants Fleet for remarkable success and growth in the years ahead.
2018
Merchants Eclipses 50,000 Managed Units
Building upon an expansive growth strategy and incorporating key corporate initiatives, Merchants surpassed the 50,000 managed units milestone. In the 5 years leading up to this milestone, the company expanded its portfolio by 46%, bringing it another step closer to achieving its goal of doubling the size of the company by 2023.
2018
Merchants Named Best and Brightest Company to Work For®
In the winter of 2018, Merchants was recognized again for its outstanding culture and was ranked among the country’s Best and Brightest Companies to Work For®. The award recognizes companies that excel at employee relations, use innovation to motivate employees, implement creative compensation programs, and more. Six months later, Merchants was highlighted again when it received an award for Chicago’s Best and Brightest Companies to Work For®.
2019
Merchants Launches FleetTech Business
Forces like connectivity, intelligence, multi-modal transportation, and efficiency are continually impacting how people and businesses move goods and services. In light of these industry changes, Merchants repositioned itself as a FleetTech business in 2019. The company shortened its name from Merchants Fleet Management to Merchants Fleet, adopted a new logo, and launched a new website to reflect its focus on connecting clients with the technology, fleet services, and specialized teams required to meet their evolving transportation needs.
2019
Merchants Recognized for Excellence in Digital Innovation
The Merchants technology team was recognized at the Hitachi Solutions Customer Conference with an award for Excellence in Digital Innovation. “Merchants Fleet is one of the best examples of a company that is taking real action to lead with digital thinking as they build their product road map. They are always stretching themselves to think innovation in every new strategy they develop,” said Jessica Hawk, COO of Capax Global, a Hitachi Group Company.
2020
Merchants Fleet Made Inc. Magazine’s Annual Inc. 5000
In August 2020, Merchants Fleet made Inc. magazine’s annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
2020
Merchants Secures $50 Million in Growth Financing from Bain Capital Credit
Merchants Fleet secured $50 million in growth financing from Bain Capital Credit. The financing further enables the company to further accelerate its growth trajectory and mission of bringing disruptive change to the fleet management industry, which impacts over 3.2 million commercial cars and trucks.
2020
Merchants Named One of Chicago’s Best and Brightest Companies to Work For®
Merchants Fleet was proud to have been named one of “Chicago’s Best and Brightest Companies to Work For®” by the Best and Brightest Companies to Work For® national recognition program for the 3rd year in a row. Companies throughout the greater Chicago region compete for this recognition each year, and only those who distinguish themselves as having the most innovative and thoughtful human resources approach are bestowed the honor.
2020
Merchants Fleet Wins Three Stevie® Awards in 2020 American Business Awards®
Merchants Fleet was honored with three coveted Stevie® Awards in the 18th annual American Business Awards. The company received a gold Stevie for “Fastest Growing Company of the Year,” and two bronze Stevies for “Most Innovative Company of the Year” for companies up to 2,500 employees as well as “Achievement in Management” in recognition of Merchants Fleet CEO Brendan P. Keegan. In 2021, John Cail, Senior Vice President of Mobility, was awarded the Gold Stevie ® Award for Senior Sales Executive of the Year, and Merchants Fleet was awarded a Gold Stevie® for Innovation in Sales. More than 2,300 nominations from organizations of all sizes and in virtually every industry, in 51 nations, were considered for the 2021 awards.
2021
Fortune Names Merchants Fleet One of the 2021 Best Workplaces in Financial Services & Insurance™
Fortune honored Merchants Fleet by naming it one of the Best Workplaces in Financial Services & Insurance™. This marks the first time Merchants has been featured on this prestigious list. The Best Workplaces in Financial Services & Insurance award is based on analysis of survey responses from more than 840,000 current employees across the U.S. In that survey, 93% of Merchants’ employees said Merchants Fleet is a great place to work.
2021
Merchants Hits 150,000 Managed Units Milestone
Through delivering an exceptional client experience, driving technology enablement, scaling up operationally and fueling an employee-first culture, Merchants surpassed the 150,000 managed unit mark in 2021. The company continues to target electrification, with a goal to make 50% of its mobility fleet portfolio electric by 2025 and 50% of its managed fleet portfolio electric by 2030.
2021
Merchants Fleet Slated to be BrightDrop’s First Fleet Management Customer
Merchants Fleet announced plans to further electrify its portfolio with BrightDrop, a General Motors subsidiary that builds electric first-to-last-mile products and software services. Merchants has an intent to buy 12,600 BrightDrop EV600s and 5,400 EV410s. These all-new, electric light commercial vehicles, are purpose-built for the delivery of goods and services over long ranges and are powered by the Ultium battery system.
2021
Merchants Launches Industry-First Fleet Electrification Hub
Merchants Fleet launched the Electrify Fleet Hub, an online tool providing centralized information that helps fleet managers make a seamless adoption of electric vehicles (EVs). Helping to further Merchants’ $2.5 billion commitment to electric vehicles, it’s the first tool of its kind for the fleet industry. The Hub features an EV Finder letting users easily research current and future EV models based on their needs. The tool also provides EV adoption planning; charging and infrastructure roadmaps and financing; and other useful resources including white papers, guides, infographics, videos, and more.
2021
Merchants Raises Funding Capacity to $2 Billion
Merchants had a major expansion of its core member funding group, now including some of the top banks worldwide. This increased capacity to $2 billion, allowing the company to lease vehicles and equipment for clients as well as invest in continued growth. The new group of banks and investors is led by French international banking group BNP Paribas, who along with Merchants’ lead equity partner Bain Capital Credit, represents over $20 trillion in assets.
2021
Merchants Launches TotalConnect
With connected vehicles now commonplace in the market and fleets being composed of multiple OEMs and telematics devices, Merchants saw the need for an all-in-one solution. Enter TotalConnect. Merchants’ new platform seamlessly consolidates an entire fleet into a single dashboard, providing deep visibility into data from all your vehicles, no matter how they push their data. This powerful solution allows fleet managers to drive value to their organization with lower fleet costs, increased safety, and less time spent extrapolating data.