Bestpass will now offer a comprehensive suite of services that cover all aspects of tolling, compliance and safety for commercial fleets of all sizes.
Tom Fogarty, CEO of Bestpass, said in an interview with The Trucker that he and his company are thrilled about the acquisition.
“We know fleet and driver safety is a top priority with our customers,” he said. “It’s why we sought collaboration with a premier provider to incorporate safety and compliance solutions into our comprehensive range of services. Fleetworthy emerged as the ideal partner, and we eagerly anticipate the valuable contributions this integrated offering will make for our customers.”
Bestpass, founded in 2001, covers 100% of major toll roads across the U.S., supports more than 30,000 customers and processes more than $1.5 billion in toll transactions annually. Bestpass offers a range of toll coverage options for owner-operators, regional fleets, and national fleets, as well as customized solutions for specific needs.
Fogarty said the combination of the two companies is a strategic move that will offer a more comprehensive and integrated solution to customers while also expanding Bestpass’ market opportunity.
“Fleetworthy and Bestpass share the vision of simplifying and streamlining the complex and ever-changing challenges of tolling, compliance and safety for commercial fleets,” he added. “Together, we will be able to deliver more value and innovation to our customers and the industry.”
Fleetworthy Solutions, founded in 1983, provides users a cloud-based solution known as CPSuite, which the company touts as “the most powerful compliance software in the industry, combining seamless technology, reliable data and knowledgeable people. It also offers related compliance focused services including vehicle and driver safety compliance, audit support and extended fleet services, all aimed at helping clients exceed state and federal standards.”
Michael Precia, president and CEO of Fleetworthy, told The Trucker he is excited to join forces with Bestpass, calling them “a leader and innovator in the toll management space.”
“We have been impressed by Bestpass’ growth and success, and we share their commitment to customer satisfaction and excellence,” he said. “By combining our complementary strengths and capabilities, we will be able to offer a unique and powerful solution that will help our customers go beyond compliant and achieve optimal outcomes for their fleets. We look forward to working with the Bestpass team to create a industry leader and more powerful and comprehensive solution set.”
The terms of the acquisition were not disclosed, and the transaction has already closed.
Both companies will continue to operate under their respective brands. Raymond James and DC Advisory acted as financial advisors to Fleetworthy.
Fogarty said he has long been impressed with Fleetworthy’s ability to meet the needs of carriers both large and small.
“When I would go in field to meet with our largest customers, I would ask them what can Bestpass do to support your business more?” he said. “I would leave it open. Oftentimes, they would talk about compliance, regulations, licensing and other challenges that fleets share. And that was not necessarily something we offer. We look forward to working on new products that they can’t get anywhere else. We are customer focused, meeting their needs in a unique way.”
Precia said that one thing he has consistently heard about Bestpass is their ability to satisfy their clients’ needs.
“They have always been a favorite partner to work with,” he said. “They took the whole concept of customer service and compliance and keeping roads safe as serious as we do. Their technologically, it fits like a glove as well. They have a big beachhead on the for-hire side, and we have a big beachhead on the private side, so when you look at all pieces of this it is a really good marriage.”
Born in Pine Bluff, Arkansas, and raised in East Texas, John Worthen returned to his home state to attend college in 1998 and decided to make his life in The Natural State. Worthen is a 20-year veteran of the journalism industry and has covered just about every topic there is. He has a passion for writing and telling stories. He has worked as a beat reporter and bureau chief for a statewide newspaper and as managing editor of a regional newspaper in Arkansas. Additionally, Worthen has been a prolific freelance journalist for two decades, and has been published in several travel magazines and on travel websites.