Leading the Charge in Electrification

Case Study

As technology continues to transform the transportation sector and protecting the environment becomes more important than ever, Merchants Fleet doesn’t just see the road ahead—it’s paving the way to a more sustainable future.

One of the nation’s fastest growing fleet management businesses, Merchants and its sister companies were acquired by Bain Capital Credit and Special Situations in 2022. Merchants had previously invested in critical electrification capabilities to build climate resilience, but, fueled by our investment, it can now fully accelerate those efforts.

Many of Merchants’ ESG initiatives include services that support clients’ transitions to electric vehicles (EV)—and away from the internal combustion engines that make the transportation industry one of the heaviest emitters. Merchants delivers a dedicated team with expertise in EVs, infrastructure, and energy, and EV-specific consulting services, as well as a five-step AdoptEV program that helps organizations develop a blueprint for making the switch to electric. The company helps clients accelerate the transition to EVs quicker, making implementation of both fixed and portable charging solutions possible in commercial and residential settings.

Beyond these offerings, Merchants incentivizes its employees to purchase zero emissions vehicles and is a member of the Corporate Electric Vehicle Alliance (CEVA)—a coalition of companies focused on accelerating the transition to EVs. Further, in 2022 Merchants used solar renewable energy credits to match the electricity usage for every EV charger on its campus for the entire year.

These solutions amount to a $2.5 billion commitment from Merchants and have helped significantly eliminate emissions, including 21,000 pounds of CO2e prevented in just two months with one client. Driven by the ambitious objective to convert 50% of its mobility and fleet portfolios to EVs in 2025 and 2030, respectively, Merchants embodies Bain Capital’s commitment to our planet.

Olof Bergqvist
We actively evaluate companies that prioritize transitioning to a lower carbon economy. We’re proud to partner with Merchants, which is thinking holistically about its long-term strategy to drive business value.
Olof Bergqvist, Partner, Credit
Brendan P. Keegan
Thanks to Bain Capital and our partners, Merchants has been able to further accelerate and catalyze the EV revolution, fearlessly driving our commercial fleets forward.
Brendan P. Keegan, Chairman, Chief Executive Officer & President, Merchants Fleet