Fleetmasters Sales & Service, LLC, a Windsor Locks, CT provider of repair and preventative maintenance services for fire apparatus, municipal emergency vehicles, and commercial trucks, today announced that Michael Baron has acquired substantially all of the assets of the company from its owner and co-founder, Tom Stempfer. Terms of the transaction were not disclosed.
Founded in 1991 by brothers Tom and Jim Stempfer, Fleetmasters sought to provide high quality commercial truck repair and related services with a superior dedication to client service. Their effort was successful, and the company grew to be the region’s preeminent provider of repair and maintenance services for fire apparatus, municipal emergency vehicles, and commercial trucks, as well as New England’s exclusive authorized dealer of Seagrave brand fire apparatus. Fleetmasters has built a powerful reputation and is well regarded and respected throughout Connecticut and Massachusetts.
“Fleetmasters has been reliably serving Connecticut and southern Massachusetts municipalities for more than 25 years,” said Tom Stempfer, owner. “The company prides itself on its state-of-the-art facilities, dedication to skillful and efficient service, and superior commitment to client satisfaction. I am very pleased to be selling to Michael, who I know will continue Fleetmasters’ continuous improvement.”
Mr. Stempfer added: “I greatly appreciated working with Irina at Comer Business Brokers. Ours was a professional and sophisticated transaction with multiple component parts. Irina had an excellent command of all the issues, and was excellent at helping to move the deal along as efficiently as possible. Her deep experience and firm command of both technical and pragmatic business issues combine to make her a talented and value-added broker.”
“Fleetmasters has an enviable reputation for quality of service in the region, and Tom has done a tremendous job over the years of continuing to iterate, improve, and expand his business. Its reputation is well deserved, and I believe it continues to have significant opportunity for growth and expansion,” said Michael Baron, a highly experienced business executive with a strong personal interest in automotives. “I am excited to dive in and continue to grow and improve this impressive business. I look forward to engaging with clients and continuing and expanding the strong relationships the company has built.”
Mr. Baron added: “I found Irina to be a real asset in this transaction. It was nice to work with someone who could quickly home in and focus on the key issues of business importance and help us to push everything across the finish line. It is always enjoyable to work with skilled professionals.”
“Tom has spent more than a quarter of a century building an extremely well regarded business that has become the dominant player in its region, and I am confident that Michael will bring his strong exectuvie experience to bear and continue to make Fleetmasters even greater. I love being able to connect people with complementary passions and skill sets,” said Irina Comer, founder of Comer Business Brokers, which brokered the transaction for Mr. Stempfer. She added: “We constantly strive to help owners Sell WellTM, and it is gratifying to be able to work with talented and capable businessmen like Tom and Michael to ensure the continued excellence of a very fine business.”
About Comer Business Brokers, LLC
Comer Business Brokers, LLC, is a full-service business brokerage firm located in Fairfield County and services the entire state of Connecticut and Westchester County, NY. Owner and founder Irina Comer has more than a decade of experience of mergers and acquisitions of all types and sizes. Prior to starting her career in business brokerage industry, she spent 10 years at PricewaterhouseCoopers advising local, national, and international companies on transactional issues, including valuation, diligence, structuring and positioning. After obtaining her MBA from New York University’s Stern School of Business, Irina worked with mergers and acquisitions division of Bank of America Merrill Lynch. For a full list of services and listings please refer to www.comerbb.com.