Athene, an industry-leading financial services company, is now the new primary stakeholder in a merger between Wheels, Inc. and Donlen, LLC.
The two companies represent a highly complementary merger and will allow a single entity to offer enhanced mobility solutions and products across some of the most well-known small-, medium-, and large-size fleets. The new company counts approximately $5 billion in assets, a larger product range, and a highly diversified customer base. They are expected to be rated investment grade.
The Chief Financial Officer of Wheels, Shlomo Crandus, will lead the new company as CEO, and both the management team and Board of Directors will contain representatives from both Wheels and Donlen. Donlen CEO Tom Callahan will now hold the title of senior executive and sits as a board member of the combined company.
The Athene-led investment is focused on long-term stability and premier customer service. The new company plans to take a measured approach to integration and will retain both companies’ experienced personnel and continuity of client-facing contacts to ensure a smooth transition for all stakeholders. The sheer scope of Athene’s funding and financing capabilities will allow the company to offer clients a new and enhanced set of solutions addressing many fleet and ancillary needs.