Element Fleet Management Withdraws Bid for FleetPartners Group

Element Fleet Management Corp. announced on September 13, 2026, that it has withdrawn from the process to acquire FleetPartners Group Limited. The decision followed a Phase 1 review in which the company determined that the increasingly competitive nature of the sale process did not provide a certain pathway to a transaction with a compelling risk-adjusted return.

CEO Laura Dottori-Attanasio stated that while the company believes there is strategic merit in combining the two businesses, the current returns do not justify continuing. Element now intends to prioritize organic growth and the return of capital to shareholders.

The company confirmed that the withdrawal does not affect its existing operations, financial guidance, or client relationships. Element maintains its commitment to the Australia and New Zealand markets through its subsidiary, Custom Fleet.