Holman, a global automotive services organisation, has acquired commercial trucking fleet insurance provider, Park Wood Managers.
Holman’s insurance services division includes alternative risk and captive solutions and is led by former USA Risk principal Rob Bartholomew.
The family-owned business also becomes the programme manager of the Park Wood Risk Retention Group (RRG), which will be rebranded as Holman Transportation Risk Retention Group.
“This acquisition is poised to be an integral element of our long-term strategy for sustained growth and allows us to leverage Holman’s extraordinary financial stability to provide comprehensive risk mitigation solutions for fleet operators in this segment of the industry,” said Bartholomew.
“As a result of this acquisition, we’re now positioned to combine our extensive insurance and risk mitigation capabilities with Holman’s unsurpassed fleet management expertise to offer fleet operators a seamless, all-inclusive solution for protecting their vehicles, their people, and their business while also controlling their total cost of ownership.”
Holman said the acquisition enables it to provide comprehensive automotive insurance coverage and commercial risk mitigation services for the entire range of commercial fleet vehicles, regardless of fleet size, industry, or asset type.
Headquartered in New Jersey, Holman is one of the largest family-owned automotive service organizations in North America with more than 6,500 employees across North America, the UK, and Germany.