Business
EzFill Closes on the Purchase of Yoshi Mobility’s Fuel Division
--Company Adds 26 New Trucks to Growing Fleet-- --Begins Service in Four New States and Five New Markets-- MIAMI, Dec. 10, 2024 (GLOBE NEWSWIRE) -- EzFill
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[{"type":"text","content":"--Company Adds 26 New Trucks to Growing Fleet-- --Begins Service in Four New States and Five New Markets-- MIAMI, Dec. 10, 2024 (GLOBE NEWSWIRE) -- EzFill Holdings Inc. (NASDAQ: EZFL), a leading mobile fueling company, has closed on the purchase of the mobile fueling division of Yoshi, Inc., expanding EzFill’s existing business into five new markets within four states. The transaction closed on Monday, December 2, 2024, and as a result EzFill has officially commenced operations in four new States: California, Michigan, Tennessee and Texas. EzFill has started the process of integrating Yoshi’s assets, operations and customers into its growing infrastructure. The goals of the purchase include: Expanding EzFill’s Fleet: The acquisition adds 26 trucks, increasing the fleet to 66. This expansion will bolster operational capacity, allowing the Company to handle a larger volume of commercial accounts and ensure timely service delivery in new and existing markets.Experiencing Market Growth and National Expansion: With the purchase, EzFill now has a presence in 5 states and 10 strategic locations. The new markets include Los Angeles, San Francisco, Detroit, Houston, and Nashville. This growth provides greater geographical coverage and positions the business to cater to a broader client base while diversifying market risks.Adding Over 50 New Commercial Fleet Accounts: The addition of over 50 new commercial fleet accounts underscores the Company’s growing reputation and capacity to serve large-scale clients, which is expected to significantly increase revenue streams and demonstrate EzFill’s ability to meet complex operational demands. “This notable expansion across the country and new markets marks a significant step toward achieving national operations and presence,” said EzFill CEO Yehuda Levy. “We will continue to grow consistent service standards and brand visibility while leveraging economies of scale to improve efficiency and competitiveness.” EzFill plans to immediately offer diesel in its new markets. With 76% of commercial vehicles using diesel according to the Engine Technology Forum, offering diesel in new markets will likely immediately increase revenue potential in those areas. Additionally, EzFill plans to use this expansion to build on its existing relationships by servicing current national accounts in Florida and extendin...