Marubeni and Lithia & Driveway completed the acquisition of a minority stake in Wheels.

Marubeni, a Japanese integrated trading and investment business conglomerate, and Lithia & Driveway, a global automotive retailer, completed the acquisition of a minority stake in Wheels, a fleet management and mobility solutions provider. Financial terms were not disclosed. “We are excited to receive the backing of two highly sophisticated investors. Our clients are always at the heart of everything we do, and that will continue as we innovate and grow with Marubeni and Lithia. While Wheels operates as a fleet management company today, the legacy business began in 1939 from an auto dealership, so we have a deep appreciation for the world-class business that Lithia has built and its dedication to customer satisfaction. We look forward to the strategic partnership and collaborative thinking with both Marubeni and Lithia,” Shlomo Crandus, Wheels CEO.