When Dent Wizard transitioned from being a small privately held business to a part of a Private Equity (PE) firm in 2010, its new management team needed to quickly implement financial and operational improvements in every aspect of the business in order to meet financial targets. After meeting with Mike Albert, they determined that fleet management was an area with significant improvement opportunity and that a fleet management partner would allow Dent Wizard to focus on its core business.

Goals

• Minimize Overall Cost
• Maximize EBITDA
• Optimize Cash Flow
• Ensure driver safety, security and comfort

MAFS took the reins of the program with a keen understanding of Dent Wizard’s overarching business goals and objectives: gain control of their fleet expenses to maximize EBITDA and optimize cash flow while ensuring the safety, security and comfort of Dent Wizard employees. Understanding these objectives, MAFS worked closely with Dent Wizard’s fleet administrator to establish a set of key performance indicators (KPIs) that would be tracked. Through the quarterly business reviews, the Client Development Manager (CDM) shared KPI results and supplemented them with actionable insight that was leveraged to drive further reductions in total cost of ownership of the fleet.

TOGETHER, MIKE ALBERT HELPED DENT WIZARD ACHIEVE THE FOLLOWING RESULTS:

• Increased available capital by $4.3 Million by rolling high-cost vehicle up-fit equipment into the leases for cash flow optimization.
• Recapitalized all Closed-End vehicle leases to Open-End capital leases taken to a remaining book value – resulting in $147,600 annual savings, reduction of debt, and a monthly program cash flow improvement of 60%.
• Delivered $115,000+ annual savings by indexing to variable rate vs. fixed rate, capitalizing on the current near historical all-time low interest rates.
• Significantly improved Dent Wizard’s debt to EBITDA ratio by executing on our recommendation to only “pay for what you use”, taking vehicles to a remaining book value, via a tailored matched depreciation strategy
• Reduced vehicle acquisition costs by 5% by leveraging Mike Albert’s vehicle inventory strategy – allowing Dent Wizard immediate access to 50 Light Duty pickup trucks at factory-order pricing, on the ground ready to go at a moment’s notice, vs. the alternative of waiting 12-14 weeks order to delivery or paying full retail pricing.
• Rolling all upfront sales taxes into the monthly lease rates and conscientiously garaging vehicles in lower-cost tax counties has increased cash flow and optimized tax strategies.
• Mike Albert’s professional truck engineering has proven invaluable to Dent Wizard – delivering improved productivity, enhanced driver satisfaction, and reduced risk.

Dent Wizard’s customer support team, bi-weekly team calls, proactive consultation, and predictive analytics have reduced fleet administration time, contained SG&A costs, and helped Dent Wizard focus and grow their core business. Client Development Manager insights, especially TCO benchmarking (Total Cost of Operation) and vehicle cycle strategy, are recognized as valuable to Dent Wizard.

"Mike Albert Fleet Solutions laid out a plan that included major improvements to our service truck design and provided processes, data and insights that would allow us to gain complete control over one of our top 3 expense categories while increasing available capital by over $4MM." - Dent Wizard International