Progress Partners, a premier technology-focused investment bank, is pleased to announce that Agile Fleet has been acquired by Banyan Software.
BOSTON, MA / ACCESS Newswire / June 5, 2025 / Progress Partners, a premier technology-focused investment bank, is pleased to announce that Agile Fleet has been acquired by Banyan Software. Progress Partners served as the exclusive advisor to Agile Fleet in its acquisition by Banyan Software.
The transaction marks a pivotal milestone for the founder-led fleet management solutions provider after more than 20 years of self-funded growth and innovation.
Progress Partners orchestrated a comprehensive sale process including initiating, structuring, and negotiating the transaction on their behalf. The process attracted multiple qualified buyers, ultimately identifying Banyan Software as the ideal long-term growth partner for Agile Fleet's next chapter of expansion.
"It was our privilege to work with Ed and the Agile Fleet team throughout this significant transaction," said Parag Sheth, Managing Director at Progress Partners. "Their industry-leading solutions and deep expertise in fleet management position them for continued strong growth. Banyan's commitment to long-term ownership made them the perfect partner to help accelerate Agile Fleet's vision while preserving its legacy of innovation."
The transaction showcases Progress Partners' specialized expertise in vertical SaaS and transportation technology ecosystems. The firm's hands-on advisory approach and sector knowledge were instrumental in articulating Agile Fleet's unique value proposition to the market - a proprietary platform that automates millions of fleet transactions annually while delivering measurable utilization improvements for enterprise clients.
"As a founder who built this business from scratch, this milestone starts an exciting new chapter for Agile Fleet," said Ed Smith, Founder of Agile Fleet. "Parag and the Progress Partners team were instrumental in the success of this transaction. They understood our business thoroughly, worked tirelessly alongside us, ran a disciplined process that created several compelling options, and ultimately ensured the optimal outcome for our company."
The acquisition aligns with Banyan Software's strategic focus on acquiring and growing enterprise software businesses with dominant positions in niche verticals. Founded in 2016, Banyan follows a buy-and-hold-for-life strategy that provides stable, long-term support for the businesses it acquires. With offices spanning North America, Europe, and Asia-Pacific, Banyan has emerged as one of the fastest-growing private companies in the enterprise software sector.
This successful transaction extends Progress Partners' 20+ year track record of delivering premium outcomes for entrepreneurial technology companies. The firm's relationship-driven approach and technical expertise were crucial in navigating complex transaction dynamics and securing favorable terms that aligned with the founder's objectives.
About Progress Partners
Progress Partners is a full-service investment bank providing M&A, capital raise and strategic growth expertise for emerging technology and media companies since 2002. As part of the next category of investment banking, Progress Partners employs experts who work with entrepreneurial leaders to realize superior value. Securities offered by FNEX Capital, LLC, member of FINRA and SIPC. For more information about Progress Partners' exemplary services in investment banking, advisory and venture capital.
For additional information on Progress Partners, visit progresspartners.com
About Agile Fleet
Agile Fleet is a pioneer in providing a broad range of powerful fleet management automation tools to the fleet industry. Their Fleet Management Information System (FMIS), along with the industry's most versatile vehicle sharing capabilities, automates millions of fleet transactions annually to maximize utilization of fleet vehicles.
For additional information on Agile Fleet, visit agilefleet.com
About Banyan Software
Founded in 2016, Banyan Software follows a buy-and-hold-for-life strategy. Banyan's mission is to acquire, build, and grow great enterprise software businesses all over the world with dominant positions in niche verticals. The company is one of North America's fastest-growing private businesses with offices across the US, Canada, the UK, EU and APAC.
For additional information on Banyan Software, visit https://banyansoftware.com
Contact Information
Marketing Progress Partners
marketing@progresspartners.com
SOURCE: Progress Partners
View the original press release on ACCESS Newswire
