JAMAICA Equipment Company (Jameco), a fleet leasing and management firm that services major corporate clients, has recorded steady growth over the past seven years as businesses increasingly outsource vehicle operations to focus on their core activities, its general manager said.

The company, which manages fleets for organisations including Jamaica Public Service (JPS) and telecommunications provider Digicel, has expanded its operations across the island while maintaining consistent annual growth of about 5-6 per cent, according to General Manager Brian Pengelley.

“We’ve grown steadily, probably at about an average of five or six per cent a year,” Pengelley said in an interview with the Jamaica Observer. “It’s a mature business.”

Jameco specialises in fleet leasing and management, taking responsibility for the financing, maintenance and operational management of company vehicles so clients can focus on their primary business operations.

“You bring us your fleet — whether it’s large trucks, tractor trailers or vans — and we take over the responsibility of capital funding and the maintenance,” Pengelley told BusinessWeek. “You focus on your core business and leave the rest to us.”

The company’s services are aimed at businesses seeking to reduce the time and cost associated with running vehicle fleets in Jamaica, where maintenance and operational demands can place pressure on companies.

“Vehicles in Jamaica demand time and they’re expensive to run,” Pengelley said. “You need a partner managing your fleet that can maximise savings and ensure the vehicles are available to work every day.”

Jameco traces its roots to Ameco, a US-owned company that previously operated the business before divesting its international holdings. The Jamaican operation was later acquired through a partnership involving the Stewart family which owns and operates Stewart’s Motors, a dealer selling various motor brands including Mercedes Benz, Jaguar, Mitsubishi, Suzuki and Great Wall Motors.

Pengelley said the company has expanded its network to five service centres across the island, allowing it to provide maintenance and fleet support wherever clients operate.

“We operate five service centres around the island, so we’re available to our customers wherever they may have a problem,” he said.

Jameco currently works with roughly 60 customers, including about 25 major accounts, with smaller clients representing a potential area for expansion.

“I’m going to say we have about 25 solid accounts, and then we have a lot of others that we just work with — smaller accounts but with potential to grow,” Pengelley said.

The company also differentiates itself by offering a full-service model that covers the entire life cycle of fleet operations, from vehicle acquisition to maintenance — a service Pengelley said is uncommon in Jamaica’s leasing sector.

“Banks or leasing companies can lease your vehicle, but they can’t actually maintain it,” he said. “They’re not set up to maintain it like we are around Jamaica.”

Jameco operates around the clock to keep client fleets running.

“We operate on a 24/7 basis. We never stop. We’re always open,” Pengelley said.

Despite steady growth, the company remains cautious about expanding too quickly, prioritising service quality for existing customers.

“When we get an opportunity, we have to make a choice,” Pengelley said. “Can we take on a new customer without affecting the customer base we currently have? You can’t forsake growth by not paying attention to your base.”