MIAMI—Global transportation and logistics services provider Ryder said this weekit has reached an agreement to acquire the assets of Gordon Truck Leasing, a Philadelphia-based full-service truck leasing, commercial truck rental and fleet services company.
Financial terms of the acquisition are not available, but a Ryder statement indicated that the deal is expected to be completed later this month and is subject to customary closing conditions.
Under the terms of the acquisition, Ryder intends to acquire Gordon’s fleet of approximately 430 full service lease units, 45 rental units, and 35 held-for-sale units along with roughly 130 of Gordon’s contract customers currently served by five Philadelphia area locations. Gordon was established in 1978.
“Gordon Truck Leasing is a high quality and well-managed transportation service provider with a strong reputation in the metropolitan Philadelphia area,” said Ryder Chairman and Chief Executive Officer Greg Swienton in a statement. “We are pleased to be able to add new customers to our existing locations, as well as provide them with the additional services and solutions for which Ryder is recognized in the industry.”
This deal continues Ryder’s steady line of recent acquisitions. In May, it acquired Gator Leasing Inc., a Miami-based full-service truck leasing, commercial truck rental and fleet services provider. And in January, it acquired Lily Transportation Corp., a Needham, Mass.-based regional transportation service provider, and Pollock NationaLease, an Ontario-based full service trucking company, last October.
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