Penske Truck Leasing today announced it has recently completed the acquisitions of Star Truck Rentals, Inc., a transportation services company offering full-service leasing, commercial truck rental, contract maintenance, used truck sales and additional services and Kris-Way Truck Leasing, Inc., a transportation services company offering full-service leasing, commercial truck rental, contract maintenance and dedicated contract carriage.
The acquisition of Star Truck Rentals, Inc. increases Penske’s existing fleet by approximately 1,900 vehicles and adds 18 locations throughout Michigan and Indiana. The acquisition of Kris-Way Truck Leasing, Inc. increases Penske’s existing fleet by approximately 900 vehicles and adds seven locations throughout Maine and New Hampshire. Penske is now integrating the facilities, staff, vehicles and processes of both companies into its existing network
READING, Pa., April 26, 2023 – Penske Truck Leasing today announced it has reached an agreement to acquire Star Truck Rentals, Inc., a transportation services company offering full-service leasing, commercial truck rental, contract maintenance, used truck sales and additional services. Financial terms were not disclosed.
Founded over 150 years ago, Star Truck Rentals operates over 1,900 vehicles from 18 locations throughout Michigan and Indiana. The company serves a diverse customer base across the food and beverage, manufacturing and consumer goods and services industries.
“Star Truck Rentals has impressive scale in the region, an excellent reputation in the industry and a commitment to exceptional customer service,” said Art Vallely, president, Penske Truck Leasing. “We look forward to integrating Star into the Penske brand and leveraging the best both companies have to offer to serve new and existing customers in the region.”
“We are excited to join Penske,” said Tom Bylenga, president, Star Truck Rentals. “Penske and Star share a similar culture and approach towards supporting customers and developing associates. Joining with Penske will offer new opportunities for growth across an expanded network.”
This transaction is subject to customary closing conditions, including certain regulatory approvals. The parties involved anticipate closing the transaction in the second quarter of 2023.
Penske Truck Leasing is a Penske Transportation Solutions company headquartered in Reading, Pennsylvania. A leading provider of innovative transportation solutions, Penske operates and maintains more than 418,000 vehicles and serves its customers from more than 930 maintenance facilities and more than 2,500 rental locations across North America. Solutions from Penske include full-service truck leasing, fleet maintenance, truck rentals, used trucks, and a comprehensive array of technologies to keep the world moving forward. Visit PenskeTruckLeasing.com to learn more.
Penske Truck Leasing reached an agreement to acquire Star Truck Rentals, Inc., a transportation services company offering full-service leasing, commercial truck rental, contract maintenance, used truck sales and additional services. Financial terms were not disclosed.
Founded over 150 years ago, Star Truck Rentals operates over 1,900 vehicles from 18 locations throughout Michigan and Indiana. The company serves a diverse customer base across the food and beverage, manufacturing and consumer goods and services industries.
“Star Truck Rentals has impressive scale in the region, an excellent reputation in the industry and a commitment to exceptional customer service,” said Art Vallely, president, Penske Truck Leasing. “We look forward to integrating Star into the Penske brand and leveraging the best both companies have to offer to serve new and existing customers in the region.”
“We are excited to join Penske,” said Tom Bylenga, president, Star Truck Rentals. “Penske and Star share a similar culture and approach towards supporting customers and developing associates. Joining with Penske will offer new opportunities for growth across an expanded network.”
This transaction is subject to customary closing conditions, including certain regulatory approvals. The parties involved anticipate closing the transaction in the second quarter of 2023.
By "Move Ahead" Staff
Penske Truck Leasing has reached an agreement to acquire Star Truck Rentals, Inc., a transportation services company offering full-service leasing, commercial truck rental, contract maintenance, used truck sales and additional services. Financial terms were not disclosed.
Founded over 150 years ago, Star Truck Rentals operates over 1,900 vehicles from 18 locations throughout Michigan and Indiana. The company serves a diverse customer base across the food and beverage, manufacturing and consumer goods and services industries.
“Star Truck Rentals has impressive scale in the region, an excellent reputation in the industry and a commitment to exceptional customer service,” said Art Vallely, president, Penske Truck Leasing. “We look forward to integrating Star into the Penske brand and leveraging the best both companies have to offer to serve new and existing customers in the region.”
“We are excited to join Penske,” said Tom Bylenga, president, Star Truck Rentals. “Penske and Star share a similar culture and approach towards supporting customers and developing associates. Joining with Penske will offer new opportunities for growth across an expanded network.”
This transaction is subject to customary closing conditions, including certain regulatory approvals. The parties involved anticipate closing the transaction in the second quarter of 2023.
By "Move Ahead" Staff
Penske Truck Leasing announced it has reached an agreement to acquire Kris-Way Truck Leasing, Inc. Financial terms were not disclosed.
Founded in 1978, Kris-Way is a transportation services company offering full-service leasing, commercial truck rental, contract maintenance and dedicated contract carriage. Penske will absorb Kris-Way’s approximately 150 associates and over 900 vehicles from seven locations throughout Maine and New Hampshire.
“Kris-Way has earned a stellar reputation in the marketplace. Penske and Kris-Way customers will benefit from the combined services both companies have to offer across our growing network,” said Art Vallely, president, Penske Truck Leasing. “We look forward to working closely with Kris-Way customers and associates to integrate the business into the Penske brand.”
“We are excited to join Penske,” said Tom Keefer, president, Kris-Way. “We believe as part of Penske, Kris-Way is well-positioned to support our customers’ needs into the future. By expanding our network, our associates will have new opportunities for growth and development.”
This transaction is subject to customary closing conditions, including certain regulatory approvals. The parties involved anticipate closing in the second quarter of 2023.
By “Move Ahead” Staff
Penske Truck Leasing today announced it has completed the acquisition of the assets of Rochester, New York-based DeCarolis Truck Rental, Inc., a transportation company providing full-service truck leasing, rental, maintenance and repair services to a variety of customers primarily in the food processing and distribution, consumer distribution, and freight-hauling industries.
The acquisition adds approximately 2,350 tractors, trucks and trailers to Penske’s existing fleet, and adds several facilities throughout upstate New York. Penske is now integrating DeCarolis’ facilities, staff, vehicles, and processes into its existing network.
By Kim Harmsen
Penske Logistics has successfully completed its previously announced acquisition of Black Horse Carriers, Inc., a privately held logistics company based in Chicago.
"We are pleased to have completed the acquisition and we now look forward to our work together as one team in the coming year," said Marc Althen, president of Penske Logistics. "We remain focused on delivering exceptional customer service as we integrate this business into our existing dedicated contract carriage operations."
Penske Logistics provides dedicated contract carriage services through its expansive network in North America with safe, professional drivers, and a modern truck fleet integrated with advanced safety systems, transportation management and real-time freight tracking systems. Penske Logistics handles deliveries for a variety of leading companies in industries including automotive, CPG, food, grocery, beverage, manufacturing, quick-service restaurants, healthcare, and convenience store chains among them.
Penske Logistics has successfully completed its previously announced acquisition of Black Horse Carriers, Inc., a privately held logistics company based in Chicago.
"We are pleased to have completed the acquisition and we now look forward to our work together as one team in the coming year," said Marc Althen, president of Penske Logistics. "We remain focused on delivering exceptional customer service as we integrate this business into our existing dedicated contract carriage operations."
Penske Logistics provides dedicated contract carriage services through its expansive network in North America with safe, professional drivers, and a modern truck fleet integrated with advanced safety systems, transportation management and real-time freight tracking systems. Penske Logistics handles deliveries for a variety of leading companies in industries including automotive, CPG, food, grocery, beverage, manufacturing, quick-service restaurants, healthcare, and convenience store chains among them.
Penske Logistics today announced it has reached an agreement to acquire Chicago-based trucking company Black Horse Carriers, Inc. Financial terms were not disclosed.
"The Penske organization has had a longstanding and valued relationship with Black Horse Carriers for many years," said Marc Althen, president, Penske Logistics. "This acquisition will be complementary to our existing portfolio of customers and industries within our dedicated contract carriage business. We look forward to working with the Black Horse Carriers team on this acquisition and the integration of our operations."
This transaction is subject to customary closing conditions, including certain regulatory approvals. The parties involved anticipate closing the transaction on December 31, 2020.
"We're very excited about joining the Penske organization," said Ken Landego, CEO of Black Horse Carriers, Inc. "The synergies created by the combination of both companies will benefit our customers from a service-level standpoint and elevate our technology capabilities. We look forward to this new journey together."
Founded in 1925, Black Horse Carriers is a privately held trucking company that provides services to the food and grocery, retail, bakery, dairy, CPG, manufacturing, and automotive industries. The company currently employs more than 4,000 people, operates a trucking fleet of more than 2,000 vehicles, and services customers from more than 90 terminals across the United States.
Today,Penske Logistics announced it has successfully completed its planned acquisition of Transfreight North America, a provider of third-party logistics and supply chain solutions, from Mitsui & Co., Ltd. Financial terms were not disclosed.
“We’re pleased to have successfully completed the acquisition,” said Penske Logistics President Marc Althen. “We look forward to working with the Transfreight team to implement a flawless integration for customers and associates. Transfreight is a customer-focused organization with excellent customer relationships. We are excited about building an even stronger business upon this foundation.”
The acquisition adds new customers and associates as well as warehousing, cross-docking, and trucking capabilities to the Penske Logistics business portfolio along with 27 locations across the United States, Canada and Mexico.
By "Move Ahead" Staff