Union Leasing has acquired the fleet leasing business from Walser Automotive Group, a Minneapolis, Minn.-based large regional dealer, the fleet management company has announced.

Union Leasing, which is based in Schaumburg, Ill., acquired Walser Financial Services which includes a business unit operating as Walser Leasing because it "expands Union Leasing’s total service offering while delivering enhanced services, technology and expertise to Walser’s current customer base," according to a release from Union Leasing.

"Walser offers us the opportunity to expand our services footprint and industry expertise, which is integral to our short-term growth plans and leverages our personal touch approach to providing a superior customer experience," said Kent Boskovich, president of Union Leasing.

The sale did not include Walser Specialized Services, which provides fleet acquisition services to car rental companies and other commercial or leasing clients, including larger fleet management companies, according to Larry Soleta, director of commercial services for Walser Automotive Group.

Union Leasing has set a corporate goal to continue to diversify its vehicle portfolio with "steady, sustainable growth and to provide products, services and technology that serve today's customer in ways they value," according to the company.

The acquisition increases Union Leasing's portfolio of managed vehicles by 15%. Union Leasing is a subsidiary of Sasser Family Holdings Inc.