– Ryder System, Inc., a transportation and supply chain management solutions company, completed its acquisition of substantially all the assets of Pollock NationaLease, one of Canada’s largest privately owned commercial truck leasing and rental companies, as well as Pollock’s transportation-based logistics operations.
The acquisition is expected to add approximately $43 million in annualized revenue, of which approximately 55 percent is related to commercial truck leasing and rental business and 45 percent is related to the company’s transportation-based logistics business. Ryder anticipates earnings improvement in future years, resulting from synergies and operational improvements within the combined companies.
In the transaction, Ryder acquired Pollock’s fleet of approximately 2,000 vehicles, six service locations, and nearly 200 contractual customers served by the Ontario locations of Sarnia, Windsor, London, Baden, and Milton, as well as the Moncton, New Brunswick location. Ryder expects to consolidate four overlapping locations from among the combined operations in order to upgrade and increase its capacity to serve customers. The combined network will operate under the Ryder name.