Penske Truck Leasing to Acquire Bright Truck Leasing & Bright Distribution
READING, PA - Penske Truck Leasing Co. has entered into an agreement to acquire Bright Truck Leasing & Bright Distribution. Financial terms were not disclosed.
READING, PA - Penske Truck Leasing Co., L.P., announced it has entered into an agreement with the Bright family to acquire Bright Truck Leasing & Bright Distribution, providers of full-service truck leasing, truck rental, maintenance, and logistics operations. Financial terms were not disclosed.
"Bright and Penske customers will benefit from synergies in our products and services available through our combined network of facilities across North America," said Brian Hard, president and CEO, Penske Truck Leasing. "This move is consistent with our efforts to grow our business organically and via strategic acquisitions."
Headquartered near Dallas, Bright Truck Leasing & Bright Distribution serve approximately 2,400 customers at 19 locations throughout Texas. Bright's products and services align well with Penske's services and include full-service truck leasing, truck rental, contract maintenance, and dedicated contract carriage services.
The acquisition will add approximately 3,400 tractors, trucks, and trailers to Penske's fleet. The transaction is subject to customary closing conditions and the parties anticipate closing by late February.
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