Ryder to Acquire Edart Leasing in Northeast U.S.

Ryder System, Inc. has reached an agreement to acquire substantially all the assets of the full service truck leasing, commercial truck rental, and contract maintenance businesses of Edart Leasing Company LLC, a Northeast U.S. regional transportation services company based in Hartford, Conn.

"Edart Leasing is a well-known and respected, family-owned transportation service provider that has been a strong competitor in the Northeast," said Ryder Chairman and Chief Executive Officer Greg Swienton. "By building on the best practices and unique qualities of each company, we can strengthen our network and product offering in the Northeast to bring more business resources and value to customers of both companies."

Per the terms of the transaction, Ryder will acquire Edart's fleet of approximately 1,450 full service lease and 150 rental units, serving more than 340 contract customers from Edart's nine Northeast locations in Connecticut, Massachusetts, and New Jersey. Also per the terms of the transaction, Ryder will acquire approximately 600 vehicles that will be remarketed pursuant to specific terms of the agreement.

"Ryder has been a reputable market leader for 75 years and we are confident in their ability to provide our customers with new resources, increased product offerings, and a large network of service locations to help them grow and prosper in the competitive marketplace," said Mark Siegal, president and CEO of Edart Leasing Company.

"We are pleased to expand our network in this important Northeast market and have the opportunity to provide customers with new locations and services that will contribute to their future growth and success," said Ryder President of Fleet Management Solutions Tony Tegnelia. "Maintaining high quality customer service is and will remain our highest priority throughout the transition and beyond."

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Trump and Regulations: An Alt-Fuel View

With 2025 emissions targets back in review, manufacturers, alt-fuel, and alt-power suppliers weigh in on the potential impacts of Trump’s initiatives.

Why GM’s Telematics Announcement is a Really Big Deal

Enabling a telematics connection at the factory — and not through an aftermarket hardware installation — is a game changer for fleets.

Four Thoughts From the 2016 Conference Calls

Sifting through the notes of Avis Budget Group’s and Hertz Global Holdings’ recent fourth quarter conference calls give us some trend lines to watch out for in 2017. (Of course, this gives us an incomplete snapshot, as Enterprise Holdings is privately held.)

Job Finder: Access Top Talent. Fill Key Positions.

>