READING, Pa. — 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, according to a news release.
Founded more than 150 years ago, Star Truck Rentals operates more than 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, the news release noted.
“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 of 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.”
Tom Bylenga, president Star Truck Rentals, echoed Vallely’s enthusiasm about the acquisition.
“We are excited to join Penske,” Bylenga said. “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.”
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