READING, Pa. — Penske Truck Leasing has announced a major expansion of its fleet.
Company officials said that the acquisitions of Star Truck Rentals Inc., a transportation services company offering full-service leasing, commercial truck rental, contract maintenance, used truck sales and additional services, and Kris-Way Truck Leasing Inc., a transportation services company offering full-service leasing, commercial truck rental, contract maintenance and dedicated contract carriage, are now complete.
According to a news release, the acquisition of Star Truck Rentals increases Penske’s existing fleet by approximately 1,900 vehicles and adds 18 locations throughout Michigan and Indiana, while the acquisition of Kris-Way Truck Leasing increases Penske’s existing fleet by approximately 900 vehicles and adds seven locations throughout Maine and New Hampshire.
Penske is now integrating the facilities, staff, vehicles and processes of both companies into its existing network, the news release stated.
“We are excited to join Penske,” said Tom Bylenga, president of Star Truck Rentals. “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.”
Art Vallely, president of Penske Truck Leasing, said that Star has “has impressive scale in the region, an excellent reputation in the industry and a commitment to exceptional customer service. 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.”
On the acquisition of Kris-Way, Vallely said: “Kris-Way has earned a stellar reputation in the marketplace. Penske and Kris-Way customers will benefit from the combined services both companies have to offer across our growing network. We look forward to working closely with Kris-Way customers and associates to integrate the business into the Penske brand.”
Kris-Way President Tom Keffer said that, as part of Penske, “Kris-Way is well-positioned to support our customers’ needs into the future. By expanding our network, our associates will have new opportunities for growth and development.”
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