READING, Pa. — Penske Truck Leasing Friday announced it has entered into an agreement with the Bright family to acquire Bright Truck Leasing and 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,” Brian Hard, president and CEO of Penske Truck Leasing, said. “We have a strong commitment to customer service and we will continue providing the high-quality service Bright’s customers have come to expect. This move is consistent with our efforts to grow our business organically and via strategic acquisitions.”
Headquartered near Dallas, Texas, Bright Truck Leasing and 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, Hard said.
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.
Penske Truck Leasing Co., L.P., headquartered in Reading, Pa., is a joint venture among Penske Corporation, Penske Automotive Group and General Electric.
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