Ryder System, Inc. (NYSE: R), a global leader in transportation and supply chain management solutions, today announced it has reached an agreement to acquire substantially all the assets of Gordon Truck Leasing, a full service truck leasing, commercial truck rental, and fleet services company headquartered in Philadelphia, Pa. The acquisition is expected to be finalized later this month and is subject to customary closing conditions.
"Gordon Truck Leasing is a high quality and well-managed transportation service provider with a strong reputation in the metropolitan Philadelphia area," said Ryder Chairman and Chief Executive Officer Greg Swienton. "We are pleased to be able to add new customers to our existing locations, as well as provide them with the additional services and solutions for which Ryder is recognized in the industry."
Per the terms of the transaction, Ryder will acquire Gordon's fleet of approximately 430 full service lease units, 45 rental units, and 35 held-for-sale units and approximately 130 contract customers of Gordon Truck Leasing currently served by its five locations in the Philadelphia market.
"Ryder has been a reputable market leader for 75 years supporting more than 16,000 customers globally," said Drew Gordon, President and Owner of Gordon Truck Leasing. "Ryder will be able to provide Gordon's customers with new resources, increased product offerings, and a large network of service locations which will help customers grow in the competitive marketplace."
"Gordon Truck Leasing is a high quality and well-managed transportation service provider with a strong reputation in the metropolitan Philadelphia area," said Ryder Chairman and Chief Executive Officer Greg Swienton. "We are pleased to be able to add new customers to our existing locations, as well as provide them with the additional services and solutions for which Ryder is recognized in the industry."
Per the terms of the transaction, Ryder will acquire Gordon's fleet of approximately 430 full service lease units, 45 rental units, and 35 held-for-sale units and approximately 130 contract customers of Gordon Truck Leasing currently served by its five locations in the Philadelphia market.
"Ryder has been a reputable market leader for 75 years supporting more than 16,000 customers globally," said Drew Gordon, President and Owner of Gordon Truck Leasing. "Ryder will be able to provide Gordon's customers with new resources, increased product offerings, and a large network of service locations which will help customers grow in the competitive marketplace."
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