NationaLease Purchasing Corp. (NPC), the purchasing arm of the NationaLease Truck Leasing System (NationaLease), and Ameriquest Transportation and Logistics Resources Corp. have signed an agreement to merge. According to the organizations, the unification will form one of the largest full-service truck leasing systems in North America, representing more than 700 locations and fielding 150,000 trucks throughout the U.S. and Canada.
Under the agreement, AmeriQuest will be the provider of purchasing and value-added services and will have annual revenues in excess of $500 million for equipment purchases. NPC will merge its operations into AmeriQuest. The leasing companies of both systems will operate under the NationaLease umbrella. The merger is expected to close in November.
Both NationaLease and AmeriQuest are comprised of member independent truck leasing companies.
“It makes sense to see these two fine organizations of independent truck lessors consolidate,” said Bill Ford, president & CEO of NationaLease. “This merger not only strengthens the NationaLease network, but also enables us to cherry pick the best services from each organization to deliver to a larger group of truck lessors.”
“With consolidation the norm in today’s business environment, unifying the members of both independent truck leasing organizations will keep us competitive in North America, ensuring our joint viability and success,” said Doug Clark, president & CEO of AmeriQuest. Clark will serve as president & CEO of both companies.
For more information, go to http://www.nationalease.com/gui/content.asp?w=pages&r=83&pid=318