Ryder System, Inc. has announced it has reached an agreement to acquire the full-service truck leasing, commercial truck rental and contract maintenance businesses of Edart Leasing Co. LLC. The acquisition, subject to customary closing conditions, is expected to be finalized this month.
Hartford, CT-based Edart operates in the Northeast U.S., serving more than 340 contract customers from its nine locations in Connecticut, Massachusetts, and New Jersey. Ryder will acquire Edart’s fleet of approximately 1,450 full-service lease and 150 rental units, as well as 600 vehicles that will be re-marketed.
“Edart Leasing is a well-known and respected, family-owned transportation service provider that has been a strong competitor in the Northeast,” said Ryder chairman & CEO Greg Swienton. “By building on the best practices and unique qualities of each company, we can strengthen our network and product offering in the Northeast to bring more business resources and value to customers of both companies.”