Ryder System Inc. has reached an agreement to acquire substantially all the assets of Gator Leasing Inc., a full-service truck leasing, commercial truck rental, and fleet services company headquartered in Miami FL. The acquisition is expected to be completed in May 2008 and is subject to customary closing conditions.
"Gator Leasing has been a strong transportation service provider and respected competitor in Florida, and we are pleased to have them become a part of Ryder," said Greg Swienton, chairman and chief executive officer of Ryder. "This acquisition is a key strategic milestone for us in expanding and strengthening our core competence in Fleet Management Solutions."
Per the terms of the transaction, Ryder will acquire Gator Leasing’s truck fleet of approximately 2,300 full-service lease and rental units and roughly 300 contract customers served by Gator Leasing from its nine locations in Florida.