Ryder System, a provider of transportation and supply chain management solutions, announced Wednesday, Aug. 29, that it has reached agreement to acquire substantially all the assets of Pollock NationaLease, one of Canada’s largest privately-owned full-service truck leasing companies based in Strathroy, Ontario.
Pollock NationaLease provides full-maintenance leasing and rental of trucks and trailers to the transportation, manufacturing and service industries. Per the terms of the transaction, Ryder Canada will acquire Pollock’s fleet of more than 2,000 vehicles and more than 187 contract customers served by the Ontario locations of Sarnia, Windsor, London, Baden and Milton, as well as the New Brunswick location of Moncton. The combined network will operate under the Ryder name, complementing Ryder Canada’s market coverage and service network.
“Pollock NationaLease is a well-known and respected name in Canada’s transportation industry with an outstanding reputation of delivering high levels of customer service,” says Greg Swienton, chairman and chief executive officer of Miami-based Ryder. “This acquisition allows us to expand our Canadian network, establish a footprint in the Milton area of Greater Toronto, and continue to build on the strong foundation of quality service and best practices to further our value to customers of both companies.”
The acquisition, terms of which were not announced, is expected to be finalized in October 2007. Completion of the acquisition is subject to customary conditions, including the receipt of applicable regulatory approvals.
“Ryder has always been a high-quality competitor for us in Canada, and we are confident that the combined companies will further strengthen the quality of service we provide to our customers, as well as offer even more choices of transportation and logistics solutions for them,” says Jim Pollock, chairman of Pollock NationaLease.
