Ryder System announced Monday, April 14, that it 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. The acquisition, terms of which were not announced, is expected to be finalized in May 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,” says Greg Swienton, chairman and chief executive officer of Miami-based 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 about 2,300 full-service lease and rental units and about 300 contract customers served by Gator Leasing from its nine locations in Florida.
“It is clear to me that Ryder is well positioned to provide our customers with the most comprehensive products and services available in the marketplace,” says James F. Hammel, Gator president. “Gator is pleased to join such a well-respected industry leader like Ryder.”