|Penske Truck Leasing Co. on Thursday, Jan. 7, announced it has entered into an agreement with the Bright family to acquire Bright Truck Leasing & Bright Distribution, providers of full-service truck leasing, truck rental, maintenance and logistics operations. Financial terms were not disclosed. The transaction is subject to customary closing conditions, and the parties anticipate closing by late February.
Headquartered near Dallas, Bright serves about 2,400 customers at 19 locations throughout Texas. Penske says Bright’s products and services align well with its services and include full-service truck leasing, truck rental, contract maintenance and dedicated contract carriage services. The acquisition will add about 3,400 tractors, trucks and trailers to Penske’s fleet.
“Bright and Penske customers will benefit from synergies in our products and services available through our combined network of facilities across North America,” says Brian Hard, president and chief executive officer of Penske Truck Leasing, based in Reading, Pa. “We have a strong commitment to customer service, and we will continue providing the high-quality service Bright’s customers have come to expect. This move is consistent with our efforts to grow our business organically and via strategic acquisitions.”
Penske to acquire Bright Truck Leasing/Distribution