Penske to Acquire Star Truck Rentals, Inc.

Penske to Purchase Star Truck Leases, Inc.

Penske Truck Leasing reached an settlement to accumulate Star Truck Leases, Inc., a transportation providers firm providing full-service leasing, industrial truck rental, contract upkeep, used truck gross sales and extra providers. Monetary phrases weren’t disclosed.

Based over 150 years in the past, Star Truck Leases operates over 1,900 automobiles from 18 places all through Michigan and Indiana. The corporate serves a various buyer base throughout the meals and beverage, manufacturing and shopper items and providers industries.

“Star Truck Leases has spectacular scale within the area, a superb status within the trade and a dedication to distinctive customer support,” stated Artwork Vallely, president, Penske Truck Leasing. “We sit up for integrating Star into the Penske model and leveraging the very best each corporations have to supply to serve new and present prospects within the area.”

“We’re excited to hitch Penske,” stated Tom Bylenga, president, Star Truck Leases. “Penske and Star share an identical tradition and strategy in direction of supporting prospects and growing associates. Becoming a member of with Penske will supply new alternatives for development throughout an expanded community.”

This transaction is topic to customary closing situations, together with sure regulatory approvals. The events concerned anticipate closing the transaction within the second quarter of 2023.

By “Transfer Forward” Employees

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