Penske adds nearly 3,000 vehicles and 25 locations

Penske Truck Leasing has officially acquired two companies that will expand its network of more than 430,000 vehicles, 900-plus maintenance facilities and more than 2,500 rental locations across North America.

Penske has begun integrating the facilities, staff, vehicles and processes of Star Truck Rentals Inc. and Kris-Way Truck Leasing Inc. into its existing network, the company said in a news release.

Grand Rapids, Mich.-based Star Truck Rentals Inc. operates 18 locations throughout Michigan and Indiana and has a fleet of approximately 1,900 vehicles. The transportation services company offers full-service leasing, commercial truck rental, contract maintenance, used truck sales and additional services.

In April, Penske announced an agreement with Star Truck Rentals was in place.

“Star Truck Rentals has impressive scale in the region, an excellent reputation in the industry and a commitment to exceptional customer service,” Art Vallely, president of Penske Truck Leasing, said in a statement. “We look forward to integrating Star into the Penske brand and leveraging the best both companies have to offer to serve new and existing customers in the region.”

Kris-Way Truck Leasing Inc. adds 900 vehicles to the Penske fleet as well as seven locations in Maine and New Hampshire. Headquartered in South Portland, Maine, New England’s largest independent truck leasing company provides full-service leasing, commercial truck rental, contract maintenance and dedicated contract carriage.

Penske’s acquisition of Kris-Way was initially announced in March.

“Kris-Way has earned a stellar reputation in the marketplace,” Vallely said. “Penske and Kris-Way customers will benefit from the combined services both companies have to offer across our growing network. We look forward to working closely with Kris-Way customers and associates to integrate the business into the Penske brand.” LL

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