Penske to acquire Old Dominion Truck Leasing

June 14, 2017
The acquisition would add approximately 1,400 tractors, trucks and trailers to Penske’s fleet.

Penske Truck Leasing has entered into an agreement to acquire Richmond, Virginia-based Old Dominion Truck Leasing. Financial terms were not disclosed.

“Old Dominion Truck Leasing and Penske Truck Leasing customers will benefit from synergies in our products, technology, and services available across our combined network of facilities,” said Brian Hard, president and CEO, Penske Truck Leasing. “We share a strong commitment to service and will continue to enhance the high-quality service their customers have come to expect.”

Old Dominion Truck Leasing serves approximately 360 customers in diverse industry sectors from 11 locations in five states. Old Dominion Truck Leasing’s products and services align well with Penske’s existing service offerings that includes full-service truck leasing, truck rental, contract fleet maintenance and dedicated contract carriage.

The acquisition adds approximately 1,400 tractors, trucks and trailers to Penske’s fleet. The transaction is subject to customary closing conditions and the parties anticipate closing during the month of July.

Sponsored Recommendations

How to Properly Lubricate your Air Tools

Learn how to properly lubricate your AIRCAT air tools to keep them running at peak performance. Discover essential daily maintenance and storage techniques, along with the right...

Save Time with Standard's Kits & Multipacks

Stock up on essential repair kits! Discover how Standard's multipacks simplify repairs and reduce downtime.

Fuel Injection Training – Pro Tips for Techs

Choosing the right fuel injector matters. Learn best practices for selection and related component recommendations.

ABS Sensor Insights – Get the Right Fit Every Time

ABS sensors are critical to vehicle safety. Learn how they interact with electronic systems and how to choose the best replacement.

Voice Your Opinion!

To join the conversation, and become an exclusive member of Vehicle Service Pros, create an account today!