Truck leasing and supply chain service company Ryder System Inc. said Thursday it has made a small, tuck-in acquisition in the United Kingdom for its Fleet Management Solutions group.
The Miami-based company said it bought Euroway Group Ltd., a commercial truck leasing, maintenance and fleet management firm in Bedfordshire, England.
Terms of the deal were not announced, but Ryder said Euroway would add $20.2 million in annual revenue to its top line and be moderately accretive to earnings this year.
The acquisition adds almost 1,400 vehicles, primarily medium and heavy-duty, as well as trailers to Ryder’s European fleet.
Ryder Europe focuses on commercial vehicle rental and dedicated contract delivery and operates from 29 locations on the continent.
Last summer, Ryder bought Hill Hire plc, a larger truck leasing, rental and maintenance company in Bradford, England, for $252 million. – Eric Kulisch
Ryder buys small U.K. truck leasing outfit
