today announced it has recently completed the acquisitions of Star Truck Rentals, Inc., a transportation services company offering full-service leasing, commercial truck rental, contract maintenance, used truck sales and additional services and Kris-Way Truck Leasing, Inc., a transportation services company offering full-service leasing, commercial truck rental, contract maintenance and dedicated contract carriage.
The acquisition of Star Truck Rentals, Inc. increases ΜΗΠΔ΄«Γ½βs existing fleet by approximately 1,900 vehicles and adds 18 locations throughout Michigan and Indiana. The acquisition of Kris-Way Truck Leasing, Inc. increases ΜΗΠΔ΄«Γ½βs existing fleet by approximately 900 vehicles and adds seven locations throughout Maine and New Hampshire. ΜΗΠΔ΄«Γ½ is now integrating the facilities, staff, vehicles and processes of both companies into its existing network
reached an agreement to acquire Star Truck Rentals, Inc., a transportation services company offering full-service leasing, commercial truck rental, contract maintenance, used truck sales and additional services. Financial terms were not disclosed.
Founded over 150 years ago, Star Truck Rentals operates over 1,900 vehicles from 18 locations throughout Michigan and Indiana. The company serves a diverse customer base across the food and beverage, manufacturing and consumer goods and services industries.
βStar Truck Rentals has impressive scale in the region, an excellent reputation in the industry and a commitment to exceptional customer service,β said Art Vallely, president, ΜΗΠΔ΄«Γ½ Truck Leasing. βWe look forward to integrating Star into the ΜΗΠΔ΄«Γ½ brand and leveraging the best both companies have to offer to serve new and existing customers in the region.β
βWe are excited to join ΜΗΠΔ΄«Γ½,β said Tom Bylenga, president, Star Truck Rentals. βΜΗΠΔ΄«Γ½ and Star share a similar culture and approach towards supporting customers and developing associates. Joining with ΜΗΠΔ΄«Γ½ will offer new opportunities for growth across an expanded network.β
This transaction is subject to customary closing conditions, including certain regulatory approvals. The parties involved anticipate closing the transaction in the second quarter of 2023.
By "Move Ahead" Staff