Ryder Completes Acquisition of Calif. Leasing Company
Ryder System said Tuesday it completed its acquisition of B.I.T. Leasing, a truck leasing and fleet services company based in Hayward, Calif.
The first phase of the deal was completed in August and the second last month, Ryder said in a statement.
Ryder said it expects the acquisition to add about $9 million in annual operating revenue to its fleet management solutions business unit and more in future years.
Ryder anticipates additional earnings in future years due to synergies and operational improvement within the combined organizations.
Ryder is ranked No. 5 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
