Ryder System said Wednesday it completed its previously announced acquisition of Gordon Truck Leasing, based in Philadelphia.
The acquisition is will add about $11 million in revenue to Ryder’s fleet management solutions division, the company said in a statement. Ryder said it anticipates future earnings improvement from the combined companies.
In the transaction, Ryder acquired Gordon’s fleet of about 430 full-service lease units, 45 rental units, and 35 held-for-sale units, serving 130 contract customers.
Ryder, ranked No. 5 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers, first announced the acquisition in August.