Mergers Open Business Opportunities for Lessors
The urge to merge is as strong as ever in the truck leasing and rental business as companies seek ways to become more efficient, control costs and expand into new markets for logistics services and dedicated contract carriage.
Penske Truck Leasing Corp.’s blockbuster purchase of Rollins Truck Leasing in March 2001 — combining the industry’s No. 2 and No. 3 companies — removed one more marquee player from the field, but also opened the door for smaller regional companies, particularly those affiliated with national leasing systems, to pick up business.“With fewer companies competing for national accounts, we’ll get on more bid lists,” said William J. Ford, president of NationaLease, a leasing franchiser based in Oakbrook Terrace, Ill., that represents 115 independent leasing companies.For the full story, see the April 1 print edition of Transport Topics. Subscribe today.
Penske Truck Leasing Corp.’s blockbuster purchase of Rollins Truck Leasing in March 2001 — combining the industry’s No. 2 and No. 3 companies — removed one more marquee player from the field, but also opened the door for smaller regional companies, particularly those affiliated with national leasing systems, to pick up business.“With fewer companies competing for national accounts, we’ll get on more bid lists,” said William J. Ford, president of NationaLease, a leasing franchiser based in Oakbrook Terrace, Ill., that represents 115 independent leasing companies.For the full story, see the April 1 print edition of Transport Topics. Subscribe today.
