Penske to Acquire Rental Company

The transaction is subject to due diligence.

"This purchase allows Penske to better serve the Ohio market and is consistent with our strategic plan to expand our service network to better meet our customer's needs," said Wayne Angelbeck, vice president of business development of Penske Truck Leasing.

Penske is the nation's second largest truck rental and leasing company with 400 locations in the U.S., Canada and Mexico. Penske Logistics provides integrated logistics services and its Leaseway Auto Carrier unit provides vehicle hauling.