Ryder Expands in Maryland With Completed Acquisition
Ryder System Inc. has completed the acquisition of all outstanding equity of Metro Truck & Tractor Leasing. Ryder now will operate Metro’s two Maryland facilities in Beltsville and Baltimore, which provide truck leasing, rental and maintenance services to more than 150 customers with a fleet of 900 units.
Ryder will operate four maintenance bays and a fuel island with two 10,000-gallon fuel tanks at the Beltsville facility. The Baltimore shop is equipped with five maintenance bays and a fuel island that supports two 15,000-gallon fuel tanks.
As part of this acquisition, Ryder purchased mobile maintenance vehicles that will provide service to customers in and around Baltimore and Washington. With Ryder Mobile Maintenance, Ryder goes to the customer, wherever they may be, with fully equipped vehicles that provide customized maintenance to ensure fleet uptime, according to the Miami-based company.
The acquisition is expected to be slightly accretive to earnings this year. Ryder anticipates additional earnings improvement in future years due to synergies and operational improvements within the combined companies, as well as from growth opportunities with Metro’s current customers and prospects in the Maryland market.
