M&A Deal Summary

Penske Truck Leasing Acquires Kris-Way Truck Leasing

On March 30, 2023, Penske Truck Leasing acquired transportation company Kris-Way Truck Leasing

Acquisition Highlights
  • This is Penske Truck Leasing’s 1st transaction in the Transportation sector.
  • This is Penske Truck Leasing’s 3rd transaction in the United States.
  • This is Penske Truck Leasing’s 1st transaction in Maine.

M&A Deal Summary
Date 2023-03-30
Target Kris-Way Truck Leasing
Sector Transportation
Buyer(s) Penske Truck Leasing
Deal Type Add-on Acquisition

Target

Kris-Way Truck Leasing

South Portland, Maine, United States
Kris-Way Truck Leasing is a transportation services company offering full-service leasing, commercial truck rental, contract maintenance and dedicated contract carriage. Kris-Way Truck Leasing was founded in 1978 and is based in South Portland, Maine.

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Buyer(S) 1

Buyer

Penske Truck Leasing

Reading, Pennsylvania, United States
Category Company
Sector Transportation
DESCRIPTION

Penske Truck Leasing Co. LP is a global transportation services provider, Penske operates more than 250,000 vehicles and serves customers from more than 1,000 locations in North America, South America, Europe, Australia and Asia. Product lines include full-service truck leasing, contract maintenance, commercial and consumer truck rentals, used truck sales, transportation and warehousing management and supply chain management solutions.

DEAL STATS #
Overall 3 of 4
Sector (Transportation) 1 of 2
Type (Add-on Acquisition) 3 of 4
State (Maine) 1 of 1
Country (United States) 3 of 4
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-03 DeCarolis Truck Rental

Rochester, New York, United States

DeCarolis Truck Rental is a provider of truck leasing, rental, maintenance and repair services to the food processing and distribution, consumer distribution and freight hauling industries. DeCarolis Truck Rental was founded in 1938 and is based in Rochester, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-26 Star Truck Rentals

Grand Rapids, Michigan, United States

Star Truck Rentals is a transportation services company offering full-service leasing, commercial truck rental, contract maintenance, used truck sales, and additional services. The company operates over 1,900 vehicles from 18 locations throughout Michigan and Indiana. It serves a diverse customer base across the food and beverage, manufacturing, and consumer goods and services industries. Star Truck Rentals is based in Grand Rapids, Michigan.

Buy -
Mergr

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