M&A Deal Summary

Penske Truck Leasing Acquires Star Truck Rentals

On April 26, 2023, Penske Truck Leasing acquired transportation company Star Truck Rentals

Acquisition Highlights
  • This is Penske Truck Leasing’s 2nd transaction in the Transportation sector.
  • This is Penske Truck Leasing’s 4th transaction in the United States.
  • This is Penske Truck Leasing’s 1st transaction in Michigan.

M&A Deal Summary
Date 2023-04-26
Target Star Truck Rentals
Sector Transportation
Buyer(s) Penske Truck Leasing
Deal Type Add-on Acquisition

Target

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.

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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 4 of 4
Sector (Transportation) 2 of 2
Type (Add-on Acquisition) 4 of 4
State (Michigan) 1 of 1
Country (United States) 4 of 4
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-30 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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