Penske Completes Bright Truck Leasing Acquisition
READING, Pa., March 1, 2010 – Penske Truck Leasing Co., L.P., today announced it has completed the acquisition of Texas-based Bright Truck Leasing & Bright Distribution, a privately owned full-service truck leasing, truck maintenance, commercial truck rental and logistics services provider.
The acquisition adds approximately 3,400 tractors, trucks and trailers to Penske's existing fleet. Penske is now integrating Bright's facilities, staff, vehicles, and processes into its existing network. Challenger Capital Group, Ltd. acted as financial advisors to the selling parties.
Penske Truck Leasing Co., L.P., headquartered in Reading, Pa., is a joint venture among Penske Corporation, Penske Automotive Group and General Electric. A leading global transportation services provider, Penske operates more than 200,000 vehicles and serves customers from more than 1,000 locations in North America, South America, Europe and Asia. Product lines include full-service truck leasing, contract maintenance, commercial and consumer truck rentals, transportation and warehousing management, and supply chain management solutions. Visit www.GoPenske.com to learn more about the company and its products and services.