Penske to Acquire Old Dominion Truck Leasing

Penske Truck Leasing announced it has entered into an agreement to acquire Richmond, Virginia-based Old Dominion Truck Leasing. Financial terms were not disclosed.

Old Dominion Truck Leasing serves approximately 360 customers in diverse industry sectors from 11 locations in five states. Old Dominion Truck Leasing’s products and services, according to Penske, align well with Penske’s existing service offering that includes full-service truck leasing, truck rental, contract fleet maintenance, and dedicated contract carriage.

The acquisition adds approximately 1,400 tractors, trucks and trailers to Penske’s fleet.

Penske Truck Leasing Co., L.P., headquartered in Reading, Pennsylvania, 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.

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