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Ryder Completes Gator Leasing Acquisition
Ryder System said late Monday it has completed its acquisition of Gator Leasing, privately held company based in Miami.
The deal is expected to add about $35 million in annualized operating revenue to Ryder’s Fleet Management Solutions unit. Ryder said it anticipates additional earnings improvement in future years due to synergies and operational improvements within the combined companies.
Ryder acquired Gator’s fleet of about 1,475 full-service lease, 650 commercial rental, and 150 held-for-sale units, serving 300 contract customers, as well as four of Gator’s nine Florida locations.
Customers previously served by Gator in the remaining five facilities will be consolidated into Ryder locations. The combined network will operate under the Ryder name.
Ryder, which announced the deal last month, is ranked No. 5 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.