Ryder acquires Metro Truck & Tractor Leasing, terms not stated
Ryder System announced it has completed the acquisition of all outstanding equity of Metro Truck & Tractor Leasing. Ryder will now operate Metro's two Maryland facilities in Beltsville and Baltimore, which provide truck leasing, rental, and maintenance services to more than 150 customers with a fleet of approximately 900 units. As part of this acquisition, Ryder purchased mobile maintenance vehicles that will provide maintenance services to customers in and around Baltimore and Washington, D.C. With Ryder Mobile Maintenance, Ryder goes to the customer, wherever they may be, with fully-equipped vehicles that provide customized maintenance to ensure fleet uptime. The acquisition, completed on June 15, 2018, is expected to be slightly accretive to earnings this year. Ryder anticipates additional earnings improvement in future years due to synergies and operational improvements within the combined companies, as well as from growth opportunities with Metro's current customers and prospects in the Maryland market.