On Friday, Reading, Pa.-based Penske Truck Leasing announced it had expanded its operations through the acquisition of Star truck Rentals, Inc., and Kris-Way Truck Leasing.
The acquisitions increase Penske’s existing fleet by approximately 2,800 vehicles – 1,900 from Star Truck Rentals, and 900 from Kris-Way Truck Leasing. Star Truck Rentals 18 locations in Michigan and Indiana will also expand Penske’s footprint, as well Kris-Way Truck Leasing’s seven locations in Maine and New Hampshire. Penske said the facilities, staff, vehicles and processes of both companies will be added into the Penske network.
“We are excited to join Penske,” Star Truck Rentals President Tom Bylenga said in a statement earlier this year. “Penske and Star share a similar culture and approach towards supporting customers and developing associates. Joining with Penske will offer new opportunities for growth across an expanded network.”
Star Truck Rentals was founded in the mid-1800s as a horse-drawn freight hauling company in Grand Rapids, Mich. Prior to its acquisition, the company said, it was a fifth generation owned company, and one of the oldest family-owned transportation companies in the county.
Penske Truck Leasing President Art Valley said the Star Truck Leasing had an “impressive scale in the region” and an “excellent reputation.
Headquartered in Reading, Penske Truck Leasing is a division of Penske Transportation Solutions and is a leading provider of innovative transportation solutions. Penske operates and maintains more than 431,000 vehicles at more than 930 maintenance facilities and 2,570 rental locations across the