Penske Truck Leasing plans to acquire Maine-based Kris-Way Truck Leasing Inc.
The companies anticipate closing on the deal in the second quarter of 2023. Financial terms were not disclosed.Kris-Way is a transportation services company that was founded in 1978 and offers commercial truck rental. The company has approximately 150 employees and more than 900 vehicles at seven locations throughout Maine and New Hampshire.
“Kris-Way has earned a stellar reputation in the marketplace. Penske and Kris-Way customers will benefit from the combined services both companies have to offer across our growing network,” Art Vallely, president of Penske Truck Leasing, said in a news release. “We look forward to working closely with Kris-Way customers and associates to integrate the business into the Penske brand.”
Penske Truck Leasing is a Penske Transportation Solutions company and has 416,000 vehicles, 919 maintenance facilities and more than 2,500 rental locations across North America.