Ryder System (R) Acquires Euroway Group Ltd. Based in Bedfordshire, England

August 2, 2012 7:14 AM EDT
Ryder System, Inc. (NYSE: R) has acquired independently owned and operated Euroway Group Ltd. based in Bedfordshire, England. Euroway is a commercial truck leasing, maintenance and fleet management provider serving primarily the southern part of the UK. The stock acquisition was completed on August 1, 2012.

The acquisition is expected to add approximately £12.8 million (approximately $20.2 million) in annual revenue to Ryder’s Fleet Management Solutions (FMS) business segment, and be modestly accretive to comparable earnings this year. The acquisition adds approximately 1,400 vehicles, primarily medium and heavy duty, as well as trailers.

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