FOR IMMEDIATE RELEASE:
Utility Fleet Sales Purchases Bucket Trucks & Digger Derricks from Penske Truck Leasing in Western States & Assumes Rental Contracts in Region
June 7, 2012
Bryan, TX – Utility Fleet Sales announced today that it has acquired all bucket truck and digger derrick assets of Penske Truck Leasing, which were staged out of Penske’s Chino, California office. Additionally, Utility Fleet has assumed Penske’s rental contracts in the region for the same equipment. Current rental contracts for bucket trucks and digger derricks in certain western states will be assumed by Utility Fleet. Terms of the transaction were not disclosed.
Based in Bryan, TX, Utility Fleet is a leading provider of sales, service, rental and transport of utility construction equipment. The company serves electric utility, telecommunications, vegetation management, lights and signs, and renewable energy customers as well as other, related industries. Utility Fleet maintains one of the largest utility equipment fleets in North America and services a global customer base, which stretches to every U.S. state and over 20 countries abroad.
“Our state-of-the-art service and remanufacturing facility in Texas ensures that our product arrives, to any global customer, in 100% Ready-To-Work condition. The addition of the Penske rental fleet allows us to better serve our growing customer base in the western states,” said George McMahon, President of Utility Fleet. “We look forward to continuing and strengthening the business relationships that Penske has fostered.” Utility Fleet will immediately assume any rental contracts for bucket trucks and digger derricks in Arizona, California, Nevada, and Oregon, but will be expanding its rental customer base to bordering states. This augments Utility Fleet’s established rental presence in Texas, New Mexico, Oklahoma, Arkansas, and Louisiana.
Utility Fleet’s specialized equipment serves a variety of critical needs in building and maintaining the telecommunications and electric utility transmission and distribution infrastructure. In addition to the company’s core business of selling and renting new and remanufactured utility construction equipment, Utility Fleet also operates a logistics division that transports equipment worldwide.
Utility Fleet has experienced over 35% growth in revenues annually for each of the past five years and will continue to augment its organic growth with an aggressive acquisition strategy.
About Utility Fleet Sales: Utility Fleet Sales is the largest and fastest growing independent dealer of bucket trucks and related equipment in the United States. Headquartered in Bryan, Texas, the company prides itself in delivering the highest quality equipment on the market today. All units are guaranteed to be in 100% READY-TO-WORK condition upon arrival. Utility Fleet maintains one of the largest selections of bucket trucks and digger derricks in the country – and utilizes a nationwide network of affiliated service and repair centers to service its customers throughout North America. Utility Fleet is a full service dealer who’s experienced team has decades of industry expertise in the Utility and Equipment Industries. For more information, visit our internet site at www.UtilityFleetSales.com or follow us on Facebook, Twitter and YouTube.
For Further Information:
Utility Fleet Sales, LTD
Roland Fumasi, Vice-President of Operations