William B. Cassidy | Feb 01, 2011 12:15PM EST
Ryder System completed the acquisition of California-based trucking operator The Scully Companies on Monday, expanding its dedicated contract carriage business.
It's the third major acquisition for $1.3 billion Ryder in recent weeks. The company acquired $250 million Total Logistic Control of Holland, Mich., early last month.
Ryder also purchased Carmenita Leasing, a truck leasing and rental business in Santa Fe Springs, Calif., for an undisclosed price.
Scully, a $100 million company, gets about 65 percent of its revenue from dedicated contract carriage and the rest from truck leasing, rental and maintenance.
The acquisition strengthens Ryder in the Western U.S. and expands its dedicated carriage customer base in the retail sector, said Chairman and CEO Greg Swienton.
Terms of the deal were not disclosed.
Scully's dedicated business served 17 customers from 25 locations in the Western U.S. and six service facilities. Its leasing business operated about 1,800 full service lease vehicles and 300 rental vehicles, serving about 200 contract customers.
Facilities in Sacramento, City of Industry and Montebello, Calif., and Phoenix will be consolidated into Ryder's nearest existing locations, the company said.
Ryder will keep Scully's Fontana and Hayward, Calif., service centers.
-- Contact William B. Cassidy at wcassidy@joc.com.