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Ryder System Inc. has completed the acquisition of the lease, rental and maintenance assets of B.I.T. Leasing Inc. The target company is a privately owned, full-service truck leasing and fleet services provider with headquarters in Hayward, Calif. The acquisition was completed in two phases, the first ending in August, 2010 and the second in March, 2011. The deal is expected to add approximately $9m in annualized operating revenue to Ryder's Fleet Management Solutions business segment. B.I.T.'s fleet includes about 364 full-service lease, 121 rental and 72 contract maintenance units serving 131 contract customers from multiple locations in the San Francisco Bay Area. Ryder provides commercial transportation, logistics and supply-chain management services to a total of more than 15,000 customers.
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