02 August 2012
Ryder Europe today announced that it has completed the outright purchase of commercial vehicle contract hire and fleet management specialist Euroway.
Euroway provides a high quality commercial truck and trailer contract hire service, together with fleet management and vehicle maintenance from its base in Leighton Buzzard, Bedfordshire. Euroway’s fleet of 1,419 commercial vehicles ranging from 44 tonne tractor units to 3.5 tonne vehicles and trailers will transfer to Ryder.
David Hunt, Vice President and Managing Director Ryder Europe, said: “Ryder is continuously looking at how it can strengthen the business to better serve customers. The acquisition of Euroway fits perfectly with our ongoing investment and growth strategy. Euroway is widely respected, well run and has grown substantially over the past 18 years through organic growth and acquisition. Euroway has extensive expertise in maintenance and fleet management which complements Ryder’s offerings. Euroway’s innovative approach, range of services and strong commitment to customer service make the company a good fit with our own.”
Justin Lochhead, Euroway’s Managing Director who is joining the Ryder team, added: “I am very excited about Euroway being part of Ryder. Euroway’s customer portfolio includes major retailers, wholesalers, food distribution companies, manufacturers, third-party logistics providers and fuel distributors across the UK and Ireland. This solid base of contractual blue chip customers strengthens the combined business position in a range of key markets where there is strong potential for growth.
“I believe that Ryder’s national location network and wide range of vehicle options and services will bring huge benefits to Euroway’s existing customers.”
“We will initially be running Euroway in parallel with Ryder,” concludes Hunt. “Our focus will be to work closely with customers and suppliers to ensure that high service levels continue with minimum disruption.”