Ryder Europe has bought Hill Hire, the truck rental and contract hire company from Lloyds Bank for £154 million.
The purchase follows Ryder’s investment of around £44 million in new vehicles over the past two years.
All of Hill Hire’s assets will transfer to Ryder as will the company’s UK workforce of around 300 staff and technicians.
This includes 13 depots located throughout the UK, approximately 4,000 HGVs, and other equipment including a large trailer fleet for rental and contract hire.
Under the combined business, Ryder will now operate a fleet of over 10,000 HGVs and will serve the rental, contract hire and maintenance needs of some 5,000 customers.
Robert Sanchez, president of global fleet management solutions for Ryder said: “Hill Hire’s vehicle fleet, which comprises 60 per cent tractors, complements Ryder’s existing UK fleet which is largely rigid based. It will enable us to provide improved choice and value for customers with additional payload and vehicle specification options that further strengthen the Ryder product range.”