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Union Leasing Acquires Express 4x4 Rental

January 03, 2014

Fleet management company Union Leasing has acquired Express 4x4 Truck and its fleet of pickup trucks in a deal where terms were not disclosed.

The acquisition, which was announced in December, will be a good fit in Union Leasing's expansion plans, said Kent Boskovich, the company's president.


"Over the years, we have been open to growing our business and services by acquiring another company," Boskovich said. "We knew we would have to find the right fit for our culture and our existing business, and the great people and business model of Express Truck are natural complements for Union."

Express 4x4 Truck provides outsources management and transportation to companies requiring full-size trucks to transport people, equipment and gear to work sites in remote areas. Express maintains a fleet of three-quarter-ton full-size diesel 4x4 pickups such as the Ram 2500, Ford F-250, and Chevrolet Silverado 2500. The trucks are used for construction, infrastructure, turbine, and security projects that last from six to 15 months.

Union Leasing plans to tap its working capital to accelerate Express 4x4 Truck's growth, according to a company announcement.

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The specific name given in the United Kingdom to closed end leases, i.e., leases with a fixed term (24 months, 36 months, etc.) wherein the lessor assumes most risks of ownership, notably depreciation and funding, defined levels of administration, and certain expenses of licensing or registration.

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