Rollins Completes UPS Leasing Acquisition
January 3, 2000
Rollins Truck Leasing Corp. says its Rollins Leasing Corp. subsidiary has completed the acquisition of UPS Truck Leasing. Concurrently, the assets and busines of Rollins Logistics has been sold to Worldwide Dedicated Services, a UPS Logistics Group company.
UPS Leasing provides full-service lease and rental services for over 10,000 vehicles and 4,000 customers throughout the U.S. Rollins says the acquisition will add about 40 locations to its nationwide network of branch facilities.
Annual revenues for the company are expected to increase by approximately $40 million as a result of the acquisiiton of UPS Truck Leasing and the sale of Rollins Logistics. The company said it also expects significant additional revenue growth during the next few years due to a new strategic alliance with UPS Logistics. Under that agreement, Rollins becomes the preferred provider of lease and rental vehicles and other services to Worldwide Dedicated Services. In turn, UPS Logistics Group becomes the preferred provider of logistics management and dedicated logistics services to Rollins and its customers.