Scully has been in business for 29 years and is headquartered in Fontana, California. The acquisition is expected to be finalized in late January and is subject to customary closing conditions.
"Scully is a well-run and highly respected organization in California and other western states and we are honored to have them become part of Ryder," said Ryder Chairman and Chief Executive Officer Greg Swienton.
"This acquisition is a key milestone for us as it significantly expands our current presence in Fleet Management Solutions in key Western states, as well as increasing our customer base in the retail vertical for Dedicated Contract Carriage services."
Per the terms of the agreement, Ryder will acquire Scully's fleet management business consisting of approximately 1,800 full service lease units and 300 rental vehicles, and approximately 200 contract customers primarily served from its six service facilities. These include California locations in Fontana, Sacramento, City of Industry, Montebello, and Hayward, along with a location in Phoenix. Ryder will also acquire Scully's dedicated contract carriage business, including customers served from 25 locations throughout the western U.S.
"We personally selected Ryder as the only company to whom we would sell. They are a world class organization that is well positioned and committed to providing our customers with the most comprehensive products and services available in the marketplace and our employees with the best employment options," said Scully President, Stephen Scully. "We are pleased to become part of such a well-respected industry leader like Ryder."