GE Capital Buys B of A Lease Portfolio
February 28, 2000
• by Staff
GE Capital Fleet Services has purchased the corporate and utility fleet leasing portfolio of Bank of America Leasing and Capital Group. The portfolio, which includes some 26,000 commercial trucks and cars nationwide, will become part of GE Capital Fleet Services' North American business.
Last year GE Capital purchased Bank of America Leasing's small fleet services portfolio consisting of approximately 13,000 cars and trucks.
The latest acquisition "enables us to expand our market presence, especially with customers in the utility market," said Rick Smith, president and CEO of the fleet services division.