Today PHH Arval announced its purchase of First Fleet Corporation. Once the operations are joint, First Fleet Corp. and PHH will have a combined fleet of 58,000 medium and heavy trucks.
“Now our purchase of First Fleet, a leader in the highly specialized area of truck fleet services, dramatically strengthens our presence in the expanding truck fleet market,” said George Kilroy, president & CEO of PHH.
PHH Arval has declined to comment on what the First Fleet acquisition cost. PHH’s purchase marks another chapter in the growing trend in the consolidation of the truck leasing industry.