Ryder buys Efficiency Enterprises, adding six East Coast maintenance shops and about 1,200 units
The deal, which closed Nov. 1, brings shops in Florida, New York, Maryland and Delaware into Ryder's Fleet Management Solutions business. Ryder expects about $50 million in revenue from it in 2027.
Ryder System has bought Efficiency Enterprises, a family-owned truck leasing, rental and maintenance company with shops along the East Coast.
The deal closed Nov. 1, Ryder said in a Nov. 2 release. The terms were not disclosed.
What Ryder gets
Efficiency Enterprises brings six locations:
- Orlando, Tampa and Fort Myers, Fla.
- Astoria, N.Y.
- Baltimore, Md.
- Middletown, Del.
It also brings about 50 technicians and a fleet of about 1,200 units. More than 900 of those are power units and trailers. More than 200 are material-handling equipment such as forklifts.
A 1978 start in Queens
Efficiency Enterprises was founded in 1978 in Astoria by the Merinoff and Drucker families. Over the years it expanded into Florida, Maryland, Delaware and New Jersey.
Richard Barbato Jr. is its president. Tom Havens, president of Fleet Management Solutions at Ryder, leads the business the shops are joining.
What it means for customers
The business becomes part of Ryder's Fleet Management Solutions segment, which handles full-service leasing, rental and maintenance. Ryder expects the deal to add about $50 million in gross revenue to that segment in 2027.
Ryder expects to finish folding the business into its own operations through the end of 2026.
Ryder has about 240,000 commercial vehicles, about 800 maintenance locations and about 320 warehouses across North America.