Ryder Acquires Efficiency Enterprises; Expands East Coast Fleet Network

Ryder expects the acquired business to contribute approximately $50 million in gross revenue to Fleet Management Solutions in 2027.

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11/02/2026 - 12:30 PM EST

Expands Ryder’s truck rental, leasing, and maintenance footprint across six strategic Northeast, Mid-Atlantic, and Florida markets
Builds on Ryder’s growth strategy by increasing capacity and service coverage in high-growth distribution and transportation markets

MIAMI--(BUSINESS WIRE)-- Ryder System, Inc. (NYSE: R) has completed the acquisition of Efficiency Enterprises, a regional provider of fleet management, maintenance, and leasing solutions for trucks, trailers, and material handling equipment. The acquisition adds six new locations in Orlando, Tampa, and Fort Myers, Florida; Astoria, New York; Baltimore, Maryland; and Middletown, Delaware, to Ryder’s fleet services network. In addition, the acquisition will bring approximately 50 technicians and a fleet of roughly 1,200 units into Ryder’s operations. The Efficiency Enterprises fleet includes more than 900 power and trailer units and over 200 material handling equipment units.

Ryder expands its East Coast fleet network with the acquisition of Efficiency Enterprises, strengthening its truck rental, leasing, and maintenance footprint across key Northeast, Mid Atlantic, and Florida markets.

“With Efficiency Enterprises’ experienced workforce, established customer relationships, and strong maintenance and rental operations, we are expanding our ability to support fleets operating in high‑demand logistics markets,” says Tom Havens, president of Fleet Management Solutions for Ryder. “We are pleased to welcome a talented team whose commitment to customers aligns with Ryder’s values and service standards.”

Founded in 1978 in Astoria, New York, by the Merinoff and Drucker families, Efficiency Enterprises began as a single‑site operation and later expanded into Florida, Maryland, Delaware, and New Jersey as customer demand grew. Over nearly five decades, the company built a reputation for reliable service, strong customer relationships, and operational excellence. Through the acquisition, Ryder expands its ability to support customers with integrated fleet management, maintenance, and transportation solutions. The transaction, which closed on November 1, 2026, is expected to add approximately $50 million in gross revenue to Ryder’s FMS business in 2027 and provide incremental growth to Ryder’s earnings. Financial terms of the deal are not disclosed.

To support a seamless transition and maintain uninterrupted services for customers, Efficiency Enterprises’ assets and operations will be integrated into Ryder’s network throughout 2026. Richard Barbato Jr., president of Efficiency Enterprises, will work closely with Ryder during the transition.

“For nearly 50 years, our family and associates have built Efficiency Enterprises on a commitment to our customers, our employees, and operational excellence,” says Richard Barbato Jr., president of Efficiency Enterprises. “We’re proud of the business we have built and the trusted relationships that have sustained it. Ryder shares the values that have guided our company, and we are confident it is the right home for our employees and customers as we begin this next chapter together.”

Strengthening Presence in High-Volume Freight Corridors

The six markets included in the transaction represent strategically important freight and distribution hubs across the Eastern United States. Central Florida continues to experience growth driven by distribution, e-commerce, and food and beverage logistics. Astoria provides access to dense urban delivery and last-mile operations across New York City, while Baltimore serves as a major gateway for port-related freight and manufacturing activity. Middletown sits within a key Mid-Atlantic distribution corridor connecting major East Coast markets. Together, these locations expand Ryder’s ability to support customers operating in diverse, high-demand transportation and logistics environments.

Building Ryder’s Growth Strategy

The acquisition supports Ryder’s broader strategy of investing in high-growth logistics markets and expanding customer access to fleet solutions across the United States. It reflects Ryder’s continued focus on increasing capacity, strengthening service coverage, and supporting customer growth in key industrial and distribution regions. To learn more about Ryder’s truck leasing and fleet maintenance solutions, visit https://www.ryder.com/en-us/fleet-leasing.

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a nearly $13 billion leading provider of outsourced logistics and transportation services throughout the United States, Canada, and Mexico. Ryder offers supply chain, dedicated transportation, and fleet management solutions that integrate every step of the supply chain port‑to‑door, including cross-border logistics, fleet and transportation management, warehousing and distribution, and final delivery to customers’ doorsteps. Ryder’s broad portfolio of services encompasses managed transportation, freight brokerage, dedicated contract carriage with professional drivers, full‑service fleet leasing and maintenance, commercial truck rental, automation and robotics, digital technologies, contract manufacturing and packaging, omnichannel retail fulfillment including e-commerce and last-mile delivery, and used vehicle sales. Serving more than 20 industries, Ryder manages approximately 240,000 commercial vehicles, operates nearly 800 maintenance locations, and runs approximately 320 warehouses totaling more than 100 million square feet. Ryder is consistently recognized for technology‑driven innovation and industry‑leading practices in safety, health, security, talent acquisition, and environmental management, and was most recently named to Fortune’s “America’s Most Innovative Companies” list. www.ryder.com

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements, including our expectations regarding the benefits and financial impacts of the transaction, should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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