Hub Truck Acquires Public Service Truck Renting
HUB Truck Leasing & Rental has acquired Public Service Truck Renting, which is headquartered in Long Island City.
By: David Winzelberg January 5, 2022
Farmingdale-based Hub Truck Leasing & Rental has acquired Public Service Truck Renting, which is headquartered in Long Island City.
Terms of the deal were not disclosed.
The acquisition will allow Hub Truck to combine its facilities in Brooklyn and Newark, New Jersey with Public Service’s Long Island City and Newark locations, according to a company statement. The combined company will be operating over 2,600 trucks in the tri-state area.
The two management teams will be joined together and led by Lance Kaufman, CEO of Hub Truck, while Andrew Sommer, Public Service’s current president, will become Hub’s executive vice president.
“Public Service is an ideal partner to help us accelerate our growth plan and increase our market share,” Kaufman said in the statement.
Established in 1957, Hub Truck Rental Corp. is the New York metropolitan area’s largest full-service commercial truck leasing and rental company, according to the statement. Hub is a member of NationaLease, which is composed of over 165 independent truck leasing businesses across the U.S. and Canada, including Public Service Truck Renting. Public Service has operated as a family-owned commercial truck rental and leasing company since its founding in 1956. With over 600 trucks, PSTR rents and leases commercial vehicles of all sizes by the day, week and year.
“We want our employees to think and act like owners,” Sommer said in the statement. “Our PSTR team is excited about joining with Hub and offering expanded transportation logistics and geographic coverage.”