Ryder System announced that Velox Transport Services expanded its fleet with 40 tractors and 40 refrigerated trailers under a Full Service Lease agreement with Ryder. With a Full Service Lease (FSL), Ryder acquires vehicles according to the customer’s specifications, provides financing, maintenance and fleet support services, and then manages vehicle disposal to protect customers from residual risk.

With the addition of the new tractors and trailers, Velox’s total lease fleet with Ryder consists of 226 pieces of equipment. The vehicles are equipped with RydeSmart®, Ryder’s full-featured GPS fleet location, tracking, and vehicle performance management system.

“Being a partner in Velox’s growth has been truly exciting,” said Dennis Cooke, President of Global Fleet Management Solutions for Ryder. “Just three years ago, they gave us the opportunity to offload the stress of managing and maintaining a fleet, and since then, they’ve experienced significant savings that have drastically improved their bottom line. Their consistent expansion is a testament to what Ryder’s services can do for businesses.”