Ryder System (NYSE: R) has acquired Efficiency Enterprises, a regional provider of fleet management, maintenance and leasing solutions for trucks, trailers and material handling equipment. FreightWaves reported the deal on Friday, November 6, 2026. Ryder did not disclose the purchase price.
Efficiency Enterprises operates entirely on the East Coast from six locations: Orlando, Tampa and Fort Myers in Florida; Astoria in the New York City borough of Queens; Baltimore; and Middletown, Delaware. The business brings roughly 1,200 vehicles, including about 900 power units, to Ryder's Fleet Management Solutions unit, known as FMS.
Ryder said the acquisition would add about $50 million in gross revenue to FMS next year and provide incremental growth to earnings. FMS reported revenue of approximately $4.6 billion through the first nine months of 2026, so the addition is small against the size of the segment.
FMS made up 56% of Ryder's total revenue in 2018 and 40% in the most recent quarter, according to a slide in the company's third quarter earnings presentation. The purchase is the second FMS addition in three years. Ryder acquired Pit Stop Fleet Services in 2024, which brought approximately $24 million in revenue and expanded the Torque by Ryder retail mobile maintenance business.
A Ryder spokesman said Efficiency Enterprises adds a broader combination of fleet leasing, maintenance, customer relationships, assets and physical locations. The company said the deal reflects its focus on increasing capacity, strengthening service coverage and supporting customer growth in key industrial and distribution regions. The spokesman also said the combination of an experienced workforce, established customer relationships and strong leasing and maintenance operations in key logistics markets forms the strategic value of the transaction.
Source: FreightWaves - https://www.freightwaves.com/news/ryder-grows-its-fms-business-with-east-coast-acquisition