Madison’s Velcor Leasing Corporation was acquired by Pittsburgh-based Bud Behling Leasing, a fleet management company, through a stock purchase agreement on Feb. 27. BBL announced the deal in a press release this week.
Combined, BBL Fleet and Velcor represent more than a century of fleet management expertise across North America.
Velcor’s established Midwest presence will expand BBL Fleet’s geographic reach.
“We are excited about the growth and long-term value this partnership creates,” BBL Fleet President & CEO Bud Behling said in a statement. “By combining our strengths and mutual commitment to clients, we are well positioned to pursue sustained growth in this business segment and region.
BBL Fleet is a nationally recognized fleet management provider, a company that helps manage cars and trucks in an organization’s fleet from purchase to disposal.
