Last modified: 2022-10-22 by rick wyatt
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![[Penske flag]](../images/u/us$pensk.gif)
image by Tomislav Todorovic, 25 September 2022
image based on
photo located by Esteban Rivera, 22 September 2022
See also:
Penske Corporation, Inc. is an American diversified on-highway,
transportation services company whose subsidiaries operate in a variety of
industry segments, including retail automotive, truck leasing, transportation
logistics and professional motorsports company based in Bloomfield Township,
Oakland County, MI. It was
established on December 1, 1969 by Roger Penske.
In 1964, Penske started
as General Manager of the McKean Chevrolet dealership in Philadelphia. Having
won the NASCAR Grand National in 1965, Penske retired from racing and bought
the dealership. Later on, the company acquired Competition Tire East and
Competition Tire West, and a small truck leasing operation (later called
Penske Leasing). He returned to the sport in 1966 as the owner of Team
Penske.
In 1982 together with Hertz Truck
Division form Hertz-Penske Truck Leasing, with Hertz exiting in 1988 and
Penske buying the former's stake in June, and two months later in August,
entering into a joint venture with GE Capital pursuant to which GE
contributed its Gelco Truck Leasing business, and the parties formed Penske
Truck Leasing Co., L.P., GE's stake later being acquired by Mitsui & Co.,
Ltd. in 2015.
In 1986 it acquired Leaseway Transportation Corp. (other
sources mention 1995, probably when it was fully owned).
In 1996 the
company (encompassing the Pennsylvania, California, and Michigan racetracks,
as well as the corporation's two Competition Tire businesses) went public as
Penske Motorsports, Inc. in 1996.
In 1998 it acquired Transportgroep van
der Graaf as well as Cotia Trading (the latter finalized in 2005).
It
2000 acquired Rentway Ltd.
In 2001 it acquired Rollins Truck Leasing.
In 2004 it acquired the full-service truck leasing, rental, maintenance
and logistics operations of AMI Leasing from Ford Motor Credit.
In
2005 it acquired Victory Express (finalized in 2007).
In 2010 it acquired
Bright Truck Leasing and Distribution.
In 2017 it acquired Old Dominion
Truck Leasing.
In 2018 it acquires Epes Transport System.
In 2021
it acquires Rapid Ways Truck Leasing and Inc. DeCarolis Truck Rental, Inc.
The flag is a white
horizontal background with the logo in the middle.
Images attached:
-
us$pen).jpg (logo) (copied image from the original located here:
https://www.gopenske.com/ )
- us$pen.jpg (flag) (copied image from the
original located here:
https://www.gopenske.com/why-penske )
For
additional information go to Penske (official website): https://www.penske.com/
Esteban Rivera, 22 September 2022