Pollock acquires Tiger Lease for $90 million in bid to create national leasing network

STRATHROY, Ont. (Oct. 12, 2001) — Pollock NationaLease said it has acquired Tiger Lease for $90 million, creating one of Canada’s largest full-service truck and trailer leasing companies and the largest under Canadian ownership.

The acquisition effectively doubles the size of Pollock, based in Strathroy, Ont. The company will have annual sales of $60 million and a leasing and rental fleet of 4000 vehicles; Tiger Lease assets, locations, and employees will be folded into Pollock’s operations.

Tiger, based in Baden, Ont., has five locations, including offices in Calgary and Moncton, but its business is concentrated in the trucking-rich market west of metropolitan Toronto. Adding Tiger will give Pollock the largest market share from Windsor to Mississauga, said company president Doug Davis.

“We’re looking for other opportunities to grow our network coast-to-coast,” Davis said. “We see a real need in the marketplace for a national equipment leasing and fleet management operation. We can be a lot more nimble than larger companies that operate in Canada but make decisions from offices in the United States.”

Pollock is affiliated with National Truck Leasing Service, the largest member-owned system of inter-dependent, full-service truck leasing companies in North America.