Home > Newsroom > Press Releases > 2003 > AmeriQuest Acquires AMTRALEASE (American Truck Leasing Network, Inc.) In Unanimous Board of Trustee Vote

PRESS RELEASE

AmeriQuest Acquires AMTRALEASE (American Truck Leasing Network, Inc.) In Unanimous Board of Trustee Vote

CHERRY HILL, NJ — AmeriQuest® is pleased to announce that the Board of Trustees of AMTRALEASE (American Truck Leasing Network, Inc.), a leading truck rental and leasing association, have unanimously agreed to be acquired by AmeriQuest® Transportation and Logistics Resources Corp., a "for-profit company", provides the highest level of service and "Participant" benefits, inclusive of technology, group purchasing, national sales and marketing. The company was created for the joint benefit of its participating truck rental and leasing companies and shareholders. Since its founding, AmeriQuest has shown consistent profitability and exponential growth.

"We saw the changes and consolidation coming to our industry. There had to be a way for independent truck leasing and rental companies to compete in an environment where two or three major players would ultimately dominate the marketplace. Independents provide flexibility and tremendous service levels that larger companies cannot match", said Doug Clark, President and CEO, AmeriQuest.

AmeriQuest has taken the most successful ingredients of several business models and created an entirely new way of doing business for independent truck leasing and rental companies. The new business model was granted a U.S. Patent on February 26, 2002, patent number 6,351,738.

For several years, both AmeriQuest and AMTRALEASE operated autonomously, while providing exclusive services, ranging from procurement to National Sales initiatives. Throughout this time, AmeriQuest continued building its service offerings and participant base within the transportation sector, servicing additional industry sectors such as For-Hire Carriers and Private Fleet Operators.

AmeriQuest has continued to build its service offerings with its acquisition of FleetXchange, an online transportation information and communication portal, and Corcentric, a highly successful E-Commerce company.

"AMTRALEASE served its members well for 23 years, but in a consolidating industry, we saw that the time was right to complete our vision of a unified national transportation and logistics company that would satisfy the needs of our membership, while providing the highest level of resources, national sales opportunities and a competitive edge in our individual market places," said Jerry Kress, Chairman of AMTRALEASE.

About AmeriQuest Transportation Services
AmeriQuest is a leading provider of comprehensive fleet management services. By leveraging the strength of over 700,000 vehicles, AmeriQuest delivers savings, expertise, and opportunities to its private fleet and truckload carrier members. AmeriQuest provides supply management services, asset management services, financing, technology products, and outsourced transportation management services such as full service leasing, integrated logistics, and contract maintenance. More information can be found at ameriquestcorp.com.