Several truck dealer transactions bolstered a strong month of mergers and acquisitions activity.
Bruckner’s expands dealer network in Northwest
Bruckner’s Truck & Equipment expanded into Idaho and Montana and further into Washington through the acquisition of Transport Equipment Inc. (TEI) for an undisclosed amount, according to a Feb. 24 release.
The deal adds Missoula, Mont.-based TEI’s locations in Lewiston, Idaho; Missoula, Mont.; and Spokane, Wash., to Bruckner’s network, according to the release. Founded in 1983 by Steve and Betty Bidlake, TEI grew from a Timpte Trailer dealership into a full-service truck sales and service provider.
The acquisition provides TEI customers with access to an expanded inventory of Mack and Volvo trucks, trailers and parts, along with enhanced service offerings.
Bruckner’s, founded in 1932 and based in Amarillo, Texas, now operates 41 locations across 10 states in the Southwest and Pacific Northwest, according to the release.
Nuss Truck & Equipment expands to southeast Missouri
Nuss Truck & Equipment has acquired Trucks Inc., a Volvo Truck dealership in Sikeston, Mo., according to a Feb. 10 Nuss release.
This move enhances service availability for customers in southeast Missouri, southern Illinois and western Kentucky, according to the release. The acquisition was for an undisclosed amount.
Trucks Inc. has been a Volvo Trucks North America dealership for more than 30 years, earning multiple Volvo Dealer Performance Awards, according to the release.
The dealership will offer new and used truck sales, full-service maintenance and repairs, expanded parts inventory, and financing and leasing options, according to the release. With this acquisition, Nuss operates 10 locations across Minnesota, Wisconsin and Missouri.
Thompson Truck & Trailer joins Ascendance Truck Centers
Thompson Truck & Trailer has been acquired by Ascendance Truck Centers for an undisclosed amount after 25 years as a family-owned dealership, according to a Feb. 13 Thompson Truck & Trailer release.
Boca Raton, Fla.-based Ascendance operates in 10 states, according to the release. The deal includes 145 employees across Cedar Rapids, Iowa-based Thompson’s five International dealerships in Iowa and Illinois, as well as the Thompson Body Shop and Thompson Trailer Shop in Cedar Rapids.
Thompson Tire & Retread’s 3 locations are not part of the sale and will continue operating independently, according to the release.
Premier Equipment acquires W.J. Heaslip Ltd.
Premier Equipment, a multistore Canadian John Deere dealer, announced the acquisition of Hagersville, Ontario-based W.J. Heaslip, according to a Feb. 14 Premier release.
The acquisition expands Premier’s service coverage in Brant and Haldimand, Ontario counties, according to the release. The acquisition was for an undisclosed amount.
W.J. Heaslip has served farm and rural customers since the 1940s and has been a John Deere dealer since 1986, according to the release.
The Hagersville location will become Premier’s 10th dealership, increasing its workforce to more than 375 employees, according to the release. Operations are set to transition on April 14, pending final approvals and due diligence. Rob Heaslip, president of W.J. Heaslip, will join Premier to oversee the transition and continue managing operations.
One Community Bank to merge with Intercity State Bank
One Community Bank (OCB) will merge with Intercity State Bank, according to a Jan. 31 OCB release.
The two banks have a longstanding relationship, with Oregon, Wis.-based OCB President and CEO Steve Peotter serving on Schofield, Wis.-based Intercity’s board of directors for a decade, according to the release. They have also collaborated on major projects in the Wausau, Wis., area.
The banks share the same ownership group, further strengthening their connection, according to the release. Both divisions operate in the equipment finance space.
Following the merger, Intercity’s three locations in Schofield, Weston and Wausau will become OCB branches, and all employees will retain their positions, according to the release.
The transition aligns with the planned retirement of Intercity President and CEO Randy Balk after more than 40 years with the bank, according to the release. Chris Pfender, Intercity’s executive vice president, will become regional president. The merger, pending regulatory approval, is expected to be finalized this year.
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