Rush Enterprises and MCT Companies, one of the largest Carrier Transicold dealers in the U.S., signed a joint venture deal on Thursday.
Each company will own 50% of the new venture. It will operate MCT Companies' network of truck, trailer, rail refrigeration and auxiliary power unite dealerships. Bill Willett will be CEO and president of the new organization, which will be called MCT Holdings.
[RELATED: Rush acquires Louisiana-based dealer group]
"This joint venture represents an important step in Rush Enterprises' strategy to expand our presence in adjacent segments of the commercial vehicle market while delivering even greater value to our customers," says W.M. "Rusty" Rush, chairman, CEO and president of Rush Enterprises. "Bill Willett and the MCT team have built a successful and respected Carrier Transicold dealership network and we are excited to partner with them to continue building on that success."
[RELATED: Rush Truck Centres acquires five Ontario locations]
MCT operates 17 Carrier Transicold full-service dealerships and three mobile service locations.
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"We are excited to partner with Rush Enterprises, the largest truck dealer in North America," Willett says. "This joint venture provides us with access to additional capital and operational resources that will help accelerate our long-term growth strategy. Most importantly, it will enable us to better serve our customers by expanding our service capabilities, investing in our facilities and technicians, and delivering the responsiveness and uptime they depend on to keep their refrigerated fleets operating."
Rush has more than 160 locations in North America. It does not to intend to consolidate the new venture with any other operating segment, it says.
"By combining both Rush Enterprises' and MCT's technology, operating system and scale with MCT Companies' deep operational expertise, we believe this joint venture will strengthen our ability to support refrigerated transportation customers and position the joint venture will strengthen our ability to support refrigerated transportation customers and position the joint venture for continued growth."
