Big changes were announced within the International Truck dealer network Wednesday.
Summit Truck Group has agreed to sell all of its commercial vehicle dealership assets to subsidiaries of Rush Enterprises Inc., and, in turn, Summit, Rush and Navistar have mutually agreed to allow current Summit CEO Justin Fink, in partnership with Southwest International and Kyrish Truck Centers, to purchase Summit's dealership locations in Oklahoma and its AOR around Wichita Falls, Texas. Rush states the organizations entered into agreement on Sept. 7, and expect the transaction to close in December.
These moves will add 19 locations to the Rush Truck Center dealer network. Additionally, the newly formed dealer group led by Fink as CEO and dealer principal will be branded Peak Truck and Trailer.
Peak Truck and Trailer will begin with four dealerships and one parts and service location and, over a period of two to three years, Peak Truck and Trailer, Southwest International, and Kyrish Truck Centers intend to merge their respective dealerships into one single business and dealer group serving Texas and Oklahoma. This group will eventually include more than 20 locations.
The synergies and opportunities provided by this larger enterprise will be important for the employees of all the concerned entities as Peak Truck and Trailer continues to face larger competitive dealer groups, the group says.
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“The decision to form the new International Truck and IC Bus dealership group Peak Truck and Trailer will be invaluable to regional customers in Oklahoma and Texas,” says Mark Belisle, group vice president, Dealer Sales and Operations, Navistar. “The eventual merger of these dealerships will create a powerhouse in the south — attracting the highest quality talent and utilizing resources to provide best-in-class service and support.”
Summit, Southwest International and Kyrish Truck Centers have owned and operated a business together over the past five years called Peak Trailer Group, primarily a Wabash trailer dealership group with locations in Dallas, San Antonio and El Paso, Texas.
The ownership structure of Peak Trailer also is changing as a result of these moves, as Summit is planning to divest its ownership to existing owners Southwest International, Kyrish and Justin Fink. Bobby Briggs, current president of Peak Trailer Group, has been appointed to CEO.