Market moves: Industry M&A activity hits slowest pace in years

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Updated Oct 31, 2022
Mergers and acquisitions roundup

Fall continued to be the slowest stretch for industry mergers and acquisitions in several years in the dealer, aftermarket and supplier space.

Only three acquisitions were announced. Two in the independent parts and service space and one manufacturer.

FleetPride was the first company to announce and finalize a transaction. The company announced on Oct. 18, it had added Best Deal Spring & Truck Parts, a third-generation family-owned business with locations in Salt Lake City, St. George, Price, Vernal and Payson, Utah. "The team has a 65-year history of excellence in customer service, and we look forward to continuing this legacy throughout Utah and the western U.S., further strengthening our parts supply distribution and growing service offering," says Mike Harris, senior vice president of sales and operations. 

The other aftermarket acquisition was Epika Fleet Services, which acquired Fleet Mobile Maintenance, based in Detroit. The acquisition strengthens Epika's presence in the Midwest while expanding its mobile service offering for commercial fleet partners. "Fleet Mobile Maintenance joining the Epika network is a major step in expanding our mobile services into the northern United States," says Joe Dougherty, CEO, Epika Fleet Services.  "Fleets of all sizes will benefit from the dedicated and passionate leadership team of FMM."

October's final announcement was Hilltip reporting on Oct. 31, it had acquired Industrial Metal Products, an Indiana-based manufacturer of truck beds and other quality metal products. “We are now able to manufacture all our industry leading products in the United States and distribute throughout North America,” said Craig Sandmann, managing director, Hilltip North America. “This includes our complete line of spreaders, sprayers and brooms, as well as established Hilltip products lines we have yet to offer domestically.”

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