Market moves: Dealers busy expanding in October

Mergers and acquisitions roundup

After a slow September, transactions picked up in pase in October. Dealers were the most active, though the aftermarket and supplier sectors also saw a few acquisitions by growing players.

The month started with the announcement that K. Neal Truck and Bus Center has acquired Powell's Truck & Equipment Inc. of Lynchburg, Va. “We would like to thank the Powell Family for building this company over the last 60 years with an incredible team of talented individuals, strong OEM relationships, and best-in-class customer experience,” said Korey Neal Sr., President of K. Neal Truck and Bus Center. “We are excited to align with a family-based company that shares our values to employees, customers and the community as much as we do.”

Hendrickson made news on the same day, acquiring Brunner International, a privately owned business that manufactures components for the commercial vehicle, bus and trailer markets. “We are excited about this acquisition, as it will provide a platform for Hendrickson to expand our core competency in braking and provide additional components that will enhance our existing product portfolio. We look forward to working with our new associates and strengthening our business serving the commercial truck and trailer industry,” said Matt Joy, president and CEO of Hendrickson.

The next day, FleetPride announced its acquisition of Raney's Truck Parts' location in Ocala, Fla. "We are delighted to welcome the Raney's Truck Center team to the FleetPride family," said Mike Harris, FleetPride president of parts and service. "This acquisition aligns seamlessly with our growth strategy, enabling us to better serve our valued customers in Florida and beyond. As we continue expanding our footprint to support customers where they need us, we remain committed to maintaining the exceptional service and support that FleetPride and Raney's Truck Center are known for."

Another dealer followed. McMahon Truck Centers announced it had acquired Andy Mohr Truck Center of Indianapolis, Ind., on Oct. 13. "We are thrilled to welcome the many new associates of Andy Mohr Truck Center into to the McMahon Truck Center family,” says Mike McMahon, CEO and co-owner of McMahon Truck Centers. "It is a wonderful fit and we look forward to continuing the success of Volvo in Indiana. Our future is brighter because of the new team members and customers in the region.”

Next was a trailer dealer transaction. Atlantic Utility Trailer acquired Utility Trailer Sales of New Jersey, Utility Trailer announced Oct. 17. With the acquisition, Atlantic will expand into north New Jersey, the metro New York area and Long Island. Tom Barton, CEO of Atlantic Trailer, and Spencer Kiernan, CFO and COO, will continue their roles, overseeing the combined business. "Atlantic leadership extends a warm welcome to the Dwyer family and the entire Utility Trailer Sales of New Jersey team as we start this new chapter together," Barton said. 

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