With a new year came a slight slow down in transactions across trucking's dealer, aftermarket and supplier sectors.
The dealer industry, which was increasingly active throughout last year, was again the busiest segment of the market in January.
The month started with Baltimore Potomac Truck Centers' announcement of its purchase TMI Truck & Equipment, which consists of two stores in Chesapeake and Norfolk, Va. “It has been an exciting journey during the acquisition process and my father, brother, and I are looking forward to continuing the legacy that John and Richard have built,“ said Mark Parker, president and CEO of Baltimore Potomac Truck Centers. “The Parker and Doub families have known each other for decades and the combination of our two companies will ensure a stronger opportunity to provide top tier service to our customers.”
On Jan. 9 Multi Parts was next, acquiring American Chrome Company, a distributor of chrome wheel accessories for heavy-duty trucks. It supplies OEMs and others in the heavy-duty truck and trailer markets with both aftermarket and production parts and accessories. Multi Parts is a developer and provider of aftermarket parts to suppliers and global brands. "This is a great day for everyone at ACC," said Linda Hou, president of ACC. "MPS' best-in-class ability to engineer mechanical, electrical and electronic parts for every vehicle type is going to supercharge our ability to bring new products and services to our customers."
Vanguard Truck Centers followed on Jan. 10, announcing the acquisition of Nacarato Truck Centers — a move that will make Vanguard one of the largest Volvo dealer groups in North America. “We are thrilled to welcome Nacarato Truck Centers to the Vanguard team,” said Tom Ewing, Vanguard president and CEO. “I have been friends with Mike Nacarato and his team for many years, and I have a tremendous respect for the platform they’ve built. We are grateful for Mike’s trust in Vanguard to steward his company moving forward, something we do not take lightly.”
Next was Pressure Systems International (PSI), which announced the formal merger with TST, which the company had first acquired in 2018. Jim Sharkey will serve as president of combined organization. “This structural change will improve our ability to support our customers while bolstering the available resources to continue our growth. We remain committed to our OEM and end-user customers in the RV market under the ‘TST’ brand,” says Tim Musgrave, CEO at PSI.
On Jan. 17, DexKo Global reported its acquisition of Cerka Industries Ltd. Cerka specializes in manufacturing trailer axles and distributing trailer components to dealers and OEMs across Canada. "We are energized by the growth opportunity that comes with the addition of Cerka," said Fred Bentley, CEO of DexKo Global. "We continue to focus our strategies to grow our specialty distribution business and increase our reach in Canada, improving our ability to service dealer and OEM customers. Bringing the knowledgeable Cerka team to Dexter was a seamless and meaningful addition to our portfolio."
The month ended with Forest River Bus announcing the acquisition of Collins Bus, one of America's oldest and most successful school bus builders. “The addition of Collins Bus to the Forest River Bus family highlights another milestone in our overall growth and leadership,” says Pete Liegl, president and CEO of Forest River. “The performance of our Bus and Van division is a shining star for Forest River, and this acquisition raises an already high bar.”
