The start of the second quarter didn't seem to spur business transaction activity in the dealer, aftermarket and supplier sectors in April.
Like March, just a handful of acquisitions were announced this month, spread mostly equal across the channels.
The month began with Thompson Truck Group, a division of Thompson Distribution, announcing its acquisition of the Lee-Smith dealer group. “We are thrilled to welcome the Lee-Smith team into the Thompson Truck Group family,” said John Thompson, owner and CEO of Thompson Truck Group. “This acquisition represents more than just growth — it’s about bringing together two organizations with a shared commitment to delivering exceptional service to its customers, meaningful careers for its employees and lasting relationships with its OEM partners.”
Next was The Service Company, a 2024 TPS Distributor of the Year finalist, announcing its purchase of Foster's Truck and Trailer, a repair center in Columbus, Ohio. The move expanded The Service Company's footprint to five locations. "This transaction is a great example of how the right partnership can create long-term value," said Ryan Binkley, CEO of Generational Group, the mergers and acquisitions advisory firm who helped with the deal. "We're proud to have been part of this journey and look forward to seeing the continued success of both parties."
Also in the service sector was the sell of Epika Fleet Services to Ares Private Equity fund. Epika provides outsourced fleet maintenance solutions and specializes in mobile service. "With Trivest's partnership, we were able to accelerate our growth and scale Epika into a truly differentiated platform," said Joe Dougherty, CEO of Epika. "Their strategic support was instrumental in expanding our technician network, investing in technology and enhancing operations — while maintaining our commitment to exceptional customer service."
Following was Trillium Energy Solutions, a member of the Love's family of companies, acquiring 41 CNG stations from U.S. Energy. “This network expansion reinforces Trillium’s and Love’s commitment to providing every fuel type our customers need,” said Ryan Erickson, vice president of Trillium. “We have recently seen an increased interest in CNG as a clean alternative fuel from both our private sector fleet and trucking customers. Adding these stations grows our network quite significantly, which unlocks more value and access for customers.”
The month closed with Lippert Components, a subsidiary of LCI Industries, acquiring Freedman Seating Company, expanding its bus and transportation sector capabilities. "We are pleased to welcome the Freedman team to the Lippert family," said Ryan Smith, group president of Lippert's North American OEM Operations. "We're excited to add Freedman's seating line to our growing portfolio of bus and transportation vehicle products with our combined leadership teams we will be able to offer a better-than-ever customer experience to our partners in these industries."
