Business transaction activity was notably slow in May, as it seemed the M&A space took on the sluggishness seen in the freight and equipment markets compared to slightly busier April.
The first move of the month was Floyd's Truck Center, which announced May 1 its purchase of Nebraska Truck Center, a central Nebraska Freightliner and Western Star dealership with three locations. “This acquisition creates exciting opportunities for both Floyd's customers and those of Nebraska Truck Center," said Michael Gillam, vice president of sales at Floyd's. "By integrating NTC into our network, we're extending our reach and continuing to provide the dependable support our customers rely on.”
Next was the Merritt family of companies, which on May 8 acquired Magnum Trailer & Equipment, a respected British Columbia, Canada-based company with three divisions: truck accessories; trailer manufacturing; and service. “This acquisition reinforces our strategic vision to deliver the best aluminum products in the market by combining the strengths of both organizations,” says Taylor Merritt, CEO of Merritt Companies. “It’s about creating more value for our customers, expanding innovation, and honoring the shared values that make both companies successful.”
