July was another slow month for transactions in the trucking dealer, aftermarket and supplier sectors — a downturn after a slight uptick in activity in June.
The aftermarket in particular continues to see little to no activity.
The first move of the month was Trailer Equipment acquiring All Star Equipment, known for supplying high-quality tanker trailers, service and parts to the West Michigan market. Trailer Equipment said the acquisition marks a significant milestone in its growth strategy, allowing the company to better serve customers and community with the tanker equipment they need. With this merger, Trailer Equipment will now now offer LBT tankers and become a full parts and service dealer.
Next came The Integration Group (TIG), which acquired Matrix Management on July 15. Matrix is a Chicago-based provider of aftermarket assembly, kitting and e-commerce fulfillment solutions. "We are thrilled to welcome Matrix and its employees to TIG," said Mike Schoenfeld, CEO of TIG. "Matrix brings exceptional expertise and aligns very well with our commitment to customer service and operational excellence. This acquisition is key to advancing our mission to bring high value-added supply chain solutions to our clients."
The month closed with a sale, as Westport announced on July 29 the closing of the sale of its Light-Duty segment to Heliaca Investments Coöperatief U.A., a Netherlands based investment firm. “The successful completion of the disposition of our Light-Duty segment marks a pivotal step in strengthening our balance sheet,” said Dan Sceli, CEO of Westport Fuel Systems. “It allows Westport to sharpen our focus on the larger, higher-growth opportunities ahead, including providing the most economical solutions for heavier duty and high horse power commercial mobility and industrial applications.”
