Fleet Brake to sell certain assets to FleetPride

Fleet Brake USA, LLC announces an agreement in principle has been reached with an affiliate of FleetPride, Inc. to sell the certain assets in Utah and Idaho that were recently acquired by Fleet Brake. The sale is pursuant to a court order issued by the District Court for the Third Judicial District in Salt Lake County and for Salt Lake County, State of Utah and a definitive agreement signed by the state appointed receiver.

It is intended by the parties that the conditional agreement will be superseded by a formal definitive agreement, with closure expected in the next few days.

After extensive diligence by Fleet Brake, a decision was made that was in the best interests of the staff and families of the former Page Brake, the company says. This result will allow Fleet Brake to continue to focus on its Canadian service and distribution strategy.

“After a successful and busy week at HDAW, I made the decision to concentrate on our strategic plan in Canada and we wish the former employees of Page Brake the best in the new operations,” says John Bzeta, president of Fleet Brake.