Rihm Family Companies celebrates anniversary with acquisition

One of the oldest Kenworth dealers in the world, Rihm Family Companies, Inc. (RFC), has kicked off its 85th year in business by acquiring LTX, Inc., owner of Lawrence Leasing, Inc., and operator of Lawrence NationaLease—a commercial truck leasing company with 15 locations in Minnesota, Wisconsin and South Dakota.

RFC also announces it plans to build new Kenworth dealership facilities in South St. Paul and Coon Rapids, Minn.

“Since 1932, the Rihm family has provided great jobs and exceptional customer service in Minnesota and western Wisconsin,” says Kari Rihm, president and CEO of RFC. “We’re pleased to begin our 85th year in business by welcoming Lawrence NationaLease’s high-caliber employees and management; providing better security for all of our employees; and improving service and offerings for our loyal customers. Our company’s future is very bright.”  

As a result of the acquisition, RFC’s workforce will total more than 300 employees and operate at 21 locations in Minnesota, Wisconsin and South Dakota. As part of the deal, RFC also acquires more than 1,000 full-service lease and rental units and an additional 600 units under contract maintenance agreements, the company says.

“Like Rihm, Lawrence NationaLease has been family-owned and operated for multiple generations, and is a leader with a trusted legacy in the truck leasing and rental market,” says Steve Lawrence, former CEO of Lawrence NationaLease. “Our employees and assets are in extremely capable hands under the leadership of Kari Rihm and her family. This acquisition is a win-win for both of our companies.”