Rush Enterprises’ subsidiary and Tallman Group will each own 50 percent of the new joint venture entity, which will operate Tallman Group’s network of commercial vehicle dealerships in Canada.
The joint venture will be named Rush Truck Centres of Canada Limited and will be led by Tallman Group CEO Kevin G. Tallman as CEO, and Roger Poirier as president. The formation of the joint venture is subject to customary closing conditions and is expected to close Feb. 25, 2019. Rush Enterprises does not intend to consolidate the joint venture as part of its Truck Segment for financial reporting purposes.
“I am extremely excited to announce Rush Enterprises’ joint venture with Tallman Group,” says W.M. “Rusty” Rush, chairman, CEO and President, Rush Enterprises. “The Tallman family has built a successful and respected International Truck dealership network in Ontario, which is consistently recognized as one of the best performing International Truck dealership groups in North America. We believe this joint venture will provide customers with best-in-class service by combining the advanced operating systems developed by Rush Enterprises with the operational abilities of the Tallman Group.”
Tallman Group owns and operates a network of 14 International Truck full-service dealerships throughout the Province of Ontario including four locations in the Toronto area. Tallman Group achieved revenues of CAD $370 million and delivered nearly 2,000 trucks in 2018, according to the companies.
“We are excited to partner with Rush Enterprises, the largest and most successful truck dealer in North America. This joint venture will give our company access to capital and industry-leading technology, which will be leveraged to accelerate our strategic initiatives within Canada. This joint venture will also provide our cross-border transportation customers with access to the largest and most comprehensive commercial vehicle service network in the United States,” Tallman says. “We look forward to working with Rush Enterprises’ leadership team and are excited that this joint venture will enable us to make the investments required to better serve our customers.”
