Rush Enterprises, Inc., which operates the largest network of commercial vehicle dealerships in North America, announced that its subsidiaries have acquired certain assets of Piedmont International Trucks, which operates commercial truck dealerships in N.C. The acquisition includes International and Idealease franchises and locations in Asheville, Hickory and Statesville, N.C.
The purchase price for the assets, goodwill and the dealership properties that were purchased was approximately $3.5 million. The Company expects the acquisition to be accretive to future earnings.
The newly acquired locations in North Carolina will operate as part of the Company's Navistar Division and result in the Company operating 81 Rush Truck Centers in 15 states. The acquisition also expands the Company's Rush Truck Leasing capabilities.
"Acquiring additional service points in North Carolina demonstrates our commitment to expand service solutions for our customers wherever they operate," said W. M. "Rusty" Rush, the Company's CEO and president. "We are pleased to support customers in North Carolina with International and Idealease brands and to grow our Navistar Division to 28 full-service dealerships."
"We are happy to welcome the employees of Piedmont International Trucks to the Rush organization," concluded Rusty Rush.
Rush Enterprises, Inc. is the premier solutions provider to the North American commercial vehicle industry. The Company owns and operates the largest network of commercial vehicle dealerships in...
National network is expanded to a total of 78 locations.
The acquisition includes International commercial truck dealerships and Idealease commercial vehicle rental and leasing businesses.
The acquisition expands the company's Rush Truck Center commercial vehicle dealership network to 70 locations in 14 states.