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A London trucking business has been snapped up by a U.S. automotive group.
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TEAM Truck Centres in London, which operates four truck dealerships in Ontario selling medium- and heavy-duty trucks, has been bought by Penske Automotive Group. TEAM has been added to Penske’s subsidiary, Premier Truck Group.
“We are thrilled to welcome TEAM Truck Centres to Premier Truck Group,” said PTG President Richard Shearing. “These new locations are complementary to our existing locations in Ontario, improve our scalability, and increase our ability to service trucks.”
TEAM Truck has been in business 45 years and has been one of the largest truck dealerships in Canada. It sells medium- and heavy-duty Freightliner and Western Star commercial trucks.
It has four locations: London, Cambridge, Sarnia and Windsor.
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The purchase gives Penske 41 North American commercial truck locations in Texas, Oklahoma, Oregon, Tennessee, Georgia, Kansas, Missouri, Utah, Idaho and Ontario.
Those sites generate nearly $3 billion in gross annual revenue and the local TEAM centres will add about $150 million, Penske officials say.
Penske, headquartered in Bloomfield Hills, Michigan, operates dealerships in the United States, United Kingdom, Germany, Italy, and Japan and is the largest retailer of commercial trucks in North America for Freightliner. It’s a Fortune 500 company.
Premier Truck Group is headquartered in Dallas, Texas.
https://lfpress.com/news/local-news/london-based-truck-dealership-sold-in-automotive-mega-deal
