Penske Automotive Group Acquires Commercial Truck Dealerships In Canada
6 June 2023
Penske Automotive Group, Inc.a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, today announced that it has acquired Transolutions Truck Centres ("TSTC"), a retailer of medium and heavy-duty commercial trucks and buses, located in Winnipeg, Manitoba, Canada. With this acquisition, Premier Truck Group, the Company's wholly-owned commercial truck subsidiary, continues to expand and complement its operations in Canada by establishing a presence in an additional Canadian province.
TSTC consists of five locations throughout the greater Winnipeg market, including three full-service dealerships and two parts & service centers. TSTC sells and services Freightliner Trucks, Western Star Trucks and Thomas Built Buses, and is the licensed dealer for SelecTrucks, Daimler Truck's used vehicle brand, for the entire territory of Manitoba. The TSTC acquisition is expected to add 73 service bays, 59 technicians and approximately 200 new members to the Premier Truck Group team. The acquisition is expected to generate approximately $180 million in annualized revenue. With the inclusion of the TSTC facilities, Premier Truck Group now operates 44 locations throughout North America.
Commenting on the acquisition, Premier Truck Group President Ron Long said, "We are thrilled to expand our North American presence with the Freightliner, Western Star and Thomas Built Bus brands. For more than 30 years, Transolutions Truck Centers has built a strong legacy of providing quality service to customers across Manitoba. We look forward to continuing their legacy and welcome TSTC to the Premier Truck Group team."