Penske Automotive Group acquires TEAM Truck Centres
by CM Staff
TEAM adds four full-service dealerships in Ontario (Cambridge, London, Sarnia, Windsor) to Premier Truck Group's existing operations.
BLOOMFIELD HILLS — Penske Automotive Group, Inc., a diversified international transportation services company, announced that it has acquired Ontario-based TEAM Truck Centres, a retailer of medium and heavy-duty Freightliner and Western Star commercial trucks. The acquisition is expected to generate approximately $150 million in annualized revenue, building further scale within the Company’s wholly-owned Premier Truck Group subsidiary.
TEAM has been operating in southwest Ontario, Canada for years and is a commercial truck dealership in Canada. TEAM adds four full-service dealerships in Ontario (Cambridge, London, Sarnia, Windsor) to Premier Truck Group’s existing operations, bringing the company’s commercial truck dealership operations to eleven locations in Canada. Commenting on the acquisition, PTG President Richard Shearing said, “We are thrilled to welcome TEAM Truck Centres to Premier Truck Group. These new locations are complementary to our existing locations in Ontario, improve our scalability, and increase our ability to service trucks remotely through TEAM Truck Centres mobile product support vehicles.”
PTG now operates forty-one (41) North American commercial truck locations in Texas, Oklahoma, Oregon, Tennessee, Georgia, Kansas, Missouri, Utah, Idaho and Ontario, Canada, which generate nearly $3 billion in aggregate annual revenue.