K. Neal Truck and Bus Center Acquires Powell's Truck & Equipment, Inc.
October 2, 2023
K. Neal Truck and Bus Center, a family-owned multi-location commercial truck and bus dealership, has acquired Powell's Truck & Equipment, Inc. of Lynchburg, Virginia from Reggie and Steve Powell. The acquisition adds Powell's single-location dealership and rental/leasing division to K. Neal's footprint across the Washington, D.C., Maryland and Virginia markets, expanding service, parts and sales capabilities for medium- and heavy-duty commercial fleets.
- Buyers
- K. Neal Truck and Bus Center
- Targets
- Powell's Truck & Equipment, Inc.
- Sellers
- Reggie Powell, Steve Powell
- Industry
- Trucking & Fleet
- Location
- Virginia, United States
- Transaction Type
- Buyout
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