Trucking & Fleet Acquisitions in 2022

Great Western Trailer (GWT) has acquired Southwest Trailer & Equipment, LLC, adding the company's Oklahoma City and Tulsa facilities to GWT's dealership network. The acquisition expands GWT's footprint into the Southwest and will allow GWT to extend its finance, leasing and rental offerings and after-market services to the added locations.

Heritage Transport, part of Heritage Environmental Services, acquired Frank's Vacuum Truck Service (FVTS), a Niagara Falls, New York-based vacuum truck and hazardous/non-hazardous waste transportation provider. The deal adds roughly 150 trucks/trailers and about 60 employees, expanding Heritage's trucking capacity and establishing a transportation hub to better serve Western New York and customers across the Midwest and Eastern U.S.

FleetPride, the nation's largest distributor of truck and trailer parts and services, has acquired the assets of Berggren Diesel, a family-owned heavy-duty truck service operator with locations in Idaho Falls and Terreton, Idaho. The deal expands FleetPride's service footprint in Idaho and western Wyoming and brings Berggren's technicians and support staff into FleetPride's national parts and service network.

FleetPride, Inc. has acquired the assets of Harland Diesel Service, Inc., a full-service diesel shop in Ponca City, Oklahoma with 14 bays that has served the industry since 1979. The acquisition expands FleetPride's heavy-duty parts and service footprint in the region and is the company's eleventh acquisition of the year.

P&S Transportation, a subsidiary of PS Logistics, acquired Clay's Transport, Inc. and its sister brokerage Clays Logistics LLC from Reed Capital Investors and James Waldrop. The deal, which closed October 31, 2022, adds a Mississippi terminal, drivers and freight-brokerage capabilities to PS Logistics' national flatbed and multi-modal network.

FleetPride, the nation's largest distributor of heavy-duty truck and trailer parts, has acquired the assets of Best Deal Spring & Truck Parts, a third-generation, family-owned parts and service provider in Utah. The acquisition expands FleetPride's parts inventory and service capabilities across Utah (locations include Salt Lake City, St. George, Price, Vernal and Payson) and integrates Best Deal’s existing team and service centers into FleetPride's national network.

FleetPride, the nation's largest distributor of heavy-duty truck and trailer parts and services, has acquired the assets of Sam & Sons Truck Equipment of Houston from the Olivo family. The acquisition adds a 26,000-square-foot location with specialized liftgate repair and an onsite 100-foot paint booth, expands FleetPride's Houston footprint and preserves roles for the site's 35+ local employees.

Thompson Distribution of Nashville, Tennessee has acquired Landmark Trucks, a Knoxville-based authorized International truck dealership with locations in Knoxville, Morristown, and Cookeville. The acquisition expands Thompson's portfolio of dealership and distribution businesses, adding sales, leasing/rental and a service capability that complements existing premium brands represented by Thompson companies.

FleetPride, the nation’s largest distributor of heavy-duty truck and trailer parts, acquired the assets of L&L Distributors (owned by Raymond Marchesiello), adding three Florida locations and 48 employees to its network. The acquisition expands FleetPride’s South Florida footprint and gives L&L customers access to FleetPride’s broader purchasing power and service capabilities.

Fastfrate Group completed a majority acquisition of Challenger Group (Challenger Motor Freight) following Competition Bureau Canada approval, expanding Fastfrate's network across Canada and into the United States. Challenger will continue to operate independently under incoming CEO Jim Peeples while Fastfrate maintains existing management and staff.

GIC, OMERS Infrastructure and Wren House have signed an agreement to acquire Direct ChassisLink Inc. (DCLI) from investment funds managed by Apollo and EQT. DCLI, a leading U.S. intermodal chassis lessor headquartered in Charlotte, North Carolina with ~410 employees and a fleet of over 151,000 marine and 100,000 domestic chassis, will be owned by the consortium; terms were not disclosed and the transaction is expected to close in H2 2022.

Velocity Vehicle Group (VVG) has completed the acquisition of Eagers Automotive Limited's Daimler Truck and Bus dealerships across Australia. The acquired business — representing Mercedes-Benz, Freightliner and Fuso commercial vehicles — employs about 650 people across metropolitan and regional locations including Brisbane, Newcastle, Sydney, Melbourne, Adelaide and Perth.

Velocity Truck Centers (part of Velocity Vehicle Group) has acquired Neely Coble Company, a multi-location Freightliner/Western Star/Isuzu dealership group with locations in the Nashville, TN, Huntsville/Decatur, AL and Bowling Green, KY metros. The acquisition expands Velocity Truck Centers' footprint from the Southwest into the Southeast and adds commercial vehicle sales, service and parts capabilities to support regional fleets and owner-operators.

Schneider has acquired Wisconsin-based regional carrier deBoer Transportation and will integrate its drivers and equipment to bolster Schneider’s Dedicated and Power Only operations. As part of the deal Schneider assumed ownership of roughly 160 tractors and 660 trailers; deBoer’s Blenker facility and a Dallas-area maintenance shop were excluded from the sale.

Nashville-based private investment firm Upside Growth Partners has acquired BOLT System, a Nashville-based cloud‑based SaaS transportation management system serving the trucking and logistics industry. Oaklyn Consulting advised BOLT's founders on strategic alternatives and initiated the transaction to provide founder liquidity and succession.

LGT Transport, LLC (Omaha, NE) has acquired Jason Thomas Trucking (Hastings, NE) to expand into liquid fertilizer transportation and deepen its presence in the agricultural logistics market. As part of the deal, Jason Thomas Trucking drivers and operational employees joined LGT and LGT acquired 8 tractors and 11 trailers while operations will continue to run out of Hastings, Nebraska.

Boxwheel Trailer Leasing, a Denver-based semi-trailer rental and leasing operator backed by Crosstimbers Capital Group, acquired the assets of Fleet Trailer Leasing in El Paso, Texas. The acquisition expands Boxwheel's geographic footprint into the El Paso/Juarez market and follows prior branch acquisitions as the company grows its rental and leasing network.

Full Guard Capital has partnered with Henry's Wrecker Service to provide strategic capital and support to accelerate the towing company's growth plans, including geographic expansion and pursuit of add-on acquisitions. Henry's, headquartered in Falls Church, Virginia, operates a fleet serving Washington, DC, Maryland and Virginia across municipal and commercial recovery and private-customer towing.

Tenstreet, the Tulsa-based driver recruitment and retention platform, acquired Vnomics (fuel-optimization software) and True Load Time (load-time/detention management) to integrate fuel-efficiency coaching and real-time load-time insights into its Driver Pulse and Rewards offerings. The acquisitions expand Tenstreet's capabilities to help carriers reduce fuel spend, lower detention delays, and improve driver retention.

TruckPro, a Memphis-based distributor of heavy-duty truck and trailer parts, acquired the assets related to Young's Gear Denali Drivelines, a driveline, drivetrain and suspension repair shop in Fairbanks, Alaska, owned by Daryl and Joy McGhan. The deal strengthens TruckPro's footprint and service capabilities in Alaska and provides local customers access to TruckPro's broader product offerings and nationwide distribution network.

FleetPride, the nation’s largest distributor of heavy-duty truck and trailer parts and service, has acquired the assets of Portville Truck & Auto Repair (owned by Chris Travis), including affiliated locations Fat Cat's Recovery and Repair, I-86 Repair and Towing and Big Dog Heavy Duty Recovery and Repair. The deal expands FleetPride’s parts and service footprint into New York’s Southern Tier and northern Pennsylvania while retaining Chris Travis as general manager of the new FleetPride locations.

Epika Fleet Services, Inc. has acquired Truckers 24-Hr Road Service, Inc., a mobile and in-shop heavy-duty truck repair provider based in Milton, Florida. The deal strengthens Epika’s footprint along the I‑10 corridor in the Southeastern United States and expands its mobile preventative maintenance and repair capabilities for commercial fleet customers in Florida.

One Equity Partners has completed an investment in Montgomery Transport, a Birmingham, Alabama–based over-the-road flatbed carrier specializing in over-dimensional and heavy-haul freight. OEP said it intends to support Montgomery Transport’s growth and use the company as a platform for consolidation in the flatbed trucking sector; financial terms were not disclosed.

FleetPride, the nation's largest distributor of heavy-duty truck and trailer parts and service, has acquired the assets of MTR Fleet Services (formerly Martin's Truck Repair) in Cumming, Georgia. The acquisition adds a 12,000-square-foot service center and MTR's team to FleetPride's expanding nationwide service network to strengthen its parts-and-service footprint in the Atlanta market.

FleetPride, Inc. acquired the assets of Nationwide Truck Service, a family-owned heavy-duty truck repair and roadside service provider in Louisville, Kentucky. The deal expands FleetPride’s local service footprint and parts-service integration in Louisville while owner Eric Adkins (and his son Jake) remain involved to support a smooth transition and employee continuity.