Rush Enterprises, Inc., which operates the largest network of commercial vehicle dealerships in North America, has acquired certain assets of Summit Truck Group, one of the largest International brand commercial vehicle dealership groups in the United States. The acquisition, which is the largest acquisition in the Company’s history, expands the Company’s network of Rush Truck Centers to 125 franchised dealership locations in 22 states. The sixteen newly acquired International brand commercial vehicle dealerships include five locations in Arkansas, three locations in Kansas, seven locations in Missouri and one location in Tennessee. The acquisition also includes Idealease commercial vehicle leasing operations at eight locations, five within the acquired International dealership locations and three in stand-alone Idealease facilities, a used truck sales facility in Kansas City and a collision center in Memphis. IC Bus, Isuzu and Dennis Eagle franchises are included at certain dealership locations. The Company also acquired Summit Truck Group’s dealership facility in Wichita Falls, Texas, which the Company will operate as a full-service Peterbilt commercial vehicle dealership.
“This acquisition will strengthen our dealership network in several of the most important trucking markets in the United States,” said W. M. “Rusty” Rush, Chairman, CEO and President of Rush Enterprises, Inc. “I am especially thankful to the employees of Summit Truck Group and Rush Enterprises who have worked tirelessly over the last few months to complete this transaction. We could not have completed this acquisition without a lot of work from the great teams at both companies. I have tremendous respect for the excellent customer service reputation that the employees of Summit Truck Group have built over the years, and we are excited to welcome many of them into the Rush Enterprises family,” Rush added.