November 2024 TPS Mergers & Acquisitions Roundup
November saw some significant moves in the mergers and acquisitions arena for dealers, aftermarket businesses, and suppliers. While the overall pace was slower than previous months, the deals that did happen were noteworthy.
The aftermarket sector kicked off the month with Blaine Brothers announcing its acquisition of Wheel Service Brake & Equipment, also known as Mike Dunning Axle Repair. Blaine Brothers’ CEO, Spencer Dally, expressed enthusiasm about integrating Mike’s exceptional services into their offerings, highlighting the alignment in the commitment to quality service and customer satisfaction.
ProKeep made waves with the announcement of securing $25 million in financing to drive growth and enhance demand generation capabilities for distributors. CEO and Co-founder, Jack Carrere, emphasized their commitment to boosting customer relationships and driving demand, signaling a promising future with substantial funding support.
Stonepeak made a strategic move by acquiring Fleet Companies, a prominent regional trailer dealership and leasing company, on November 19. This acquisition paves the way for Stonepeak to establish a national trailer platform in the United States, tapping into the sector’s growth potential and resilience throughout economic cycles. James Wyper, Senior Managing Director at Stonepeak, highlighted the attractiveness of trailer leasing as an investment opportunity, given its critical role in the transportation supply chain.
Overall, November may have been slower in terms of acquisitions, but each deal had significant implications for the companies involved, promising exciting developments in the future.
