December 2024 TPS Mergers and Acquisitions: Trucks, Parts, Service Roundup
As we close out 2024, the dealer, service provider, and supplier segments are wrapping up the year with a steady stream of transactions. November saw four announcements, followed by four more in December.
First up, in the service sector, Commercial Truck and Trailer Parts and Fleet Services in southern California joined forces on Dec. 11. According to Jason Reeher, president and CEO of Fleet Services, this partnership is all about expanding their physical footprint to provide faster local deliveries and enhanced service to the southern California market. The experience and knowledge of the Fleet Services team, built over the last 60 years, will play a key role in this newly formed alliance.
Next on the list is Shyft Group, which announced an all-stock merger with Aebi Schmidt on Dec. 16. Aebi Schmidt specializes in commercial truck upfitting, snow and ice solutions, street sweeping and pavement marking, airport snow and ice management, and agricultural solutions. John Dunn, president and CEO of Shyft, sees this merger as a strategic move to leverage the strengths of both companies, including their industry-leading brands, innovative products, customer relationships, and manufacturing excellence.
On the same day, Jackson Group Peterbilt acquired locations in Wyoming with the support of Performance Brokerage Services. This acquisition added locations in Casper, Rock Springs, Cheyenne, and Riverton, Wyoming, to the Jackson Group Network. Blake Jackson, CEO, praised the professionalism, transparency, and attention to detail demonstrated by Performance Brokerage Services throughout the entire process.
Finally, on Dec. 20, it was announced that Bendix has divested R.H. Sheppard to an affiliate of Balmoral Funds, a California private equity firm. This transaction includes the entire Sheppard business, encompassing branded products, production equipment, sales, and operations.
These moves highlight the dynamic nature of the finance and securities & exchange world as we head into the new year. Stay tuned for more updates as the industry continues to evolve.
