This Slide: #7 of 33 |
Slide #7. Rush Enterprises, Inc. — Assets of Dealership Groups in Illinois and Indiana
Acquirer:
Rush Enterprises, Inc. (NASDAQ:RUSHA)
Acquiree:
Assets of Dealership Groups in Illinois and Indiana
Details:
Rush Enterprises, Inc. (Nasdaq:RUSHA) (Nasdaq:RUSHB), which operates the largest network of commercial vehicle dealerships in North America, today announced that its subsidiaries have acquired certain assets of CIT, Inc., which does business as Chicago International Trucks, Mcgrenho L.L.C., which does business as Indy Truck Sales, and Indiana Mack Leasing, LLC; and the membership interests of Idealease of Chicago, LLC. The purchase price for the assets, membership interests, goodwill and dealership properties was approximately $145 million. The company expects the acquisition to be accretive to future earnings.
Rush Enterprises is an integrated retailer of commercial vehicles and related services. Co.'s segment, the Truck Segment, operates a network of commercial vehicle dealerships under the name Rush Truck Centers. Most Rush Truck Centers are franchised dealers for commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus or Blue Bird. Through its network of Rush Truck Centers, Co. provides one-stop service for its commercial vehicle customers by providing service, parts and collision repair in addition to new and used commercial vehicle sales and leasing, insurance and financial services, vehicle upfitting, CNG fuel systems and vehicle telematics products.
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Strong Buy (4.00 out of 4) 81st percentile
(ranked higher than approx. 81% of all stocks covered)
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