Rush Enterprises Acquires Assets of Dealership Groups in Illinois and Indiana
January 14, 2014
Rush Enterprises Inc. 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.
The acquisition includes International commercial truck dealerships and Idealease commercial vehicle rental and leasing businesses in Carol Stream, Chicago, Grayslake, Huntley, Joliet, Kankakee and Ottawa, Illinois, and Brazil, Gary and Indianapolis, Indiana.
The newly acquired locations in Illinois and Indiana will operate as part of the company's Navistar Division and result in the company operating 107 Rush Truck Centers in 20 states. The acquisition also expands the company's Rush Truck Leasing capabilities.