Acquisition

Rush Enterprises Inc. announced that its subsidiaries have acquired certain assets of Piedmont International Trucks, which operates commercial truck dealerships in North Carolina.

Texas-based refrigerated carrier Continental Express has purchased the assets of Ohio company Ranger Refrigerated Express for an undisclosed amount.

The Timken Co. announced its acquisition of Interlube Systems Ltd., which makes and markets automated lubrication delivery systems and related components to end market sectors including commercial vehicles, construction, mining, and heavy and general industries.

AMP Holding Inc., through a newly formed subsidiary, Amp Trucks Inc., has entered into a definitive agreement to acquire the Workhorse brand, logo, IP, patents, and assembly plant from Workhorse Custom Chassis LLC, a wholly owned affiliate of Navistar International Corp.

The industry has seen a growing number of fleet acquisitions and mergers in the past few months, and many believe this is part of a growing trend. The trend of fleet acquisitions is cyclical, according to Lana Batts, managing partner with Transport Capital Partners, which helps fleets negotiate such deals. “I believe we are just at the beginning of the cycle,” Batts said.

Continuing its strategy of acquiring trucking companies with distinguished reputations, strong customer bases, and long-term growth opportunities, Eberhart Capital LLC has agreed to acquire Poling Transportation Inc. (now Poling Express LLC) in a stock and cash transaction.

Polar Corp. announced that it has acquired the assets of Beall Transport Equipment Co., the aftermarket parts and service division of Beall Corp.

Global alternative asset manager The Carlyle Group L.P. has completed its acquisition of DuPont Performance Coatings for $4.9 billion and announced that the company is being renamed Axalta Coating Systems.