Vanguard Truck Centers, a full-service commercial truck dealer group and leasing operation, announced it has entered into an agreement to acquire Charlotte-based Advantage Truck Centers and Advantage Truck Leasing.
The acquisition of Advantage will expand Vanguard’s operations from 20 to 25 locations across the U.S.
The addition of Advantage will strengthen Vanguard’s position as one of Volvo Trucks dealer groups in North America. It will also grow its Isuzu network and adding Autocar and Hino Motors to its lineup of OEMs.
“We are thrilled to welcome Advantage Truck Centers and Advantage Truck Leasing to the Vanguard family,” said Tom Ewing, president and CEO at Vanguard Truck Centers. “I have followed Terry Young and his team for many years, and I have a tremendous respect for the platform they’ve built in North Carolina. We will build on what Advantage has established and continue to provide best-in-class trucks, parts, service and leasing for our customers.”
Vanguard said it plans to retain all existing Advantage employees, with CEO Terry Young and President Ken Adkins leading the business post-closing.
“I have known the Vanguard family for over 30 years, and it is clear our values and desire to win are very compatible,” said Terry Young, owner and CEO of Advantage Truck Centers. “I look forward to working with our teams as we bring the Advantage group into the Vanguard fold.”
The closing of the transaction is expected fourth quarter 2021.
Originally posted on Work Truck Online