The company launched in April 1950 with a total investment of $8,000 between partners Jerry Nerman and the late Melvin Spitcaufsky. Since then, Arrow has grown into 19 retail stores across the U.S. and Canada, including two new stores in Denver and Minneapolis. Arrow carries a diverse inventory of 2,500 units of all makes and models and offers a variety of services.
In 1977, Arrow built its current headquarters in Kansas City. Following government deregulation of the trucking industry in the early 80s, Arrow saw a boost in its wholesale business. The company then joined the retail market, with its first retail store opening in Atlanta in 1984. In 1990, Arrow launched its own finance company, Transport Funding. The Volvo Group purchased 50 percent ownership of the company in November 1998 and completed acquisition in January 2001. Carl Heikel was named CEO and president in 2004, and still holds that title today.
In February of this year, Nerman celebrated his 90th birthday and announced that he was retiring after 60 years, "to pursue other interests," he said. This includes dedicating more time to his contemporary art collection and being more involved with the Nerman Museum of Contemporary Art on the Johnson County Community College campus in Overland Park, Kan. Nerman also helped to found the Used Truck Association (UTA).