The Midway Trailer Sales & Service division is not part of this purchase agreement and will continue to operate as a separate company.
The parties expect to close the transaction on May 2.
Midway Truck Parts was founded in 1978 by Pete Pasdach, president, and Rich Murawski, vice president. Upon closing of the transaction, Murawski will join FleetPride in his operational role and Pasdach will lead FleetPride's Midwest Region in his new role as regional vice president - Midwest Region.
"The Midwest is a target growth area for FleetPride and Midway Truck Parts is a strategic fit in terms of size, scale, leadership and reputation. Adding Midway Truck Parts strengthens our position in the Midwest, allows us to quickly establish a large presence in the region and brings a respected industry leader into the FleetPride family. Pete brings a passion for this business that will allow us to continue to expand the Midwest both in sales volume and locations," said W.M. McGee, President and CEO.