Rush Enterprises Inc., which operates the largest network of Peterbilt heavy-duty truck dealerships in North America and a John Deere construction equipment dealership in Houston, Texas, said it has acquired certain assets of Fountain Motor Co.
Inc.'s ("FMC") GMC and Isuzu medium-duty truck dealership in Orlando, Fla.
In addition to Rush's existing Peterbilt and UD dealership in the Orlando area, this acquisition provides Rush with the rights to sell GMC and Isuzu medium-duty trucks and parts in Orlando and increases the company's operations to 45 truck locations in nine states.
The net cost of this acquisition to the company was approximately $2.8 million, with the purchase price paid in cash. Pending approval from the State of Florida Division of Motor Vehicles, Rush intends to add Peterbilt and UD products to the new Orlando dealership and to operate the facility as a full-service Rush Truck Center offering heavy-duty and medium-duty trucks, parts and service.
W. Marvin Rush, chairman and CEO of Rush Enterprises said "As we have stated before, we are committed to increase our medium-duty presence in our existing areas of responsibility. This acquisition enables us to offer a full breadth of heavy-duty and medium-duty trucks, parts and service in a market that we believe has great growth potential. We are excited about working with the good people from FMC and look forward to offering our consistently high-quality products and services from an additional dealership in the Orlando area."