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Velocity Truck Centers Acquires Neely Coble Company

March 08, 2021, 07:20 AM
Filed Under: Mergers & Acquisitions

Velocity Truck Centers (VTC), a group of commercial vehicle dealerships in the Southwest, is announced the company has expanded into the Southeast with the acquisition of Neely Coble Company, Inc. This acquisition extends VTC’s reach from California, Arizona, Hawaii and Nevada into central Tennessee, northern Alabama and southern Kentucky. Neely Coble’s primary locations sell and service the Freightliner, Western Star and Isuzu brands from locations in the Nashville, TN, Huntsville/Decatur, AL, and Bowling Green, KY, metropolitan areas.

VTC will bring its customer focus, including two-hour Express Assessment, Elite Support Certification and equipment financing through its Crossroads Equipment Lease and Finance division, to markets in the Southeast.

With the addition of these locations VTC continues as one of the largest Freightliner and Western Star dealership groups in the country with more than 30 locations and over 1,800 employees. Existing operations and announced acquisitions generate in excess of $2 billion in worldwide annual revenue from commercial vehicle sales, service, parts, collision and fabrication centers, and equipment financing.

Brad Fauvre, Co-President of VTC, said, “We are very excited to extend Velocity Truck Center’s reach to the rapidly growing markets in the Southeast. We will now be able to take care of our customers operating in a broad area of the US from East to West. VTC is committed to providing exceptional support for our customers and a great place to work, and we know that the Neely Coble Company employees will help us to accomplish these goals.”

Conan Barker, Co-President of VTC, added, “We want to thank Neely Coble III for working with us to complete this transaction, and we enthusiastically welcome Neely Coble IV and Edward Coble who will join our management team and ensure continuity of customer service as we navigate the transition. We could not be more pleased to have both of them as our partners going forward. In addition, our whole management team looks forward to growing together with our new team members and Southeastern customers in the coming years.”

Neely Coble III added, “We feel very fortunate to join Velocity Truck Centers. Neely Coble Company was founded in 1951 by my grandfather and father and now we are in the fourth generation of Cobles. Personally, I could not be happier that my two sons, Neely and Edward, are continuing their careers with VTC and we welcome them to Nashville and the Southeast.”

Velocity Truck Centers is part of the Velocity Vehicle Group (VVG). VVG also offers equipment financing through its Crossroads Equipment Lease and Finance subsidiary, as well as small business and SBA loans through Velocity SBA and truck rental and leasing through Velocity Truck Rental and Leasing.

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