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Penske Acquires TEAM Truck Centres in Ontario, Canada

March 01, 2022, 07:08 AM
Filed Under: Trucking

Penske Automotive Group, Inc., a diversified international transportation services company, announced that it has acquired TEAM Truck Centres, a retailer of medium and heavy-duty Freightliner and Western Star commercial trucks, located in Ontario, Canada. The acquisition is expected to generate approximately $150 million in annualized revenue, building further scale within the company's wholly owned Premier Truck Group (PTG) subsidiary.

TEAM has been operating in southwest Ontario, Canada for over 45 years and is one of the largest and most-well-respected commercial truck dealerships in Canada. TEAM adds four full-service dealerships in Ontario (Cambridge, London, Sarnia, Windsor) to Premier Truck Group's existing operations, bringing the company's commercial truck dealership operations to eleven locations in Canada. PTG President Richard Shearing said, "We are thrilled to welcome TEAM Truck Centres to Premier Truck Group. These new locations are complementary to our existing locations in Ontario, improve our scalability, and increase our ability to service trucks remotely through TEAM Truck Centres mobile product support vehicles."

PTG now operates 41 North American commercial truck locations in Texas, Oklahoma, Oregon, Tennessee, Georgia, Kansas, Missouri, Utah, Idaho and Ontario, Canada, which generate nearly $3 billion in aggregate annual revenue.

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