Penske Automotive Group acquires TEAM Truck Centres
Penske Automotive Group, Inc. announced it has acquired TEAM Truck Centres, a retailer of medium and heavy-duty Freightliner and Western Star commercial trucks.
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 11 locations in Canada.
“We are thrilled to welcome TEAM Truck Centres to Premier Truck Group,” said Richard Shearing, President, PTG. “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.”
The acquisition is expected to generate approximately $150 million in annualized revenue.