Tallman Group announces joint venture with Rush Enterprises
February 06 2019 - 7:50PM
Tallman Group, the largest International Truck dealership in
Canada, announced today that it has signed an agreement to enter
into a new joint venture with Rush Enterprises, Inc., which
operates the largest network of commercial vehicle dealerships in
North America.
Tallman Group and Rush Enterprises will each own
50 percent of the new joint venture entity, which will operate
Tallman Group’s network of commercial vehicle dealerships in
Canada. The formation of the joint venture is subject to customary
closing conditions, but the parties expect the transaction to close
on February 25, 2019. Tallman Group will be rebranded to Rush Truck
Centres of Canada Limited and will operate under the same
leadership of Kevin G. Tallman, Chief Executive Officer and Roger
Poirier, CFA, President.
“This is a very exciting partnership for our
entire network of employees and customers that have known and
trusted Tallman Group for 45 years. This partnership will give us
tremendous access to industry leading technology which should
greatly enhance our entire customer service experience," says Kevin
G. Tallman, Chief Executive Officer, Tallman Group. “Our
cross-border customers will greatly benefit by having priority
access to the largest commercial dealership group in North America.
We are looking forward to utilizing this joint venture as a
platform to accelerate our growth strategy in Canada with the
support of Rush Enterprises.”
“I am extremely excited to announce Rush
Enterprises’ joint venture with Tallman Group,” said W.M. “Rusty”
Rush, Chairman, Chief Executive Officer and President of Rush
Enterprises, Inc. “The Tallman family has built a successful
and respected International Truck dealership network in Ontario,
which is consistently recognized as one of the best performing
International Truck dealership groups in North America. We
believe this joint venture will provide customers with
best-in-class service by combining the advanced operating systems
developed by Rush Enterprises with the operational abilities of the
Tallman Group,” Rush added.
Rush Enterprises is a publicly traded
corporation led by W.M. “Rusty” Rush, Chairman, Chief Executive
Officer and President, headquartered in New Braunfels, Texas. Rush
(NASDAQ: RUSHA) (NASDAQ: RUSHB) reported $4.7 billion in revenue in
2017. With 110 locations in 22 states, Rush is the largest
commercial vehicle dealer in North America. The company employs
6,900 people and sold nearly 32,800 trucks in 2017.
About Rush Enterprises,
Inc.Rush Enterprises, Inc. is the premier
solutions provider to the commercial vehicle industry. The Company
owns and operates Rush Truck Centers, the largest network of
commercial vehicle dealerships in the United States, with more than
100 dealership locations in 21 states. These vehicle centers,
strategically located in high traffic areas on or near major
highways throughout the United States, represent truck and bus
manufacturers, including Peterbilt, International, Hino, Isuzu,
Ford, Mitsubishi, IC Bus and Blue Bird. They offer an integrated
approach to meeting customer needs — from sales of new and used
vehicles to aftermarket parts, service and body shop operations
plus financing, insurance, leasing and rental. Rush Enterprises'
operations also provide vehicle upfitting, CNG fuel systems and
vehicle telematics products. Additional information about Rush
Enterprises’ products and services is available at
www.rushenterprises.com. Follow our news on Twitter at
@rushtruckcenter and on Facebook at
facebook.com/rushtruckcenters.
About Tallman GroupTallman
Group has been in business since 1973, and is the largest
International dealer in Canada. Tallman employs over 600
people and operates 14 locations, and 6 associate locations in
Ontario. In 2018 the company achieved revenues of $370
million (CAD) and delivered almost 2,000 trucks. The company
is authorized to sell International Trucks, Isuzu Trucks, Kalmar
Ottawa Shunt Trucks, Cobra Trailers, Fontaine Trailers, Doepker
Trailers, and Trout River Trailers. In addition, the company
operates an Idealease franchise that includes over 1,100 trucks in
its lease and rental fleet. In 2015, Tallman Group was named
International’s North American Truck Dealer of the Year.
Tallman Group has also been named one of Canada’s Best Managed
Companies for 10 consecutive years.
Media Contact
Nicola ShorttTallman
Group289-404-0334nshortt@tallmangroup.ca
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