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.
