TEAM Truck Centres acquired by Penske Automotive

London-based TEAM Truck Centres, which operates four full-service truck dealerships in Southwestern Ontario, will become part of Penske’s Premier Truck Group subsidiary

Photo: The Team Truck Centres location at 795 Wilton Grove Road

LONDON-BASED TEAM Truck Centres Limited, a retailer of medium- and heavy-duty Freightliner and Western Star commercial trucks, has been acquired by Penske Automotive Group, Inc.

TEAM has been operating in Southwestern Ontario for over 45 years and is one of the largest and commercial truck dealerships in Canada. Including its London dealership at 795 Wilton Grove Road, TEAM operates full-service dealerships in Cambridge, Sarnia and Windsor, Combined, the four dealerships generate approximately (U.S.) $150 million in annualized revenue.

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Penske Automotive Group, based in Bloomfield Hills, Michigan, is a diversified international transportation services company and one of the world’s largest automotive and commercial truck retailers.

The four TEAM dealerships will become part of Penske’s wholly-owned Premier Truck Group subsidiary, bringing the company’s commercial truck dealership operations to eleven locations in Ontario. Including the Ontario locations, PTG, headquartered in Dallas, Texas, operates a total of 41 commercial truck locations in North America, generating nearly (U.S.) $3 billion in aggregate annual revenue.

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“We are thrilled to welcome TEAM Truck Centres to Premier Truck Group,” says PTG president, Richard Shearing, in a release. “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.” TEAM Truck Centres acquired by Penske Automotive team truck Mergers & Acquisitions

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