M&A Deal Summary

Penske Automotive Group Acquires TEAM Truck

On February 28, 2022, Penske Automotive Group acquired retailer TEAM Truck

Acquisition Highlights
  • This is Penske Automotive Group’s 10th transaction in the Retail sector.
  • This is Penske Automotive Group’s 1st transaction in Canada.
  • This is Penske Automotive Group’s 1st transaction in Ontario.

M&A Deal Summary

Date 2022-02-28
Target TEAM Truck
Sector Retail
Buyer(s) Penske Automotive Group
Deal Type Add-on Acquisition

Target

TEAM Truck

London, Ontario, Canada
TEAM Truck is a retailer of medium and heavy-duty Freightliner and Western Star commercial trucks, located in Ontario, Canada.

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Buyer(S) 1

Buyer

Penske Automotive Group

Bloomfield Hills, Michigan, United States

Category Company
Founded 1990
Sector Retail
Employees28,500
Revenue 29.5B USD (2023)
DESCRIPTION
Entrance to Penske Automotive Group's headquarters in Bloomfield Hills, Michigan.
Entrance to Penske Automotive Group's headquarters in Bloomfield Hills, Michigan.

Penske Automotive Group is an automotive retailer that sells new and used motor vehicles, maintenance, and repair services. Penske Automotive Group was founded in 1990 and is based in Bloomfield Hills, Michigan.


DEAL STATS #
Overall 22 of 27
Sector (Retail) 10 of 10
Type (Add-on Acquisition) 17 of 22
State (Ontario) 1 of 1
Country (Canada) 1 of 2
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 McCoy Freightliner

Portland, Oregon, United States

McCoy Freightliner is a full-service Freightliner, Western Star, and Sprinter van dealership with four locations in the Pacific Northwest. It offers a large selection of new and pre-owned trucks, Elite Support qualified service departments, and an extensive heavy-duty truck parts inventory. McCoy Freightliner was formed in 2007 and is based in Portland, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-03 Terry Lee Hyundai

Noblesville, Indiana, United States

Terry Lee Hyundai is a large inventory of new, used, and Certified Pre-Owned cars, trucks, crossovers, and SUVs.

Buy -