Parties
Company
Velocity Vehicle Group
Company
First Truck Centre Inc.
On November 1, 2023, Velocity Truck Centers, a leading commercial vehicle dealership with operations in the U.S. and Australia, expanded into Canada by acquiring First Truck Centre. First Truck Centre, based in Western Canada, is known for its heavy truck and specialty vehicle dealerships. The company represents the Daimler Trucks North America product line, which includes Freightliner and Western Star brand trucks, Thomas Built Bus, and Autocar brand vehicles.
The acquisition of First Truck Centre marked a significant strategic move for Velocity Truck Centers, enabling the company to extend its footprint into the Canadian market. Miller Thomson served as the legal advisor for First Truck Centre in this transaction, while Cassels represented Velocity Vehicle Group. The transaction value was not disclosed.
This expansion is expected to enhance Velocity Truck Centers' market presence and service capabilities across North America, providing a broader range of products and services to its Canadian customers.
Deal Type
Merger & AcquisitionIndustry
TransportationTransaction
Undisclosed/ConfidentialDeal Status
ActiveClosing Date