HOUSTON--(BUSINESS WIRE)--Houston-based Leslie Doggett Industries, through its division the Doggett Truck Group, announces the acquisition of 3 Freightliner and 1 Western Star Truck Dealership from the Opus Kane Truck Group and Eddy Vaughn Freightliner. The transaction for San Antonio and Laredo (Opus Kane) was finalized on December 16, 2013 while the transaction for McAllen (Eddy Vaughn Freightliner) was finalized December 19, 2013.
Purchase price is estimated to be approximately $30 million. Freightliner (a wholly owned Daimler-Benz Subsidiary) is the largest worldwide and North American manufacturer of highway, vocational and severe duty trucks with an overall 30+ percent market share of the Class 8 North American market in 2013.
These transactions lift Leslie Doggett Industry’s estimated annual revenues above $700 million (for the first time exceeding $2.5 million in equipment sales and support services every business day) and increase full-time employees to approximately 900.
“This acquisition complements Leslie Doggett’s existing John Deere construction and forestry dealerships and our Toyota forklift business, allowing contractors, manufacturers and distribution companies doing business in South Texas to have a single provider of heavy equipment services expanded to include heavy haul and highway trucks,” said Brian McLemore, chief financial officer with Doggett. “With our team’s focus on world-class support services, Doggett’s mission is to be the number 1 provider of heavy equipment services in all of its markets.”
Leslie Doggett Industries provides John Deere construction and forestry products for Louisiana, east and southeast Texas, including all of the Gulf Coast from New Orleans to Brownsville, Texas through 18 John Deere dealerships. The company is the largest Toyota Industrial Equipment dealer with distribution for southern Texas and Chihuahua, Mexico through 8 Toyota Industrial full service and sales dealerships. Doggett received Toyota’s highest honor (President’s Award) 6 out of the last 7 years culminating in Doggett’s Toyota Group achieving one of the highest market share percentages in North America for Toyota.
These acquisitions by Doggett are the 18th and 19th in the past 20 years. The purchase of South Texas Freightliner dealerships follows Leslie Doggett’s acquisition of the Houston John Deere Construction Equipment Business from Rush Enterprises (RUSH: NYC) for $62 million in 2010 and 11 dealerships for $103 million from Nortrax, company-owned stores operated by John Deere & Company (NYSE:DE), in 2007.