Vanguard Truck Centers has entered into an agreement to acquire Charlotte-based Advantage Truck Centers and Advantage Truck Leasing.
The acquisition of Advantage will expand Vanguard’s footprint from 20 to 25 locations across the country and grows its presence along the I-85 corridor in the Southeast.
Founded in 1995, Advantage is a highly respected dealer group and leasing operation representing Volvo Trucks, Autocar, Isuzu Trucks and Hino Motors. Advantage won North American Dealer of the Year for Volvo Trucks in 2020 and has a consistent track record of success in the Southeast region through both its dealership and lease and rental businesses.
[RELATED: Parts and service growth leads M&A activity in September]Vanguard says this acquisition will strengthen Vanguard’s position as one of the largest Volvo Trucks dealer groups in North America while growing its Isuzu network and adding Autocar and Hino Motors to its lineup of OEMs. Advantage Truck Leasing’s sizable fleet and operating expertise will accelerate Vanguard’s growth in its full-service leasing business.
“We are thrilled to welcome Advantage Truck Centers and Advantage Truck Leasing to the Vanguard family,” says Tom Ewing, president and CEO, Vanguard Truck Centers. “I have followed Terry Young and his team for many years, and I have a tremendous respect for the platform they’ve built in North Carolina. We will build on what Advantage has established and continue to provide best-in-class trucks, parts, service and leasing for our customers.”
The Advantage and Vanguard teams will work closely to ensure a smooth transition. Vanguard plans to retain all existing Advantage employees, with CEO Terry Young and President Ken Adkins continuing to lead the business post-closing, Vanguard says.
“I have known the Vanguard family for over 30 years, and it is clear our values and desire to win are very compatible,” says Terry Young, owner and CEO, Advantage Truck Centers. “I look forward to working with our teams as we bring the Advantage group into the Vanguard fold.”
Upon completion of this transaction, Vanguard will have approximately 900 employees and anticipates sales of over 5,500 new and used commercial trucks annually. The closing of the transaction is expected fourth quarter 2021, Vanguard says.