Rush Enterprises and Carrier Transicold dealer MCT Companies are forming a joint venture they say will expand service capabilities for refrigerated fleets through investments in technology, facilities and technicians.
Under the agreement, Rush Enterprises and an affiliate of MCT Companies will each own 50% of the new company, MCT Holdings LLC.
The new company will operate MCT’s network of Carrier Transicold truck, trailer and rail refrigeration and auxiliary power unit dealerships throughout the Midwest and on both the East and West Coasts.
New Company Will Operate MCT’s Carrier Transicold Dealer Network
MCT is one of the largest Carrier Transicold dealers in the U.S., with a network of 17 Carrier Transicold full-service dealerships and 3 mobile service locations located across the refrigerated freight market in California, Nebraska, Kansas, North Carolina, South Carolina and Virginia.
Rush says it operates the largest network of commercial vehicle dealerships in North America, with more than 160 locations in 24 states and Ontario, Canada, representing Peterbilt, International, Hino, Isuzu, Ford, IC Bus and Blue Bird.
The transaction is expected to close during the third quarter, pending customary closing conditions.
Partnership Focuses on Service Growth and Fleet Uptime
For fleets operating refrigerated trailers, the companies said the partnership is intended to improve service responsiveness and uptime while supporting future growth.
MCT’s dealership network provides sales, parts, service, refrigerated trailer rentals, and support for Carrier Transicold truck, trailer, and rail refrigeration units, as well as auxiliary power units.
Rush said the investment expands its presence beyond its traditional commercial truck dealership business into refrigerated transportation service.
“This joint venture represents an important step in Rush Enterprises’ strategy to expand our presence in adjacent segments of the commercial vehicle market while delivering even greater value to our customers,” Rusty Rush, chairman, CEO and president of Rush Enterprises, said in a statement.
Bill Willett, CEO of MCT Companies, will serve as CEO and president of MCT Holdings.
Willett said the partnership will give MCT more resources to grow its service network.
“This joint venture provides us with access to additional capital and operational resources that will help accelerate our long-term growth strategy,” Willett said.
“Most importantly, it will enable us to better serve our customers by expanding our service capabilities, investing in our facilities and technicians, and delivering the responsiveness and uptime they depend on.”
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