Reading Truck Group Expands with Acquisition of PalFleet Truck Equipment Locations
Acquisition of PalFleet Service Bodies by Reading Truck Group Reading Truck Group will assume customers, staff, and assets at four PalFleet sites, acquiring its service body line. (Photo courtesy of PalFleet) Purchase Agreement Details Reading Truck Group has finalized an agreement to acquire the se
Acquisition of PalFleet Service Bodies by Reading Truck Group
Reading Truck Group will assume customers, staff, and assets at four PalFleet sites, acquiring its service body line. (Photo courtesy of PalFleet)
Purchase Agreement Details
Reading Truck Group has finalized an agreement to acquire the service bodies division of the PALFINGER Group.
Locations and Impact of Acquisition
As part of this acquisition, Reading Truck Group will take on customers, employees, and assets from four PalFleet locations: Council Bluffs, Iowa; Indianapolis, Indiana; Louisville, Kentucky; and Nashville, Tennessee. The deal is anticipated to be finalized by March 2017. This move will bring the total number of Reading distribution and upfitting facilities to 14 across 11 states.
Benefits of the Acquisition
“By acquiring these PalFleet sites, we are boosting chassis availability in the Midwest, improving service accessibility, and enhancing brand visibility, which will benefit all Reading distributors,” stated Tom Reynolds, the president of Reading Truck Group.
About Reading Truck Group
Reading Truck Group is a fully-owned subsidiary of J.B. Poindexter & Co., Inc. The company specializes in the design, engineering, manufacturing, and marketing of service and utility truck bodies, along with other vocational truck bodies and related equipment. Its headquarters and manufacturing operations are based in Reading, Pennsylvania, while it also maintains several installation facilities under the name Reading Equipment & Distribution.
Expansion of Facilities
This acquisition not only strengthens Reading Truck Group’s operational capabilities but also enhances its reach within the Midwest market, showcasing its commitment to expanding its service offerings.
Conclusion
Overall, the integration of PalFleet’s service body line signifies a strategic expansion for Reading Truck Group, allowing it to serve its customers more efficiently and effectively across multiple states.