San Antonio-based Rush Enterprises Inc. has purchased Lake City International for $38.7 million and is starting a new Navistar division, the truck dealership announced.
The Lake City Companies operate dealerships in Utah, Idaho and Oregon offering commercial truck and bus sales, service, parts, finance and leasing business of brands including International, IC Bus, Autocar, Mitsubishi Fuso, Kalmar, Workhorse and Idealease truck leasing.
Rush plans to purchase Lake City’s real estate no later than June 30 in a separate transaction for about $34.5 million, a Rush Enterprises spokesman said.
The purchase expands Rush’s network of truck centers to 60 locations in 14 states, including dealerships in five locations in both Utah and Idaho and one in Oregon. Rush Truck Leasing will operate Idealease truck rental and leasing franchises at existing locations in Salt Lake City, Utah, and Boise, Idaho.
For its newly formed Navistar division, Rush Enterprises named Richard J. Ryan senior vice president – Navistar dealerships. Ryan will oversee the operations of Rush Truck Centers that sell and service Navistar products, including the newly acquired assets.