Haig Partners Advises Sale of River States Freightliner to Penske Automotive

Haig Partners LLC, a prominent advisory firm specializing in auto, heavy truck, and RV dealerships in the U.S., acted as the exclusive sell-side advisor for the sale of River States Truck and Trailer to Premier Truck Group (PTG), a subsidiary of Penske Automotive Group, Inc. The acquisition is expected to add approximately $200 million in annual revenue to PTG, expanding its presence to 48 locations across the U.S. and Canada.

River States operates five facilities in Western Wisconsin and Eastern Minnesota, including three full-service Freightliner and Western Star dealerships in Eau Claire, La Crosse, and Roberts, WI, along with independent repair facilities in Osseo, WI, and Eagan, MN. With this acquisition, PTG gains an additional 161,000 sq. ft. of facilities, 96 service bays, and 63 technicians.

Joe Laux, CEO of River States, expressed gratitude to his team and excitement for future ventures, acknowledging PTG’s capability to support his staff with broader opportunities. Haig Partners’ M&A advisors were commended for their integrity and diligence throughout the transaction.

Alan Haig, President of Haig Partners, highlighted the strategic fit between PTG and River States, emphasizing the growth potential in the heavy truck industry through consolidation and enhanced service networks.

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