CHICAGO--(BUSINESS WIRE)--Merx Truck & Trailer ("Merx"), a leading provider of truck and trailer repair and maintenance services, is pleased to announce its acquisition of Majestic Truck Services (“Majestic”), a well-established truck service company based in Altoona, IA.
“We are very pleased with the way this partnership developed. Our customers will now benefit from an even wider range of services and resources, our employees will have significant room for growth in an active and rapidly growing organization.”
Merx Truck & Trailer has been a trusted name in the industry, providing a comprehensive range of services, including diesel engine repair, transmission repair, brake repair, collision work, paint, and oil changes. With multiple locations across the Midwest, the company has built a reputation for delivering top-notch services and exceptional customer satisfaction.
The strategic acquisition of Majestic aligns perfectly with Merx Truck & Trailer's growth strategy of expanding service offerings and geographic reach. This is Merx's third acquisition of 2023, and the second business acquired in the Des Moines market. By combining Majestic Truck with its existing operations, Merx Truck & Trailer now boasts a formidable multi-site presence across Iowa, bolstering its ability to serve customers in the area effectively.
Christian Peneff, CEO of Merx Truck & Trailer, expressed enthusiasm about the acquisition, stating, "We're thrilled to announce the addition of Majestic Truck to the Merx family of companies. This acquisition marks yet another important step in our growth journey, and we're enthusiastic about harnessing Majestic Truck's capabilities to enhance our customer service and fuel our continued expansion."
Majestic Truck has been a reputable player in the truck and trailer body and collision repair industry since 1979. The company boasts a highly skilled team of technicians and operates from a substantial 53,000 square foot facility, ensuring top-quality services for all clients. As part of the transaction, Majestic Truck's operations will be seamlessly integrated into Merx Truck & Trailer, maintaining a consistent level of excellence while creating new opportunities for its workforce.
Marc Hyland, President of Majestic Truck, expressed excitement about the acquisition, saying, "We are very pleased with the way this partnership developed. Our customers will now benefit from an even wider range of services and resources, our employees will have significant room for growth in an active and rapidly growing organization."
The addition of Majestic Truck demonstrates Merx's dedication to delivering the utmost level of service and support to its customers. With the closing of this transaction, Merx continues to actively look for additional opportunities to expand throughout the Midwest.
Terms of the transaction were not disclosed. Roadmap Advisors served as the exclusive financial advisor in connection with the acquisition, and McCarthy Duffy LLP acted as legal advisor.
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