Schenck M&A Solutions advises Packer City International Trucks on the acquisition of Schultz Equipment & Parts

2/9/2016
NEWS RELEASE

For Immediate Release
February 9, 2016

Contact:
LeRoy Matuszak, CPA, CVA
Managing Director, Schenck M&A Solutions
leroy.matuszak@schencksc.com

WISCONSIN – Schenck M&A Solutions and Packer City International Trucks, Inc. announced that Packer City has acquired the assets of Schultz Equipment & Parts Co. of Iron Mountain, Michigan. Schenck M&A Solutions advised Packer City on this transaction. 

Schultz Equipment & Parts is one of the Upper Peninsula's largest medium- and heavy-duty truck dealers and service centers. Packer City President Bob Renkens said the acquisition gives the company a fourth location along with its locations in Green Bay, Shawano and Appleton. Renkens also said it will strengthen Packer City's position in the industry.

"Our associates and their passion for success define who we are.  The culture of teamwork, personal development, commitment and integrity underscores how we do business," Renkens said in a media release. "That will continue as we move forward, and we are excited about the opportunities presented by this acquisition."

About Packer City International Trucks, Inc. 

Founded in 1982, Packer City International Trucks is a Wisconsin-based market leader in the medium- and heavy-duty truck segments. It supports International truck products, Isuzu LCF truck product, Idealease fleet, IC Bus parts and service and Workhorse trucks. For more information, visit www.pcitrucks.com

About Schultz Equipment & Parts Co.

Schultz Equipment is the U.P.'s largest full-service heavy- and medium-duty truck dealer. In business since 1963, Schultz has been a full-line Navistar International truck dealer since 1974. Its product line includes a full-line of International school busses, Prentice log loaders, Idealease trucks and a large selection of used trucks. Schultz specializes in a full-range of repairs including engine rebuilding, wheel alignments, body shop and custom welding and fabrications. For more information, visit www.schultzequipment.com

About Schenck M&A Solutions

Schenck M&A Solutions, a division of Schenck SC, consists of a dedicated group of investment banking professionals providing M&A advisory services for business sales and divestitures, acquisitions, management buyouts and recapitalizations. The M&A team approaches transactions with creativity, a strong sense of urgency and the negotiation skills and deal expertise critical to complete transactions in the best interests of its clients. Schenck M&A Solutions is uniquely positioned having the dedicated M&A experience of a boutique investment bank backed by the breadth of knowledge and resources of a large accounting and advisory firm.

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