Milwaukee, Wisconsin (October 29, 2010) — Lakeside International Trucks, one of the leading medium and heavy duty truck dealerships in the Midwest, has initiated its due diligence process to acquire the Chicago International Truck dealership in Rockford, Illinois. This purchase would represent the third acquisition for Lakeside International Trucks in the last five years and would be its seventh dealership location. The transaction is expected to be finalized on or before December 31, 2010.
With this purchase, Lakeside expands its market coverage and reinforces its commitment to growth and market leadership as a premier dealership representing International® medium, heavy and severe service commercial trucks, MaxxForce® diesel engines, and other parts, service, Idealease truck rental and leasing and finance offerings. Lakeside International Trucks is owned and operated by Bill Reilley, Sr., CEO and Bill Reilley, Jr., President and currently has six full-service locations serving southern Wisconsin including: Milwaukee, Racine, West Bend, Random Lake, Janesville and Monroe, Wisconsin.
G. David Gerrard, Senior Vice President, Dealer Operations at Navistar, Inc., said, "The Reilley family is committed to investing in their business and we commend them and the Lakeside team for their dedication and ongoing commitment to exceptional customer service and representation of the International brand. Lakeside is a perennial performer in our dealer network. Receiving International's Dealer of the Year and Circle of Excellence award for over 16 years is evidence of Lakeside's commitment and ability to deliver value to the customers and employees in the Rockford market."
Bill Reilley, Sr. said, "I am genuinely excited and confident that this acquisition will further create an expanded organization with an exceptional future for the benefit of our employees and customers. Very simply, the intent of this transaction is to build on the foundation already in place in Rockford with a quality staff and facility, to offer superior service with expanded business solutions for our customers, while also allowing us to leverage economies of scale to go to market even more competitively. We fully expect and look forward to a seamless transition as we move forward with this acquisition."
Lakeside International Trucks is the premier medium and heavy duty truck dealership in southern Wisconsin, representing the full line of International ® medium, heavy and severe service trucks, MaxxForceTM diesel engines and all-makes replacement parts. Lakeside provides service support with factory trained and certified technicians in their Service Departments and Body Shop. Badgerland Idealease, a Lakeside company, offers full service leasing, commercial rental, contract maintenance, and a portfolio of support services. Founded by Bill Reilley Sr. in 1984, Lakeside International Trucks celebrated their 25th anniversary in 2009. In that time, Lakeside has grown to 6 locations, generating over $100 million in annual revenue with more than 300 employees. Additional information is available at www.LakesideTrucks.com
Navistar International Corporation (NYSE: NAV) is a holding company whose wholly owned subsidiaries produce International® brand commercial and military trucks, MaxxForceTM brand diesel engines, IC brand school and commercial buses, and Workhorse® brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine parts and service. Another affiliate offers financing services. Additional information is available at www.Navistar.com/newsroom.