The private shareholders of Vanguard Truck Centers (Vanguard) have sold the company to Stephens Capital Partners (Stephens) for an undisclosed consideration.
Founded in 1933, Stephens is a privately-held, independent financial services firm focused on building value for companies, state and local governments, institutions and high-net-worth investors. The company is headquartered in Little Rock, Arkansas, with offices in leading cities across the USA.
Vanguard offers one-stop sales and increasingly tech-enabled services to customers, including new and used truck sales, aftermarket parts, service and repairs, leasing and rental, and financing and insurance products.
One of Oaklins' teams in the USA served as the exclusive financial advisor to Vanguard Truck Centers in this transaction.
Tom Ewing, President and CEO at Vanguard Truck Centers, said: "In our business, I preach commitment to our customers every day. The team demonstrated the same relentless commitment to us that I expect of the Vanguard organization. For nearly a year, we worked together to achieve a set of important objectives for our business and our family. And despite what proved to be a rapidly changing and challenging industry environment, we were able to engineer a superior outcome; one that provides our family with liquidity and our leadership team with an institutional partner focused on supporting us for the long term to exploit the many growth opportunities ahead for Vanguard. At our first meeting, they talked about a "walk through the walls" approach to advising our business, and they more than lived up to that standard, For any entrepreneur-owned company seeking world-class advice, access and execution, I would recommend them without reservation."
© Oaklins, all rights reserved. Oaklins refers to Oaklins International Inc. and/or one of its member firms, each of which is a separate legal entity. Please see www.oaklins.com/legal for further details.