IRVING, Texas, March 12, 2014 /PRNewswire/ -- FleetPride, Inc., the nation's largest independent distributor of aftermarket heavy-duty truck and trailer parts, announced today that it has entered an agreement to acquire the assets of Ott's Friction Supply, Inc. With a targeted closing date of March 17, 2014, this acquisition will include operations at locations in Portland and Eugene, Oregon and is part of FleetPride's larger market strategy. FleetPride is also expanding its presence in the market through new store openings. A new facility ("greenfield") in Tualatin/Sherwood, the southern part of the greater Portland area, is slated to open in the second quarter of 2014.
"Portland is a strategic market for FleetPride because of our unwavering commitment to serve our customers. Expanding our footprint, both through acquisition and greenfield activity, allows us to offer our customers more distribution options to deliver product when and where they need it," explained Kevin Peters, CEO, FleetPride.
Ott's Friction Supply has a long rich history dating back to its origins in 1925 and has been owned and operated by Jerry Weis, CEO and Chris Sweet, President since 1999. "Through Jerry and Chris' leadership, Ott's has extended its stellar reputation in this market of superior customer service, technical support, and a knowledgeable and experienced inside and outside sales team," Peters continued.
"We remain committed to growing our business through a broad assortment of quality brands, industry-leading product availability, and expanding our footprint in key markets throughout the U.S.," said Peters. "As with Tualatin and Ott's, we will continue to pursue similar opportunities to better serve our customers."
"We are excited to welcome the Ott's employees to the FleetPride family. This combination of people, products and relationships positions us to be THE choice in meeting our customers' needs in the greater Portland, Eugene and Salem markets. I am very proud of our FleetPride team members throughout the country who remain focused and committed to saying "Yes" to serving our customers each and every day," said Peters.
About FleetPride, Inc.
FleetPride, Inc. (www.fleetpride.com) — America's premier nationwide supplier of aftermarket heavy-duty truck and trailer parts — operates over 250 locations in 45 states and carries a full line of nationally-recognized, brand-name parts, as well as an assortment of exclusive-brand parts. In addition, FleetPride offers in-house remanufactured products such as brake shoes and driveline components. Truck and trailer repair services are also offered at a number of locations.
SOURCE FleetPride, Inc.
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