FleetPride Completes Acquisition of Midway Truck Parts

THE WOODLANDS, Texas, May 2, 2011 /PRNewswire/ -- FleetPride, Inc., the nation's largest independent aftermarket distributor of heavy-duty truck and trailer parts, announced today that the acquisition of Midway Truck Parts is complete. The acquisition includes 13 Midway Truck Parts locations in Illinois and one in St. Louis, Missouri; four of the Illinois locations offer drive-in service. The St. Louis location has moved into FleetPride's St. Louis branch located at 8000 Hall Street. The Midway Trailer Sales & Service division is not part of this purchase agreement and will continue to operate as a separate company.

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Midway Truck Parts was founded in 1978 by Pete Pasdach, President and Rich Murawski, Vice President. Pasdach will stay on as Regional Vice President of FleetPride's Midwest Region and Murawski will stay on as General Manager for the Bridgeview location. Employment offers were extended to all operational employees and over 150 accepted, many of whom are now assuming management roles with FleetPride.

"FleetPride's acquisition strategy centers around identifying strategic markets for expansion and partnering with independent distributors in those markets who are seeking to divest ownership of their business as part of their succession plan. The Midway deal is a clear example of how we employ this strategy and how the continuity of operations favorably impacts employees and customers," explained Mike Paxton, FleetPride's VP of New Business Development.

"The 'people' component of any acquisition is the critical factor. Pete, Rich and their teams bring a proven history of heavy-duty truck parts expertise and a dedicated focus to serving our customers in these markets. The Midway acquisition brings a depth of talent at 14 locations as well as a large geographic presence that will complement our St. Louis and Willowbrook teams. The fact that we can open our doors on day one as FleetPride and be backed by local Midway team members is a significant advantage," said Lee Stockseth, FleetPride's Chief Operating Officer.  

"We are thrilled to welcome the Midway Truck Parts employees to the FleetPride family. To be able to increase our reach while simultaneously filling our ranks with experienced personnel and management team members is the true fulfillment of FleetPride's growth strategy. As I reflect on the past year and a half and see where we are today, I can only tell you how proud I am of the teamwork and effort from all of our FleetPride employees across the country who are responsible for the execution of this strategy," said W.M. McGee, FleetPride's President and CEO.

About FleetPride, Inc.

FleetPride, Inc. (www.fleetpride.com) — America's premier nationwide supplier of heavy-duty truck and trailer parts — operates over 220 locations in 40 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.

About FleetCare by FleetPride

FleetCare (www.fleetcare.info) — FleetPride is proud to offer an exclusive partnership for qualified businesses through its FleetCare affiliation program. In addition to FleetPride's company-owned locations, the FleetCare network, with over 215 heavy-duty truck and trailer centers, services all makes and models, employs highly-trained technicians, provides brand-name parts, extends a nationwide parts warranty program and offers roadside assistance.

SOURCE FleetPride, Inc.