Nancy Phillips Associates is pleased to announce the sale of the Western Star franchise of O’Connor Trucks in Augusta, Maine to Freightliner of Maine, Inc., owned by the Cook Family Group of the United States and Canada.
Nancy Phillips Associates is pleased to announce the sale of the Western Star franchise of O’Connor Trucks in Augusta, Maine to Freightliner of Maine, Inc., owned by the Cook Family Group of the United States and Canada.
The Cook Family Group operates heavy duty truck dealerships with multiple locations throughout the state of Maine and is also Atlantic Canada’s largest truck and trailer dealership retailer.
With an eye toward the consolidation movement taking place within the heavy duty truck industry, Randy Hutchins, owner of O’Connor Trucks, implemented a forward thinking strategy to divest of his heavy duty franchises early on. To that end, he has now sold not only the Western Star franchise, but also his other four heavy duty franchises. Hutchins is also the owner of one of Maine’s top selling General Motors dealerships and is now focusing on the continued expansion of that business.
The heavy duty truck industry is currently undergoing rapid consolidation throughout the United States, similar to trends taking place in both the tire center and collision industries. Manufacturers are aggressively working toward a reduction in dealer count in an effort to strengthen their largest investors, while also improving overall financial stability and operational health within their networks.
Nancy Phillips Associates, representing the Seller, served as the advisor responsible for this transaction.
