Fremont Private Holdings And Management Acquire Hunter Truck
BUTLER, PA,… Hunter Truck (“Hunter” or the “Company”), a commercial truck dealership group with 19 locations, has been acquired by Fremont Private Holdings (“FPH”) and current CEO, Jeff Hunter, from various Hunter family members.
Hunter was founded in 1938 when Homer Hunter opened a small service station in the rural town of Eau Claire, PA. In 1950, Hunter Truck began operating several commercial truck dealerships. Peterbilt took notice of Hunter’s progress and in 1983 awarded Hunter a Peterbilt franchise. Today, the Company has grown to become one of the largest heavy truck dealership groups in the country with operations in four states (Pennsylvania, New York, West Virginia, and New Jersey). Since inception, Hunter has been run as a family business with an emphasis on quality products and customer service.
Hunter will continue to be led by CEO Jeff Hunter, who commented, “We spent a lot of time looking for the right partner to help us grow the Hunter business. We feel fortunate to have found FPH. The FPH team shares our values and has a long history of working closely with management teams to build businesses.”
According to Scott Earthy, Managing Partner of FPH, “It has been a pleasure working with the Hunter family through this transaction. We wish them well in their next endeavors. We are excited to start our partnership with Jeff Hunter and the management team as the Company continues to serve all its stakeholders – employees, customers, suppliers, and our OEM partner, Peterbilt.”
Andrew Bronzo, Principal of FPH, added, "Hunter Truck is an exceptional business with a strong culture and an industry leading team. We look forward to growing the business organically and through acquisitions over the long term."
Raymond James served as exclusive financial advisor and Evans Petree served as legal counsel to Hunter Truck on the transaction. Goodwin Procter served as legal counsel to Fremont Private Holdings on the transaction.
For more information on Hunter Truck, please visit www.huntertruck.com.
Fremont Private Holdings is the direct private investment arm of Fremont Group®, the family investment office for the Bechtel family. Bechtel Corporation, the family’s engineering and construction business, was founded in 1898 and has grown to become one of the largest family-owned businesses in the United States. FPH strategically partners with founder and family-owned middle market businesses with a long-term investment horizon. For more information, please visit www.fremontprivateholdings.com.