Stellar Industries, Inc. announced that it has entered into a Letter of Intent to purchase the assets of American Crane, Incorporated (ACI) and Tire Trucks International (TTI).
ACI and TTI are located in Garner, Iowa, and are led by John Collins, president and owner. Collins has been a dedicated leader in the tire service industry and has been inducted into The Tire Industry Association Hall of Fame. The acquisition allows Stellar to capitalize on his industry contributions and his reputation, according to Stellar.
The purchase of ACI’s and TTI’s assets fits well with the commitment and success Stellar continues to have in the Tire Service Truck industry. The physical location is also in close proximity to the current Stellar facilities which should assist with a smooth transition.
“We have had an ongoing relationship with John over the years and we are pleased that he has chosen us to acquire his businesses,” said Dave Zrostlik, president of Stellar Industries. “John has been very instrumental to the tire service industry and we look forward to building upon his legacy as he begins his transition into retirement.”
Closing and integrating operations is expected to take place within 90 days.