IOP portfolio company Monroe Truck Equipment acquires Southern Coach
Monroe Truck Equipment, a portfolio company of operations-focused private equity firm Industrial Opportunity Partners (IOP), has acquired Southern Coach. Terms of the transaction have not been disclosed.
Southern Coach is a commercial and custom vehicle upfitter. The Company offers upfitting services for Chevrolet, GMC, Ford and RAM trucks, providing work-ready vehicles to original equipment manufacturer (OEM) dealerships across the Southeast.
The addition of Southern Coach to the family of Monroe brands provides customers in the region access to expanded services and capabilities, as well as greater access to Monroe’s commercial work truck platforms, bailment pools and national ship-thru capabilities. Monroe now has eight facilities throughout the US.
“We are excited about the opportunities this acquisition creates for commercial work truck customers and our combined businesses,” says Tom Ninneman, CEO of Monroe. “The Southern Coach brand has been built by helping its OEM partners and customers sell more – aligning perfectly with us. I am impressed with the Southern Coach team and their track record, knowing we will provide additional resources to fuel their continued growth.”
Andy Weller, Chairman of Monroe and an IOP Operating Principal, says: "This strategic acquisition combines Southern Coach’s experience and presence in the Southeast with Monroe’s national scale, further strengthening Monroe’s brand and product offering."