Truckipedia Blog Category - First Industries Corporation Acquires Premium Truck and Trailer
EDMONTON, AB (April 1, 2022) – First Industries Corporation (“First Industries Corporation” or “Velocity Truck Centres”), a multi-location Western Canadian heavy duty DTNA truck dealership group, announced today that it has completed the acquisition of Premium Truck and Trailer Inc. (“Premium”) as well as Alliance Leasing Ltd. and Velocity Truck Centres Collision Centre Ltd. (related companies under common control to Premium).
Headquartered in Prince George, British Columbia, Premium has a long and diverse history in the truck and trailer repair business across the interior region of British Columbia. The company started life back in 1967 as Inland Diesel, a small truck repair shop specializing in diesel engine repairs, before taking its current name as it grew. The addition of Premium, a 55-year-old business deeply rooted in the region with just under 200 long term and loyal employees, only strengthens the Velocity Truck Centres platform across the province of British Columbia.
Premium not only adds to our Daimler Truck Family of Freightliner, Western Star and Thomas Built Bus product, but they also bring a solid trailer history with Lode King and K-Line product lines.
The purchase of Premium Truck and Trailer further increases Velocity Truck Centres’s ability to offer a full range of products and services throughout Western Canada, specifically Northern and Central British Columbia. “The combination of Velocity Truck Centres and Premium Truck and Trailer will provide our clients access to more parts, and a better customer experience throughout the critical transportation corridor that connects the Port of Prince Rupert to Edmonton, Alberta.” says Rod Graham, President and CEO of Velocity Truck Centres. “The acquisition is also expected to result in greater efficiencies and significantly decrease customer downtime.”
“I view the transaction as a good cultural fit between our two organizations and it solidifies the DTNA dual branding strategy with Freightliner and Western Star product and service offered across the interior of the province” says Tom Coffey, President and CEO of Premium.
Following the combination of Premium and Velocity Truck Centres the Company will be the largest DTNA dealer in Western Canada with 13 rooftops well situated in 9 communities across British Columbia and Alberta.