Rush Enterprises Inc. (Nasdaq: RUSHA & RUSHB) has completed the previously announced sale of the assets of its John Deere construction equipment dealerships to Doggett Heavy Machinery Services LLC for $26.2 million.
“The closing of this transaction generates substantial proceeds that will allow Rush Enterprises to continue to invest in our current businesses as well as look to add new, well-positioned acquisitions,” said W. M. "Rusty" Rush, President and Chief Executive Officer of Rush Enterprises, Inc.
“As we said in June, we believe that the company proved it can apply its organizational knowledge of serving commercial customers to distribute products other than commercial trucks. We will continue to evaluate opportunities to re-enter the construction equipment dealership business in other areas of the country.”