FleetPride, Inc. has acquired the assets of six locations owned by Pardo's Truck Service Parts Warehouse, Inc. in the New Jersey, Pennsylvania and Maryland markets. Pardo's will retain its Kearney, New Jersey, location and FleetPride will serve as a supplier to the location.
"This acquisition is strategically important to FleetPride because it allows us to increase our locations rapidly in the northeastern U.S. market," said Kevin Peters, CEO of FleetPride. "Expanding our presence in the region is an important part of our national growth plan for 2015."
"We're building our company to provide the right products to our customers at the right times and in the right places, supported by team members who deliver outstanding service," added Peters. "By working closely with key suppliers and leveraging our distribution capabilities, we're also ensuring that we offer superior value in all our stores."
Dominick Pardo, owner of Pardo's, said, "The Pardo's business was started by my father Joseph R. Pardo in 1981 and grew to serve customers across three states. We are very proud of that legacy. FleetPride has an appreciation for the dedication and years of local expertise of our employees, many of whom have worked in the business since my father ran it, so we're confident this is a positive move for everyone."
The Pardo's acquisition builds upon FleetPride's record-setting growth in 2014 with sales that surpassed $1 billion. The company's ongoing focus on the northeastern U.S. market includes the acquisition of Ryan Industrial Supply in southwestern Pennsylvania in late 2014.
"In 2015, we'll continue to take advantage of opportunities regionally and nationally to increase our market leadership," said Peters. "Our goal is to make FleetPride the most trusted resource for heavy-duty aftermarket products and service for our customers across the country."