Kenworth Dealer Rihm Acquires LTX Inc.
Kenworth dealership Rihm Family Cos. Inc. said it acquired LTX, Inc., which owns Lawrence Leasing Inc., the operator of Lawrence NationaLease – a commercial truck leasing company with 15 locations in Minnesota, Wisconsin, and South Dakota.
As a result of the acquisition, RFC’s workforce will total more than 300 employees and operate at 21 locations in Minnesota, Wisconsin and South Dakota, and the company acquires more than 1,000 full-service lease and rental units and an additional 600 units under contract maintenance agreements, according to the Saint Paul, Minnesota-based company.
In addition, RFC — which has been a Kenworth dealer since 1949 and in business for 85 years — announced plans to build a new headquarters in South St. Paul and a service facility in Coon Rapids, Minnesota, the company said.
“Since 1932, the Rihm family has provided great jobs and exceptional customer service in Minnesota and western Wisconsin,” Kari Rihm, president and CEO of RFC, said in a statement. “We’re pleased to begin our 85th year in business by welcoming Lawrence NationaLease’s high-caliber employees and management, providing better security for all of our employees and improving service and offerings for our loyal customers. Our company’s future is very bright.”
