Stellar signs letter of intent to purchase ACI
Stellar Industries, Inc. has entered into a letter of intent to purchase the assets of American Crane, Incorporated (ACI) and Tire Trucks International (TTI).
ACI and TTI are located in Garner, Iowa and are led by John Collins, president and owner. John has been a dedicated leader in the tire service industry and has been inducted into The Tire Industry Association Hall of Fame. The acquisition allows Stellar to capitalize on his industry contributions and his reputation.
The purchase of ACI’s and TTI’s assets fits well with the commitment and success Stellar continues to have in the Tire Service Truck industry. The physical location being in close proximity to the current Stellar facilities also bodes well to a successful transition.
“We have had an ongoing relationship with John over the years and we are pleased that he has chosen us to acquire his businesses.” says Dave Zrostlik, president of Stellar Industries. “John has been very instrumental to the tire service industry, and we look forward to building upon his legacy as he begins his transition into retirement.”
Closing and integrating operations is expected to take place within 90 days.
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