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going to get out of the United States.” that I was going to rep their product ‘this looks like a smooth transition. The
Rick had no trouble convincing his accordingly, sell enough equipment for private equity group is going to buy all
dad to help put up the money to buy them, and be a good representative in of them, so it’s going to be a done deal.
the dealership. The only caveat was that this marketplace. Thanks for your time,’” Rick says of the
Larry did not want to run the day-to-day “I did have a history with them, deal slipping through their hands.
business. He already had a day-to-day but as far as being in ownership, I did However, by May, the private
job. He left all of that to Rick and Todd. not have experience. I had to go out group had not moved on the deal, and
Todd was confident. “I knew the and convince them. And with a lot of Barloworld was ready to close shop.
business. It was more gutsy for them help from our customer base, Steve Todd and Rick worked with a group
than it was for me. I had been in the Williams, John Culp and Stephen Selig in Memphis and another group in
business for 10 years. I had run the at Maverick supported me. I used to be Texarkana to split the stores between
stores for about 4 years, so I kind of their sales guy, and Mike Jeffress was them.
knew the Ins and Outs. It was really instrumental in helping me get this “We went in collectively and put a
kind of a leap of faith for them or for his dealership. plan together. The group in Texarkana,
dad, Larry, to stick his future in with me “Some of our customer base, the Tyler, Shreveport was already an existing
and running this company,” he says. guys at USA Truck and PAM were in Freightliner dealer.
Though it wasn’t too hard inspiring our corner a lot, and I used that when I “We worked together as three
faith from Rick and Larry Vassar, Todd went up to make my presentation, say- ownership groups, and then went to
had to get approval from Freightliner to ing I have all these customers that are Barloworld to say, ‘we will do three pur-
gain ownership. supporting me,” Todd says. chase agreements, three wire transfers,
“It was pretty exhilarating when we It all looked like it was going to but it will all be simultaneous. So it will
were trying to buy this thing. happen, too. But the owners went to look like all one transaction to you.’”
“I had to fly out to Portland and Todd and Rick in March and said that This time, no private equity group
get in front of the executive committee a private equity group had made an swooping in, no more hurdles. The only
and make presentation after presenta- offer for all the stores. “The Barloworld catch? 45 days.
tion. Basically, they wanted to know president came back to us and said, 

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ArkAnsAs truckIng rePort | Issue 6 2015 27