HOUSTON--(BUSINESS WIRE)--Houston-based Leslie Doggett Industries through its Doggett Truck Group has acquired privately-held Truck Centers of Arkansas, giving Doggett distribution rights for all Freightliner and Western Star branded trucks and parts for most counties in the State of Arkansas with full service sales and leasing dealerships in Little Rock, Fayetteville and Van Buren. Doggett will operate these dealerships under the name Doggett Freightliner of Arkansas. Sources familiar with the transaction report the purchase price to be $103+ million. Doggett’s General Counsel, William Doggett, said, “the Doggett Truck Group, headed by Paul Burk, will bring a new intensity to the Arkansas dealerships. We have a long history of buying companies and dramatically improving morale, processes, and market share growth, all through a laser focus on customer service. This acquisition is particularly exciting for Doggett, because we know exactly how to improve these dealerships.”
- Category: News
Leslie Doggett, CEO and owner of Houston-based Doggett Industries, sorted rocks as his first job. It wasn't fun.
When he was 13, Doggett followed his dad, a plaster contractor, out to Houston construction sites and picked up big and small rocks to hand over to workers creating plaster. Years later, Doggett realized while attending the University of Texas at Austin that he didn't want to work on construction sites doing what his father did. He wanted to build something big.
After leaving his job in the oil and gas business, Doggett returned home and met up with his business partner, Brady Carruth, in Houston in 1993. The two heard about a deal over lunch at a Chinese restaurant with a mergers and acquisitions lawyer. The lawyer told them that Toyota Lift of Houston, a forklift dealer, was for sale. The company employed 18 people, was underperforming and was going for book value. Doggett didn't have enough money, so Carruth financed both halves of the company himself and the ownership was split 50-50.
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