KAHUKU, Hawaii (Feb. 16, 2017) — Tire service truck supplier Stellar Industries Inc. is buying the assets of fellow service truck producer American Crane Inc. (ACI) and Tire Trucks International (TTI).
Stellar Industries and ACI/TTI disclosed at the 2017 Tire Industry Association OTR Conference in Kahuku that they've signed a letter of intent covering the deal.
The companies, both based in Garner, Iowa, expect the deal to be completed within 90 days. Financial terms are not being released.
Employee-owned Stellar Industries was founded 27 years ago, while ACI was established by industry veteran and innovator John Collins 21 years ago. ACI has become known as a supplier of re-manufactured used OTR equipment supported by new equipment-level warranties.
ACI also has developed a line of OTR tire-handling equipment and produces custom-designed OTR service trucks for a worldwide market.