Rush Enterprises and MCT Companies form strategic joint venture

NEW BRAUNFELS, Texas and OMAHA, Neb., Rush Enterprises, Inc., the largest network of commercial vehicle dealerships in North America, and MCT Companies, one of the largest Carrier Transicold dealers in the United States, have completed the formation of a strategic joint venture. Effective August 31, 2026, both companies own 50 percent of MCT Holdco, LLC, which will continue to operate under the name “MCT Companies.”

The joint venture will manage MCT Companies’ network of 17 Carrier Transicold full-service dealerships and three mobile service locations across California, Nebraska, Kansas, North Carolina, South Carolina, and Virginia. MCT Companies, led by CEO and President Bill Willett, will continue to operate as a separate entity, focusing on sales, parts, and service for Carrier Transicold’s truck, trailer, and rail refrigeration systems and auxiliary power units. The company also offers refrigerated trailer rentals and mobile service.

Rush Enterprises, through its investment in MCT Companies, is expanding its portfolio to include Carrier Transicold’s premium transport refrigeration products and services. This strategic partnership brings together the technology, operating systems, and expertise of both organizations with Rush Enterprises’ scale and financial resources. The joint venture aims to support the continued growth of MCT Companies and enhance service capabilities for refrigerated transportation customers.

W.M. “Rusty” Rush, Chairman, CEO, and President of Rush Enterprises, Inc., stated, "I am pleased to announce the closing of our investment in MCT Companies. This transaction represents Rush Enterprises’ first investment in a dealership group that is not focused on commercial vehicle sales, and we believe that the closing of this transaction is an important step in our ability to achieve growth through investments in businesses that are adjacent to the commercial vehicle market."

Rush added, "I have the utmost confidence in Bill Willett and the MCT team, and I am excited to begin putting the strengths of both companies to work to support our customers, grow the business, and create long-term value for our shareholders."

Bill Willett, CEO and President of MCT Holdco, LLC, expressed, "This joint venture marks an exciting new chapter for MCT Companies and our employees. Our partnership with Rush Enterprises gives us access to additional resources, technology, and scale while allowing us to build on the culture, customer relationships, and transport refrigeration expertise that have made MCT Companies successful. With the transaction now complete, we can begin making the investments necessary to accelerate our long-term growth strategy and to better serve our customers and employees."

Rush Enterprises, Inc., operates as the premier solutions provider to the commercial vehicle industry, with over 160 locations in 24 states and Ontario, Canada. These centers offer an integrated approach to meeting customer needs, including sales of new and used vehicles, aftermarket parts, service, and body shop operations, plus financing, insurance, and leasing and rental solutions. Rush Enterprises also provides CNG fuel systems, telematics products, and other vehicle technologies, as well as vehicle modification and upfitting, chrome accessories, and tires.

MCT Companies, established in 1986, is one of the largest Carrier Transicold dealers in the United States. The company employs over 220 people and operates 17 full-service locations and three mobile service locations in California, Nebraska, Kansas, North Carolina, South Carolina, and Virginia. MCT Companies was named Dealer of the Year for the United States and Canada by Carrier Transicold in 2024.

Certain statements in this press release, including those concerning the formation of the joint venture, are forward-looking and subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied.