Categorized | IN OUR COMMUNITY

Rihm adds major acquisition to start its 85th year

Posted on 06 February 2017 by Calvin

Rihm Family Companies also building two new facilities and puts University Ave. property up for sale

Rihm Family Companies, Inc. (RFC) – owner of one of the oldest Kenworth truck dealers in the world – kicked off its 85th anniversary by acquiring LTX, Inc. LTX owns Lawrence Leasing Inc., the operator of Lawrence NationaLease, a commercial truck leasing company with 15 locations in Minnesota, Wisconsin, and South Dakota.

Feat7_14Rihm1RFC, 2108 University Ave. W., also announced plans to build new facilities in South St. Paul and Coon Rapids, where the family-owned business will sell and service The World’s Best® Kenworth trucks.

Photo right: Kari Rihm stands in front of one of the trucks her company sells, as son JB and daughter Libby join her. (File photo)

“Like Rihm, Lawrence NationaLease has been family-owned and operated for multiple generations, and is a leader with a trusted legacy in the truck leasing and rental market,” said Steve Lawrence, former CEO of Lawrence NationaLease. “Our employees and assets are in extremely capable hands under the leadership of Kari Rihm and her family. This acquisition is a win-win for both of our companies.”

Lawrence NationaLease is a 15-location truck leasing company headquartered in Red Wing. Its 110 employees and management team will all remain employed under RFC’s ownership. Steve Lawrence will serve RFC as a consultant. Other Minnesota locations include Owatonna, Rochester (two locations), Sauk Centre, Winona, Northfield, and Cloquet; Wisconsin locations include Barron, Durand, Eau Claire/Chippewa Falls, LaCrosse, and Madison; and South Dakota locations include Volga/Brookings and Sioux Falls. For more information, visit lawrencenl.com.

RFC’s new facility in South St. Paul at Concord Blvd.. and Armour St. totals 68,000-square-feet and will serve as RFC’s new headquarters and offer sales, parts, and service. A new location in Coon Rapids near Highways 610 and 47 totaling 75,000-square-feet will serve as a body shop, in addition to offering sales, parts, and service.

Construction of both facilities will run on concurrent schedules, with groundbreakings planned for spring 2017 and grand openings in late 2017.

RFC is currently in the process of selling its Saint Paul facility on University Ave. There will be no changes to the company’s other facilities in Minnesota (Albert Lea, Sauk Centre, Lake Elmo, and Bemidji) or its Superior, Wisconsin, facility.

For more information on Rihm Family Companies, visit rihmkenworth.com.