Recent News
Rihm Celebrates Anniversary with Acquisition
February 14, 2017
Rihm Family Companies (RFC), owner of one of the oldest Kenworth truck dealers in the world, kicked off its 85th anniversary by acquiring LTX, Inc., which owns Lawrence Leasing Inc., the operator of Lawrence NationaLease – a commercial truck leasing company with 15 locations in Minnesota, Wisconsin, and South Dakota.
In addition, RFC announced plans to build new facilities in South St. Paul and Coon Rapids, Minnesota, where the family-owned business will sell and service Kenworth trucks.
“Since 1932, the Rihm family has provided great jobs and exceptional customer service in Minnesota and western Wisconsin,” said Kari Rihm, president and CEO of RFC. “We’re pleased to begin our 85th year in business by welcoming Lawrence NationaLease’s high-caliber employees and management; providing better security for all of our employees; and improving service and offerings for our loyal customers. Our company’s future is very bright.”
As a result of the acquisition, RFC’s workforce will total more than 300 employees and operate at 21 locations in Minnesota, Wisconsin, and South Dakota. As part of the deal, RFC also acquires more than 1,000 full-service lease and rental units and an additional 600 units under contract maintenance agreements.