Area of Focus Commercial Truck Dealerships
Partnership Date 2019
Headquarters Whittier, California
We determined that we would benefit from a partner to fully capture our opportunities at Velocity. We selected Cranemere, and together we have expanded from our base in the Western U.S. to Australia, Mexico, Western Canada, and the Southeastern U.S. and have nearly tripled the size of the business.
Company Profile
One of the largest full-service truck dealerships in the World
Velocity Vehicle Group (“Velocity”) is one of the premier full-service commercial truck dealership groups in the U.S., Australia, Mexico, and Western Canada with operations that include new and used commercial vehicle sales, service, parts distribution, and vehicle rental and leasing.
Velocity operates a network of state-of-the-art dealerships and service facilities across California, Nevada, Arizona, Tennessee, North Carolina, Alabama and Kentucky, and in Australia, Mexico, and Western Canada with a total customer focus based on the three company pillars of speed, value and trust. The company is a leading distributor for several original equipment manufacturers, including Daimler (through its Freightliner, Wester Star, Rizon, and Thomas Built Buses brands), Ford, and Autocar, among others. Velocity focuses on medium- and heavy-duty trucks.
Velocity is a leader in implementing emissions-reducing vehicle technologies, including natural gas, cleaner diesel and electric. The company’s strong position in Southern California provides it with leading access to these technologies.
Velocity is based in Whittier, California. The company has 3,500 employees in 78 locations worldwide for dealerships and leasing. Velocity was founded by Brad Fauvre and Conan Barker in 1998.
Partnership Highlights
- Cranemere partnered with the founders of Velocity in July 2019 to recapitalize the business.
- Velocity’s founders were looking for a partner to help the company capture its full potential by supporting management and accelerating its global expansion plans.
- Since the Velocity and Cranemere partnership, the company has completed several acquisitions and expanded from its base in the Western U.S. to the Southeastern U.S., Australia, Mexico, and Western Canada. It has nearly tripled the size of the business.