Performance Brokerage Services, North America’s highest volume dealership brokerage firm, is pleased to announce the sale of HFI Truck Center in Mountainside, New Jersey to Allegiance Trucks.
HFI Truck Center (HFI), a family-owned dealership established in 1930, originally specialized in distributing milk trucks. Today, HFI focuses on Isuzu commercial trucks and has proudly served as an Isuzu dealer for over 30 years. As one of the few standalone Isuzu dealers in the country, HFI has earned Isuzu’s prestigious Circle of Excellence Award every year since the program began.
After the sale, Kerry Webb, President of HFI Truck Center, commented, “My family and I had the opportunity to meet Dan Argiro with Performance Brokerage Services during a previous acquisition he was representing. Dan sat down with our family and walked us through the opportunity from a buying perspective; that was years before we decided to sell our dealership. Dan always says that ‘life happens.’ When we were ready, which was never when we expected it, we called Dan to explore the idea of a sale and what that would look like for our family, our business, and our employees. After talking things over, we decided to hire Dan and his team to represent us in the market. There were a lot of challenges along the way, including a shift in the economy and an administration change in our nation’s capital. Through it all, Dan and his team were there for us — countless calls, meetings, and constant communication. We are excited for the Allegiance team to continue the legacy of our dealership. My wife and I are looking forward to retirement and spending time with our family and grandchildren. This transaction would not have been possible without the relentless efforts and persistence of Dan Argiro and his team at Performance Brokerage Services.”
Over the last 5 years, Performance Brokerage Services has advised on the sale of over 300 dealerships, making it the highest volume dealership brokerage firm in North America. Dan Argiro and Pat Albero, Senior Partners of the Commercial Truck & Equipment Division for Performance Brokerage Services were the exclusive sell-side advisors for this transaction.
Dan Argiro shared, “Kerry Webb first contacted me about a dealership we were representing for sale. He and his family were looking for an acquisition at the time, and I had the pleasure of meeting everyone and getting to know them. Over the years, things changed, and Kerry was leaning towards retirement. He had reached out again, this time looking to explore the idea of selling. After our team guided him through our process and he talked things over with his family, he hired us to represent his dealership for sale. We have known the team at Allegiance Trucks since they entered the commercial truck industry. Strategically, the acquisition of HFI Truck Center made perfect sense for them, and we worked diligently to ensure the success of the transaction. It is with great pleasure that we were able to help Kerry execute the sale of his dealership, and we wish him many years of joy and success in retirement!”
Allegiance Trucks is an authorized dealer for International, Hino, Isuzu, and Ford, with 39 locations across 9 northeastern states. Mike Bozzoli, Chief Executive Officer of Allegiance Trucks commented, “This acquisition marks a significant milestone in our growth strategy and expands our ability to deliver the exceptional service and solutions our customers expect. We are thrilled to strengthen both our Isuzu presence and our foothold in New Jersey and the Greater New York City metro area, a key market for the transportation industry. By extending our footprint, we continue to build on our reputation as a trusted partner, offering top-tier truck sales, service, and parts to businesses across the region.”
HFI Truck Center will be renamed Allegiance Trucks and will remain at its current location at 1463 U.S. Highway 22 in Mountainside, New Jersey.
