Five Star International, LLC Acquires Noerr’s International, 2 Locations in Pennsylvania
January 5, 2022
Performance Brokerage Services Advises on the Sale of Noerr’s International, 2 locations in Pennsylvania, to Five Star International, LLC
Performance Brokerage Services, the leader in dealership buy-sell activity, announces the sale of Noerr’s International, a commercial trucking dealership with 2 locations in Pennsylvania, from Edward and Thomas Noerr to Five Star International, LLC.
Performance Brokerage Services, North America’s highest volume dealership brokerage firm, is pleased to announce the sale of Noerr’s International, a commercial trucking dealership with locations in Lewistown and Milesburg, Pennsylvania from Edward and Thomas Noerr to Five Star International, LLC.
Established in Lewistown in 1937, Noerr’s International has been serving central Pennsylvania with full-service truck sales, parts and service departments for nearly 85 years. The dealership was established by the Noerr Family and has remained family-owned and operated since inception. A second location was added in 2008 in Milesburg, that was built to serve the Centre County area.
Ed and Tom Noerr, brothers and 4th generation owners, have decided to retire after spending more than 50 years in the family business. Following the sale, Tom Noerr commented, “We first heard about Dan Argiro and Pat Albero from Performance Brokerage Services after their recent sale of another International dealer. They came highly recommended, and we felt it was the right time for us to exit the business. From the beginning, they set the expectation that they would be available 24/7. Their process from start to finish was extraordinary. Their knowledge of how this all works is second to none. They ask the right questions to get the best deal for their clients, and getting this deal done in record time was outstanding. We highly recommend Dan and Pat if you’re considering buying or selling a dealership. My brother and I are now looking forward to our retirement.”
Over the last 5 years, Performance Brokerage Services has advised on the sale of over 250 dealerships, making it the highest volume dealership brokerage firm in North America. In 2021, the company consummated 72 transactions, marking a record-breaking year. Dan Argiro, Partner and a Director of the Commercial Truck & Equipment Divisions for Performance Brokerage Services, commented, “When my business partner, Pat Albero, and I met Tom and Ed Noerr, we knew that we shared many of the same values as business owners. Tom and Ed were family-oriented, customer-focused, and cared a lot about their employees. As generational business owners, the brothers ran Noerr’s as a business that was a part of the community. Tom and Ed had heard about our advisory role in the sale of Tri-County International a few months earlier. They were looking for an advisor that could help them maximize the value of their dealership without compromising confidentiality. It was important for Tom and Ed to find the right buyer who would take care of their team and invest in the company and community. After a diligent search and many discussions, Fred and John Scheler proved to be the best partner to take over the business and continue the connections with the team, customers, and the community. Pat and I are thrilled to introduce Tom and Ed Noerr into retirement to pursue their interests and invest their time in whatever directions they choose. It has been an honor to work with them throughout the process.”
Five Star International Trucks, Inc. was established in 1974 by Peter F. Scheler in Erie, Pennsylvania. The company quickly grew to become a premier transportation solutions provider in Northwestern Pennsylvania, receiving numerous awards offered by Navistar over the years, including the Circle of Excellence award in 1995.
In 1997, Five Star International, LLC was formed by Scheler along with his sons Fred and John. By 2006, the company expanded to include seven dealership locations across the state of Pennsylvania, offering a wide variety of franchises and one of the largest International parts departments in the Northeast. Despite the company’s rapid growth, Five Star International, LLC remains family-owned and operated with the Scheler Family actively running the day-to-day operations, supported by a team of more than 250 employees.
Following the sale, Fred Scheler commented, “This is our second acquisition with Performance Brokerage Services. Dan Argiro and Pat Albero remained involved throughout the entire process to the deal’s completion. In our experience, they are honest, ethical, and committed to their clients. We executed this transaction in record time, and it happened because the right people came together. We would recommend Dan and Pat at Performance to other dealers looking to buy or sell a dealership.”
The dealerships will remain at their current locations at 700 US Highway 22 in Lewistown and 1220 North Eagle Valley Road in Milesburg, Pennsylvania, expanding Five Star’s geographic market into the greater State College area.