“Tidewater Fleet Supply is a fast-growing, first-class operation and a welcome addition to the Network’s roster of shareholders,” said David Prater, president of the Network. “This latest signing greatly enhances the Network’s footprint throughout the Southeast.”
Founded in 1953, Tidewater Fleet Supply is a leading independent distributor of more than 135 lines of brand-name, heavy-duty truck and automotive parts to commercial and municipal customers in its markets. Operating out of five warehouses in Norfolk, Chesapeake, Hampton, Virginia Beach and Richmond, Tidewater Fleet Supply’s 36 delivery vehicles deliver to most of its customers on an hourly basis.
Earlier this year, Tidewater Fleet Supply acquired Atlanta-based TNT Parts, a heavy-duty supplier with additional locations in Savannah and Dublin, Georgia; Charlotte, North Carolina; and Jacksonville, Florida; and its own fleet of 35 delivery vehicles serving those areas.
“Joining the Network as a shareholder makes sense as Tidewater Fleet Supply continues to integrate the TNT business,” said Allan Parrott, CEO of Tidewater Fleet Supply. “Specifically, we’re implementing light-duty product lines into the TNT markets. We’re also in the process of merging the operating systems to bring both companies under the same IT platform. We believe the Network will be an asset as we continue to grow our business and expand our market share.”