Rush Enterprises to sell John Deere equipment unit to Doggett for $37 million

Rush Enterprises to sell John Deere equipment unit

SAN ANTONIO — Commercial vehicle dealership operator Rush Enterprises, Inc. said Friday that it has agreed to sell its John Deere construction equipment business to Doggett Heavy Machinery Services LLC for $37 million.

Rush Enterprises said the deal will include equipment centers in Houston and Beaumont, Texas. The purchase price includes assets and goodwill.

The transaction is expected to close in the third quarter.

“We will continue to evaluate opportunities to re-enter the construction equipment dealership business in areas of the country outside of Houston and adjacent areas of southeast Texas, where we will be precluded from doing so for several years,” said W. M. Rush, president and CEO.

Rush Enterprise shares rose 19 cents to $13.06 in morning trading.