Rush Enterprises, Inc. (NASDAQ: RUSHA, RUSHB) announced it has signed an agreement to form a joint venture with MCT Companies, one of the larger Carrier Transicold dealers in the United States, according to a press release dated July 23, 2026.

Each company will hold a 50% stake in the new entity, to be named MCT Holdings, LLC. The joint venture will operate MCT Companies' network of 17 full-service truck, trailer, and rail refrigeration and auxiliary power unit dealerships, along with three mobile service locations, across California, Nebraska, Kansas, North Carolina, South Carolina, and Virginia.

Bill Willett, current chief executive of MCT Companies, will serve as chief executive officer and president of the new joint venture. Rush Enterprises stated it does not intend to consolidate MCT Holdings, LLC within its Truck Segment or any other operating segment for financial reporting purposes.

The transaction is subject to customary closing conditions, with both parties expecting it to close during the third quarter of 2026.

"This joint venture represents an important step in Rush Enterprises' strategy to expand our presence in adjacent segments of the commercial vehicle market," said W.M. "Rusty" Rush, chairman, chief executive officer, and president of Rush Enterprises.

MCT Companies has operated since 1986 and employs more than 220 people. The company was named Dealer of the Year for the United States and Canada by Carrier Transicold in 2024. Rush Enterprises operates more than 160 commercial vehicle dealership locations across 24 states and Ontario, Canada.