Diamond Cos. merger expected to boost revenue to $1B

The Memphis, Tenn.-based holding company of truck dealer and repair shop Diamond International of Springfield has signed the dotted line on a merger expected to boost companywide annual revenue to nearly $1 billion.

Diamond Cos. Inc. is slated to merge Jan. 1 with Amarillo, Texas-based Roberts Trucks Center LLC, a holding company for truck and bus dealerships in Kansas, Oklahoma, New Mexico and Texas. Diamond Cos. operates International Truck and IC Bus dealerships in Missouri, Arkansas, Kansas and Tennessee, according to a news release.

"It enables us to become an even more efficient transportation solutions provider that is better able to compete in the rapidly changing commercial truck and bus industry," said Diamond Cos. President Richard Sweebe.

Sweebe will serve as a principal of the combined organization along with Roberts Truck Center President Blaine Roberts and Vice President Blair Roberts.

Barb Rendall of Affiliated Marketing Partners, which is representing both companies, said a decision on the name of the merged company has not yet been made, but a decision is expected by Jan. 1.

The merger of the two privately held family businesses would increase the companies' footprint to 29 locations in seven states, employing 1,300 people, the release said.

Diamond Cos. reported to Springfield Business Journal it posted $500 million in companywide revenue last year, with the Springfield location, 2635 E. Diamond St., contributing $50 million.

Diamond International of Springfield relocated to the New Prime commercial subdivision from East Chestnut Expressway in May, expanding into a 61,600-square-foot building with 15 services bays on 10 acres fronting Interstate 44.