Used truck warranty provider National Truck Protection Co. (NTP) is getting a big financial boost from New York-based Praesidian Capital Investors, which believes demands for NTP’s services will grow over the next few years.
“This is a strike zone investment for us in that it is a historically profitable company with a strong, experienced and committed management team in an industry with favorable dynamics,” said Neil Marks, managing partner at Praesidian.
“They have a well-deserved reputation as a premier provider of warranties to owner- operators, OEMs, dealerships and fleet owners, with extensive grass roots engine repair knowledge and experience … developed by operating its own diesel engine testing and repair facility,” he added.
Carlstadt, NJ-based NTP, founded in 1984, is an independent used heavy-duty truck inspection and warranty provider that covers owner-operators, fleets and dealerships with a “one-stop shop” for warranties. They also offer “wear-out” protection for working parts (those contributing to oil consumption) and performance complaints, and provide uncapped mileage and repair payouts. NTP also owns Dover Diesel Service, Inc., a provider of repair, inspection and rebuilding services for diesel engines.
For more information go to www.nationaltruckprot.com.