Equity Group Investments (“EGI”), the private investment firm founded by Sam Zell, today announced an investment in CIT Trucks, a leading provider of truck sales, service, parts, leasing & rental, and financing solutions across the Midwest. EGI is partnering with CIT Trucks’ senior management team, who will continue to lead the business and retain an ownership stake. In conjunction with the transaction, current Chief Executive Officer, Erick Miner, will be retiring after 40 years and CIT’s current president, Carl Herzog, will assume the role of Chief Executive Officer. Although retiring from day-to-day business, Erick Miner will continue to serve on the board of directors.

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Founded in 1975 and headquartered in Normal, Illinois, CIT Trucks is a leading commercial truck dealer representing Kenworth, Volvo, Mack, and Isuzu along with other top manufacturers across 15 locations in Illinois, Indiana, and Missouri. As an authorized OEM partner, the company provides comprehensive sales, service, parts, leasing & rental, and financing solutions for both fleets and owner-operators. Rooted in a customer-first culture and strengthened by deep technical expertise, CIT Trucks is dedicated to advancing the commercial vehicle industry.

“CIT Trucks has established itself as a trusted partner to customers, OEMs, and employees alike, and we’re proud to support its mission and momentum as it continues to grow,” said Mark Sotir, President and Chief Investment Officer of EGI.

Rahul Sen, Managing Director at EGI, added, “We’re drawn to companies with strong leadership and long-term vision, and CIT Trucks embodies both. As partners, we will build on CIT’s success by investing in new opportunities while maintaining the values that have made it successful for nearly five decades.”

Carl Herzog, incoming CEO, and Bruce Thomas, Vice President of Sales, at CIT added, “Over the history of our company, we have continued to invest in our people and the resources needed that allow us to provide exceptional service to our customers. As we look to the future and additional expansion opportunities, partnering with EGI gives us the resources to expand effectively while staying true to the values that have defined CIT Trucks for decades. Together we will continue to focus on our people, as they are ‘CIT’, and on providing the best services possible for our customers.”

About EGI

Equity Group Investments (EGI) is the private investment firm founded by Sam Zell in 1968. Backed by private capital, EGI is flexible and opportunistic with a focus on control, buyout, private investment opportunities. As a longer-term investor, EGI actively partners with portfolio company executives to execute strategic planning, implement operational efficiencies, and scale businesses. EGI has grown companies across numerous industries into multi-billion-dollar businesses throughout economic cycles. EGI’s current portfolio includes investments in healthcare, transportation and logistics, infrastructure, energy, consumer, industrial, manufacturing, and agri-business. For more information, visit www.egizell.com.

About CIT Trucks

CIT Trucks is a leading provider of commercial truck solutions, offering new and used truck sales, service, parts, leasing & rental, and financing across Illinois, Indiana, and Missouri. Founded in 1975 and headquartered in Normal, Illinois, CIT Trucks represents top-tier brands including Kenworth, Volvo, Mack, and Isuzu. With over 900 employees across 15 locations, the company is committed to delivering industry-leading uptime, expert support, and a comprehensive inventory to meet the needs of fleets and owner-operators. With 50 years of service, CIT Trucks continues to drive growth and innovation in the trucking industry.

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