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Family Business Study Group: David Thompson, CEO, TEC Equipment

TEC’s expansion from a single used truck center to 22 franchised dealerships and three used truck centers and 1,000 employees has not followed a traditional path. Today David and his family retain sole ownership of the enterprise, which enjoyed a 53 percent jump in revenue, to $430 million, in the fiscal year ended May ‘13, up from $280 million in fiscal year 2012. David and Ann’s sons, David Oliver, Christopher, and William each play an active role in the success of the company. In this third program of the Family Business Study Group Series, we will hear from David Thompson, CEO of TEC Equipment, Inc., and each of his sons about how his focused strategy has yielded over 30 years of profitability, market share growth, and financial stability and the planning that has supported this growth.