Contacts
 
















Ground Gains
Mergers, Acquisitions, Expansions


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Wells Fargo & Company and Doosan, the parent of Bobcat Company, agreed to continue their vendor-financing relationship through December 2020. According to the banking institution, its Vendor Financial Services is used at more than 500 of the equipment manufacturer's dealers in the United States and Canada; processing nearly 20,000 credit applications, and financing more than 12,500 pieces of equipment per year.


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Two deals were recently announced by industrial auctioneer and equipment distributor Ritchie Bros. First, they have entered into a strategic alliance agreement with Caterpillar to become its preferred global partner for live onsite and online auctions of the manufacturer's used equipment; complementing their existing dealer channels and providing them with access to proprietary auction platforms, software and other value‐added services. Second, they have reached an agreement, subject to regulatory clearances and other customary closing conditions, to acquire IronPlanet, a leading online marketplace for used heavy equipment and more, of which Caterpillar and its dealers own a minority position.


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Equipment provider Groff Tractor will now offer Terramac's RT9, RT14 and RT14R rubber track crawler carriers at their New Jersey operations to serve a wide range of industries including environmental restoration. The agreement expands the representation of the crawler carriers to 10 of the dealers' locations, which also include branches in eastern Ohio and Pennsylvania.


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SCG Partners has acquired the assets of two commercial landscape maintenance companies in Florida, the fifth and sixth such deals for the private equity fund in the last 12 months including three landscape maintenance companies they bought in October 2015 that are currently operating as Green Leaf Landscaping and Irrigation. Additional acquisitions in the landscape maintenance industry are reportedly being sought throughout the Southeast to deepen local market penetration as well as expand geographic coverage.


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Located in Conway, South Carolina, near Myrtle Beach, and serving five surrounding counties, Richardson Service 1991 Inc. was selected as a new Takeuchi dealer and will represent its entire product line of excavators, skid steer loaders, track loaders and wheel loaders.








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November 18, 2017, 12:34 am PST

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