National Equipment Dealers (NED) has acquired Four Seasons Equipment, May Heavy Equipment and Earthmovers Equipment, as well as some assets of International Iron.
NED calls this a “truly exceptional opportunity” to expand in the nation’s three fastest-growing economic areas:
- Houston and Dallas, Texas
- Orlando, Florida
- Raleigh, Lexington, Charlotte, Columbia, Greenville-Spartanburg and Charleston in the Carolinas.
The corporate office of the new entity will be based out of May Heavy Equipment’s facilities, which were recently built in Lexington, North Carolina, a company official tells Equipment World.
Financing for the merger and ongoing operations was supplied by a syndication of four banks led by BOK Financial. The other participating banks are Fifth Third Bank, Bank of the West and First Tennessee Bank.
CEO Mitch Nevins and Chairman Kerry Vickar of NED say employees of each company are expected to continue their respective jobs in the same previous manner, as no operational changes will be made.
“They believe collective success will be realized by all employees working together, sharing best business practices and equipment fleets, and benefitting from the synergies of a larger company footprint,” according to an NED press release.
NED represents 10 major manufacturers across a three-state territory, each embracing the combined operations in NED, the company says.
Significant growth is expected in the number of locations and employees, as well as by geographic diversification, providing opportunities for them as well as NED, the company says.