Business Roundup: Vermeer acquires McLaughlin; Kobelco adds Central Equipment; Pettibone network expands; VeriTread secures $2.5M; Prinoth secures 2 dealers

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Vermeer acquires McLaughlin, expands reach into utility market

Vermeer has acquired McLaughlin Group after buying a minority interest in the drill and vacuum excavator manufacturer in 2012.

Vermeer announced that it has bought all remaining non-Vermeer interests of McLaughlin Group.

McLaughlin, based in Greenville, South Carolina, will keep its name and brand for its products.

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Kobelco adds compact excavator dealer Central Equipment in Idaho

Central Equipment of Idaho will sell, rent and service Kobelco compact excavators, under a new agreement with the equipment manufacturer.

The deal affects the dealership’s Pocatello and Jerome branches. Central’s specialties include heavy equipment for construction and mining.

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Pettibone adds Highlift Equipment for telehandler sales in Ohio

Highlift Equipment in Ohio is the latest dealership to join Pettibone/Traverse Lift’s network.

Highlift will be the authorized dealer in the state for the manufacturer’s telehandlers.

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Equipment haul matching startup VeriTread secures $2.5 million investment from Sumitomo

VeriTread, The Heavy-Haul Marketplace, a Florida-based startup that connects construction equipment owners with hauling services online, has received a $2.5 million infusion from Sumitomo Corporation of Americas.

SCOA, along with Sumitomo Corporation, will receive an undisclosed ownership stake in VeriTread in exchange for the allocation, VeriTread said in a news release.

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Multi Machine, Kentucky Machinery to sell and rent new Prinoth Panther T14R dumper

Multi Machine, which has the largest fleet of fixed and rotating tracked dumpers in North America, has added the Prinoth Panther T14R Rotating Tracked Dumper to its sales and rental inventory.

Prinoth has also added Kentucky Machinery as a new, sole dealer for the state of Kentucky, and will begin selling and leasing the tracked-vehicle manufacturer’s products in October.

Read the full story here.