May Heavy Equipment, one of the leading heavy equipment rental companies in the southeastern United States, has acquired Tar Heel Machinery, headquartered in Raleigh, N.C. The transaction closed Oct. 19 and financial terms were not disclosed. Tar Heel will change its name to May Heavy Equipment effective immediately, May said, and all employees will be retained.
May Heavy Equipment, based in Lexington, N.C., with branches in Raleigh, N.C.; Columbia, S.C.; and Charleston, S.C., was already doing significant business in Raleigh and eastern North Carolina, but without having a dealership and service center location and without local support personnel. The Tar Heel acquisition provides May Heavy with that presence, as well as exclusive representation of the Sany excavator line in the territory.
“The Tar Heel acquisition represents a key milestone in our ongoing efforts to become the premier heavy equipment rental and sales company in the Southeast,” said May Heavy president Jacob May.
“The greater Raleigh area is already such an important and growing region for our business,” added CEO Kerry Vickar. “The addition of the Sany excavator line and our dedicated and more efficient service capabilities in the area will meet customer demands and will allow us to grow market share aggressively.”
Scott Woody, founder of Tar Heel Machinery, will stay on as May Heavy’s general manager for North Carolina. “We are impressed with May Heavy’s reputation in the industry, its access to capital and its steadfast commitment to having the newest and best rental fleet in its geography,” he said. “I firmly believe this transaction combines great capabilities at both of the companies.”
Earlier this year, May Heavy Equipment announced it will move its center of operations from North Carolina Highway 8 to a large, more visible property adjacent to I-85. The company is currently building a new 5,862-square-foot office and rental center and 15,100-square-foot service center on 49 acres near the Lexington Airport.
May Heavy is also expanding its Charleston, S.C., presence, having purchased a property adjacent to I-26. The highly visible location will provide coastal Carolina customers with rental, sales, parts, warranty and service for the lines that May Heavy represents.
May Heavy is an authorized new equipment and parts, service and warranty dealer for Bomag, Hyundai, Kawasaki, Sakai, Sany, Terex, IHI, NorAm, Magnum and Lay-More, and carries used equipment and products from Caterpillar, Komatsu, Volvo and others. Its inventory includes all types of earthmoving equipment and specialty units such as long reach excavators, hydraulic rock hammers, water trucks and many types of compaction equipment. It was founded by Bert and Jacob May in 1997.