Fargo, N.D.-based Sweeney Brothers, a Volvo Construction Equipment dealer that also represents Linkbelt, Liebherr, Bomag, Hypac, Dynapac, LeeBoy, Wacker and Atlas Copco, launched its integrated, repetitive Like-Kind Exchange (LKE) program with Accruit, LLC of Denver. Accruit’s staged implementation process allowed Sweeney Brothers to begin receiving benefit from Accruit’s program in three weeks, with the fully integrated configuration completed within three months. Accruit’s LKE program generates additional cash flow on the sale and purchase of rental/lease fleet assets.
“Accruit’s LKE programs are rapidly becoming standard procedure for business owners in our industry,” said Kevin Sweeney, president of Sweeney Brothers. “As a method to fund corporate growth, LKEs just make sense.”
Accruit is the only full-service Like-Kind Exchange management provider that offers an integrated qualified intermediary. Designed specifically for the heavy equipment industry, Accruit now actively manages over $2.5 billion in equipment and processes over 75,000 LKE transactions per year.
Founded in 1946, Sweeney Brothers is a distributor of construction, forestry, industrial, milling and municipal machinery.