Vermeer Acquires Minority Equity Investment in MultiOne
Vermeer Corp. has purchased a minority equity investment in MultiOne, a leading manufacturer of compact articulated loaders. This investment comes a year after Vermeer entered a distribution agreement with MultiOne to supply Vermeer-branded loaders to be sold, serviced and supported exclusively through Vermeer dealers across North America and the Caribbean.
Building on the early success of last year’s agreement, distribution of Vermeer-branded loaders produced by MultiOne will now expand to Vermeer dealers worldwide beginning this year. MultiOne will also continue to provide blue, MultiOne-branded loaders through its existing distribution partners outside North America.
“We are excited to take our partnership with MultiOne to this next level,” said Doug Hundt, president of Vermeer Industrial Solutions. “The demand for compact loaders is growing worldwide, and this puts Vermeer in a great position with a lineup of proven products, attachments and dealers to help our customers reduce their labor needs and get more important work done.”
MultiOne will continue under the leadership of Fiorenza Carraro and Stefano Zanini, with global holdings company, Lifco, taking on majority ownership. Its main operations and manufacturing will remain headquartered in Vicenza, Italy.
Learn more at vermeer.com.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.