Caterpillar Enters into Agreement to Acquire Fabick Cat Dealership
Caterpillar Inc. has entered into an agreement to acquire John Fabick Tractor Co., one of its largest dealerships with more than 100 years of service and customer relationships across portions of Missouri, Illinois, the entire state of Wisconsin and the Upper Peninsula of Michigan.
The agreement reflects a customer-focused decision to support a seamless transition of Fabick ownership while maintaining the strong service and local support customers value.
“Caterpillar and Cat dealers share a common mission of solving our customers’ toughest challenges,” said Joe Creed, Caterpillar chairman and CEO. “We look forward to continuing to work with the Fabick team to build on a century of success, further strengthen the customer experience and drive long-term growth across the service territory.”
“We’re incredibly proud of our team and the customer relationships we’ve built over the past 100 years,” said Jeré Fabick, chairman, CEO and dealer principal of Fabick.
“We are excited for this next chapter with Caterpillar,” add Fabick chief operating officer Todd Stanley. “This will enhance our ability to provide our customers with unmatched services, technology and expertise.”
The agreement requires approval by regulatory authorities and is subject to other customary closing conditions. The transaction is expected to close within 30 days.
Fabick Cat, headquartered in Fenton, Mo., is No. 23 on the RER 100. It offers an expansive line of Cat earthmoving equipment, full line of aerial lifts, material handling, concrete and landscaping equipment, small tools, machine attachments and emergency power generation.
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.