Caterpillar Inc. Finalizes Acquisition of Fabick Cat Dealership
Caterpillar Inc. has finalized its acquisition of John Fabick Tractor Co., a long-standing Cat dealer 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. Fabick has 37 locations.
Caterpillar entered into an agreement to acquire Fabick in September following more than 100 years of Fabick family ownership. The acquisition reflects a customer-focused decision to support a transition of Fabick ownership.
“Fabick customers have come to expect outstanding service and support, and completion of this acquisition ensures that commitment will continue,” said Caterpillar chairman and CEO Joe Creed.
Upon closing, Caterpillar senior vice president Steve Ferguson has been appointed the new CEO and dealer principal of Fabick. Ferguson joined Caterpillar in 1990 and has held roles in mining, power & energy, finance and operations. He was most recently the senior vice president of the Industrial Power Systems Division.
“Fabick has built deep customer relationships, an experienced team and a strong commitment to the communities it serves,” said Ferguson. “I look forward to building on that momentum as we begin this next chapter—working together to support our customers, create opportunities for our employees and carry Fabick’s proud legacy forward.”
According to sources close to the situation, Caterpillar decided to acquire Fabick in response to legal conflicts within the Fabick family.
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.
