In a multi-faceted transaction that closed Jan. 5, National Equipment Dealers acquired Four Seasons Equipment, May Heavy Equipment and Earthmovers Equipment, as well as some assets of International Iron.
NED, a newly formed entity, is expanding in what is recognized as three of the fastest-growing economic areas in the United States: Texas (the Houston and Dallas areas); the Carolinas (Raleigh, Lexington, Charlotte, Columbia, Greenville/Spartanburg, Charleston) and Florida (Orlando area).
Financing for the merger and ongoing operations was supplied by a syndication of four banks led by BOK Financial, and including Fifth Third Bank, Bank of the West and First Tennessee Bank.
Mitch Nevins, CEO of NED, and Kerry Vickar, chairman, said that employees of each company are expected to continue their respective jobs in the same manner and that no operational changes will be made upon bringing these businesses together. They believe collective success will be realized by all employees working together, sharing best business practices and equipment fleets, and benefitting from the synergies of a larger company footprint.
Collectively NED represents 10 major manufacturers across a three-state territory. The company expects to grow in size, both in terms of number of locations and employees as well as by geographic diversification.
May Heavy Equipment, based in Lexington, N.C., is No. 93 on the RER 100. Four Seasons Equipment, founded in 2001, has four locations in Texas and Louisiana. The acquired companies all specialize in heavy equipment sales and rental.
