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NACCO Materials Handling Group announces dealer network restructuring
- June 18, 2015
- News Release
- Materials Handling
NACCO Materials Handling Group Inc. (NMHG), Cleveland, has announced that pending the completion of proposed transactions among Gregory Poole Equipment Co., Dougherty Equipment Co. Inc., LiftOne LLC, VBS Inc. Material Handling Equipment, and Briggs Equipment Inc. and execution of dealer agreements, the company will have completed a major restructuring of the dealer networks for its Hyster® and Yale® brands across six states.
Over the past year, NMHG has worked with Dougherty Equipment Co., a Yale dealer, to develop a viable succession plan for its dealer operations in North Carolina, South Carolina, Virginia, and Georgia upon the retirement of its owner and CEO. Gregory Poole Equipment, Raleigh, N.C., has executed a letter of intent to acquire Dougherty’s operations. Gregory Poole will sell a portion of the Dougherty assets to LiftOne, a dual-brand dealer of Hyster and Yale lift trucks in Charlotte, N.C.
Gregory Poole also has executed letters of intent to acquire operations of VBS Inc. Materials Handling Equipment, a current Hyster dealer with six branch locations in the Southeast, and certain assets and facilities of Briggs Equipment Inc., a dual-brand Hyster and Yale dealer.
Subsequent to the completion of the transactions, Gregory Poole will become the Yale dealer in portions of North Carolina, South Carolina, and Virginia, and the Hyster dealer in most of Virginia and in portions of North Carolina, South Carolina, and West Virginia. LiftOne is the current Hyster dealer in portions of North Carolina, South Carolina, Georgia, Alabama, Virginia, and Kentucky, and the Hyster and Yale dealer in portions of Tennessee. Once the transactions are completed, LiftOne will also represent Yale in portions of North Carolina, South Carolina, and Georgia.
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