NACCO Materials Handling Group Acquires Competitor Dealers
NACCO Materials Handling Group, Inc. (NMHG), Cleveland, Ohio, announced plans to acquire Gregory Poole Equipment Co., Dougherty Equipment Co., Inc., LiftOne LLC, VBS Inc. Material Handling Equipment and Briggs Equipment, Inc., thus restructuring the dealer networks for its Hyster and Yale brands across six states.
Some time ago, Yale dealer Dougherty Equipment, Ladson, S.C., advised NMHG of its intent to sell its dealer operations located in portions of North Carolina, South Carolina, Virginia and Georgia, upon the retirement of owner and CEO Michael Dougherty. Over the past year, NMHG has worked with Dougherty to develop a viable succession plan and to help facilitate the sale of its material handling operations, while ensuring continuity for customers and associates.