MH Equipment assumes responsibility of Yale brand forklifts from Torrance Equipment
The acquisition makes MH Equipment a dual brand dealership of Hyster-Yale Group, Inc.
MH Equipment, Peoria, Ill., assumed responsibility for Yale brand forklifts in the Iowa and northwestern parts of Illinois from Torrance Equipment, Cedar Rapids, Iowa. The acquisition makes MH Equipment a dual brand dealership of Hyster-Yale Group, Inc., Cleveland, Ohio, representing both the Hyster and Yale brands in the Cedar Rapids, Des Moines, Dubuque, Mason City and Quad Cities markets.
"Torrance, under Steve Gallagher's leadership, has been a successful Yale dealership for more than 20 years, and has built a large and loyal customer base by providing integrity, outstanding value and unique solutions [that] align well with MH Equipment," says John Wieland, chief executive officer of MH Equipment. "Today's acquisition allows us to expand our dealership and product offering while developing new customer relationships within the Iowa and northwestern Illinois market."
With this transaction, MH buys all assets of Torrance and will become the Yale dealer for the territory. Joining MH Equipment will be Torrance’s 90 employees, including almost 50 technicians.
"Our company is based on three principles—People Matter, Passion Inspires and Purpose Unites," adds Wieland. "We look forward to demonstrating these principles by establishing trust with our new customers and new employees, and by demonstrating they can count on us to provide high-quality customer service and employment."