Fairchild Equipment is pleased to announce its latest business venture with the acquisition of assets and the Hyster forklift dealership rights from Arnold Machinery of Minnesota. The latest acquisition marks a tremendous growth benchmark for the company who acquired the assets of two additional locations and 33 employees.
NEWS RELEASE
July 12, 2017
Fairchild Equipment Acquires Arnold Machinery of Minnesota
Burnsville, MN – Fairchild Equipment announced on Monday, July 10, 2017 that it acquired the assets and Hyster forklift dealership rights of Arnold Machinery locations in Minnesota. The company will continue operating from its current locations in Burnsville and Ham Lake, MN with the addition of two locations from the acquisition in Eagan and Grand Rapids, MN. Along with acquiring the assets and dealership rights to the Hyster brand, Fairchild Equipment also absorbed 33 employees who will transition into the company from Arnold.
In a statement released by Gary Fairchild, Chairman of Fairchild Equipment, he said, “When you start these acquisition conversations with so much mutual respect between buyer and seller, it comes together quickly in a positive manner for all parties involved. This was a truly amicable process throughout.”
This acquisition marks the fourth significant acquisition for the company since 2015. Growth benchmarks for the company have continuously compounded for Fairchild Equipment. The current acquisition will strengthen the company in the materials handling market segment by allowing Fairchild Equipment to be a distributor of both Hyster forklifts and Yale forklifts in the state of Minnesota. Fairchild Equipment will additionally have greater abilities in services provided now by serving Wisconsin, Minnesota, North Dakota, Upper Michigan and Northern Illinois.
In response to the acquisition, Van Clarkson, President and Dealer Principal said, “It just didn’t make sense anymore to compete with the same truck in such an important market. We can now focus our attentions on the real competitors to grow our business.”
The changes made for the company in the last three years has sparked a new business operation with a deep focus on culture and growth. The expansive product line now includes: materials handling, warehouse, construction and agriculture equipment, racking layout and systems solutions, fleet solutions and comprehensive rental equipment, parts, service and training.
“We have worked very hard to create a strong family culture here throughout our many acquisitions and rapid growth. Arnold Machinery was a successful operation with many great people. We welcome our new employees into our family with open arms and are excited about what the future hold for the new combined operation,” said Chad Fairchild.
Fairchild Equipment is a leading distributor for materials handling, warehouse, construction and agriculture equipment in North Dakota, Minnesota, Wisconsin, Upper Michigan and Northern Illinois. With a commitment to exceed industry standards, Fairchild Equipment proudly represents strong manufacturer product lines that perform with productivity, efficiency and innovation. Fairchild is recognized annually by Hyster and Yale as a distinguished dealer and is a multi-time recipient of the “MVP” award by the Materials Handling Equipment Distributors Association. More information about Fairchild Equipment can be found on its website www.FairchildEquipment.com.
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