McCombie Group Acquires Majority Interest in Network of 11 John Deere Dealerships
📅 Wed March 01, 2017 - National Edition
McCombie Group, a private investment firm, and SeamLev Investments, its financial partner, have acquired a majority interest in Atlantic Tractor, a network of 11 John Deere equipment dealerships, with exclusive rights to market and service the brand's agriculture and turf products throughout Delaware, eastern Maryland, and southeastern Pennsylvania.
Atlantic Tractor and its predecessor entities have been serving Mid-Atlantic farmers and homeowners for more than 80 years. The company commands nearly 50 percent market share within its territory and consistently earns superior customer satisfaction scores. David McCombie, CEO of McCombie Group, said, “We are thrilled to have the opportunity to partner with a great regional company that represents one of the most recognizable and respected brands in the world.”
Consistent with McCombie Group's family office roots, the investment is structured as a long-term, buy-and-hold strategy. According to Eric Levin, president of SeamLev Investments, “The value of this company is in its people. We are committed to investing the resources to provide our team members with the training and tools required to ensure customers always receive the absolute best service in the marketplace.”
Atlantic Tractor will serve as the platform for opportunistically acquiring other complementary industrial dealerships that can benefit from its scale. McCombie Group partner, Jay Lipsey, said, “We remain willing and able to entertain discussions with other dealership groups who might have an interest in exploring a sale or merger.”
For more information, www.mccombiegroup.com.