After 59 years as a heavy equipment distributor and 56 years as a dealer for Caterpillar Inc. for western West Virginia and southeastern Ohio, the Walker family is exiting the business. The family has signed a letter of intent to sell Cecil I. Walker Machinery Co. and Walker Realty Co. to the Boyd Company LLC, owner of Whayne Supply Co., the Caterpillar Dealer for Kentucky and southern Indiana. The company has been in business since 1913 and is headquartered in Louisville, Ky.
The parties are attempting to consummate the sale by the end of 2009 or early 2010.
The Boyd Company is owned by Monty L. Boyd, a former Caterpillar employee and associated with Whayne Supply since 1984. The Boyd Company LLC is purchasing the stock of Cecil I. Walker Machinery Co. and Walker Realty Co. and in essence literally “steps into the shoes” of the present companies.
It is the intention of the Boyd Company LLC to continue to operate Walker Machinery “as is” and continue the name of Cecil I. Walker Machinery Co. By a stock sale, the assets, liabilities and obligations are transferred to the new ownership. Contracts, including labor agreements with The Operating Engineers, Local 132 remain intact.
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