Customers Will Benefit as Eagle Power Acquires Histand's
📅 Mon August 07, 2017 - Northeast Edition #15
Eagle Power & Equipment has acquired Histand's Equipment.
(Eagle Power and Equipment photo)
Eagle Power & Equipment, based in Montgomeryville, Pa., recently acquired Histand's Equipment, based in Doylestown, Pa.
The acquisition, finalized April 27, 2017, was set in motion a few years ago when the owners of the two companies met to discuss other business matters.
“I have known Wendell Histand [owner of Histand's Equipment] for several years as a neighboring Kubota dealer,” said Matt McDonald, president and CEO of Eagle Power & Equipment. “We had lunch a few years ago just to swap ideas and best practices and Wendell [Histand] shared some of the company history and how their initial succession plan didn't work out as they had hoped. Something about the way he told the story compelled me to call him afterwards and say when the time came for him to retire, we would love to talk about the opportunity.”
Several months later, Histand called McDonald, and the plans for Eagle to buy Histand's began.
The move, according to McDonald, made perfect sense for Eagle Power for several reasons.
“We have been a Kubota dealer for 12 years now and have had great success,” he said. “We were looking for a way to offer the entire Kubota line, which includes the turf and tractor products. The acquisition of Histand's was the perfect opportunity to that. It allowed us to have a location within our existing territory where we could utilize the experience and expertise of the Histand's team — and they had a loyal customer base.”
Eagle Power & Equipment carries Case construction equipment; Kubota; Eager Beaver trailers; Trail King trailers; Allied hammers, compressor and light towers; Paladin attachments; Toro Dingo and more.
In addition to the Kubota, Histand's Equipment carries Stihl, Husqvarna, Ariens, Gravely, Ferris, Boss snowplows, Land Pride and Ringo trailers.
“All of Histand's products give us the opportunity to offer more products to current customers, as well to enter into new markets,” said McDonald.
To ramp up for this acquisition, Eagle Power & Equipment already has hired a new service manager and is in the process of hiring two on the road sales representatives to cover commercial business. Eagle Power also will be hiring additional technicians in the service department and will be adding a road service truck. Histand's facility will be upgraded in the next few months.
As a result of the acquisition, Histand's Equipment will now be called Eagle Power Turf & Tractor.
“We are still using the Histand name, as well as Eagle Power Turf & Tractor in our marketing efforts, but will phase out Histand's in the next few months,” McDonald said. “Histand's has been in business for 90 years and has an excellent name and reputation in the area, so we hope to use the name for a while to bridge the transition.
“Our goal was to always make the transition from Histand's to Eagle Power Turf & Tractor as smooth as possible,” McDonald added. “Our customers will conduct business with the same people as they have in the past, but they will also see some new faces.”
For more information, visit www.eaglepowerandequipment.com.