Foley Equipment Company has reached an agreement in principle to purchase Dean Machinery of Kansas City. Once the transaction is complete Foley Equipment will be the exclusive Caterpillar dealer for 104 counties in the state of Kansas and 40 counties in northwest Missouri, including the Kansas City market.
Foley Equipment offers a variety of construction and power systems solutions including new and used sales, rentals, parts, service and technology.
Pending the successful completion of Foley’s due diligence and the necessary regulatory approvals, the transaction is expected to close in January 2012. The purchase agreement includes the assets of Dean Machinery’s construction and power systems divisions.
“This is an extremely exciting opportunity for Foley,” said Ann Konecny, president of Foley Equipment. “We continually look for opportunities to grow and expand our business while keeping our customers at the center of everything we do as a company. This strategy and focus has served our customers and our business very well.”
Foley Equipment was founded in 1942 and currently operates 15 locations across the state of Kansas. Dean Machinery, also a family owned Caterpillar dealership, has been in operation since 1955 and is headquartered in Kansas City, Mo. The company has five locations in Missouri and one in Olathe, Kan.
“I look forward to working with Lori Dean and her team at Dean Machinery over the coming weeks and months to ensure a smooth and seamless transition,” added Konecny. “This acquisition positions us well for the future. We are delighted about this expansion and look forward to delivering the high quality and outstanding service that Foley Equipment customers have come to know and expect in a larger territory.”
Today's top stories