Nortrax, Inc. has announced that it has consolidated operations with Nortrax II to form John Deere’s largest Construction & Forestry Division dealer organization. The company will continue to be jointly owned by CSFB Private Equity, L. P. and Deere & Company.
The combined organization has 56 locations in 15 states staffed by more than 1,000 employees and with revenues of more than $600 million.
"The combination will increase our ability to serve customers consistently in an ever increasingly competitive environment," said Jim Earnshaw, Nortrax, Inc. CEO, "This move creates a financially stronger business by consolidating many administrative and other back-end functions.
"The consolidation will allow us to share new and used equipment inventories among all Nortrax locations, improving product availability and delivery response," Earnshaw explained. "Customers will also benefit from a wider variety of product support choices matched to their operations, including extended warranty options, credit services, and preventive maintenance contracts."
Nortrax will continue to be based in Moline, IL, and have eight regional sales branches. Regional headquarters will remain in Sacramento, CA; Tampa, FL; Baton Rouge, LA; Westbrook, ME; Concord, NH; Cincinnati, OH; Nashville, TN; and Eau Claire, WI.
John Deere’s Construction & Forestry Division sells and services more than 100 models of equipment through more than 425 North American dealer locations.
CSFB Private Equity, the global private equity arm of Credit Suisse First Boston, is one of the largest managers of alternative assets in the world, with $26 billion of assets under management. CSFB Private Equity is comprised of investment funds that focus on domestic and international leveraged buyouts, mezzanine, real estate, venture capital, distressed securities, fund of funds and secondary funds. CSFB Private Equity includes the family of DLJ Merchant Banking funds and the Sprout funds as well as the Private Fund Group, which is dedicated to raising investment capital for global private investment firms. CSFB Private Equity maintains offices in New York, London, Buenos Aires, Hong Kong, Tokyo, Sao Paulo, Chicago, Los Angeles, Menlo Park, and San Francisco.
