Bristol, Pa., based holding company, Modern Group Ltd., one of the nation’s largest material handling and construction equipment distributors, July 28 announced a restructuring of its operations into a single integrated full line distributor. This restructuring was done in anticipation of future revenue growth as the economy improves and to take advantage of additional acquisition opportunities.
Dave Griffith, Modern’s chief executive officer commented, “Modern has grown historically from its representation of such quality lines as Hyster, JLG, Genie, Generac and New Holland and from some 33 acquisitions of related organizations. Therefore, now the time has come to position the company for future growth by bringing even greater efficiency to our operations and leverage our substantial investments in technology. In addition, Modern intends to significantly grow its material handling operations and will be making a number of acquisitions in this area.”
Effective Aug. 1st, 2009, Modern will no longer operate as a holding company with multiple separate companies, but as a single, integrated, full line industrial distributor. This allows Modern to provide its customers the full range of product offerings and services from all 21 locations, while maintaining a dedicated sales force and application specialists focused on specific products and services.
Senior personnel remain in place at Modern with new responsibilities. Carl Rathemacher, previously president of Modern Handling will be a special advisor to the CEO on acquisitions, and Gerry Couch, previously president of Modern Equipment & Sales Company, becomes senior VP of sales across all Modern business.
Founded in 1946, Modern Group, a 100 percent employee owned company, ranks among the largest independent material handling and construction equipment distributors, and power systems/generators in the nation, representing more than 400 product lines. Modern Group’s companies provide sales, leasing, short-term rental, service, parts, training and financing solutions. Modern employs more than 500 people at 21 locations in Pennsylvania, New Jersey, Delaware and Maryland.
For more information, call 800/8-MODERN or visit www.moderngroup.com.