McLaughlin Group Inc. has announced that Vermeer Corporation, along with Jeff Wage — a veteran professional of the underground construction industry — has made a minority equity investment in the company.

Dave Gasmovic, president of McLaughlin, is the primary shareholder and will continue to lead operations. Wage joins McLaughlin as vice president and an equity partner, while the minority equity investment by Vermeer provides a deeper strategic relationship with McLaughlin.

“The Vermeer investment in our company is a strategic business partnership that positions both for further success,” said Gasmovic. “Our current partners and customers will not be affected by this change and can count on the consistent support they’ve come to expect with McLaughlin.”

“Vermeer has had a long-standing relationship with McLaughlin by representing its vacuum products and utilizing McLaughlin as an OEM supplier on components for our underground products, most recently with the new Vermeer piercing tool line,” said Dave Wisniewski, vice president of the underground segment of Vermeer Corporation. “The purpose of this investment is to secure a competitive position in the market.”

This new ownership arrangement will not affect the current branding or distribution of McLaughlin products, including vacuum excavation systems, auger boring systems, locators and attachments.

For more information, visit www.mightymole.com.

Today's top stories

New Bridges Part of Iowa's $114M Madison Avenue Project

Eagle Bridge Co. Works On Final Leg of U.S. 35 Upgrade

Fay Preps Way for Pittsburgh International Airport Modernization Project

SAKAI Achieves Record Sales, Production

Takeuchi Recognizes Top Dealers at 2024 Dealer Summit

Muddy Water Dredging Christens Marlin Class Dredge

Indiana Officials Mark Start of 2024 Construction Season, Promote Safety

Leica Geosystems Launches its First Machine Smart Antenna — Leica iCON gps 120