Acquisition will expand LiftOne representation of the Yale® Brand.
Charlotte, NC (October 19, 2015) – LiftOne, a division of CTE, formerly Carolina Tractor and Equipment, with headquarters in Charlotte, NC, announced today the completion of the acquisition of a portion of Dougherty Equipment Company’s assets relating to Yale® lift trucks.
Upon completion of this transaction, NACCO Materials Handling Group (NMHG) has appointed LiftOne the Yale® dealer in parts of North Carolina, South Carolina and Georgia, in addition to their representation of the Yale® brand in Tennessee.
Upon completion of several related transactions, NACCO Materials Handling Group LiftOne appointed LiftOne as the newly authorized dealer for the sales and service of Yale® lift trucks in Asheville, NC, Augusta, GA, Columbia, SC, Greenville, SC, Greensboro, NC and Savannah, GA.
"Today’s announcement represents the culmination of a lot of hard work that’s taken place over the past 24 months," said Bob Sattler, Vice President of Dealer Business Development for NMHG. "We commend [LiftOne] for their extraordinary efforts and the professionalism demonstrated throughout this transition to ensure continuity for customers and associates. The expansion of our U.S. dual-brand dealer network is integral to our growth strategy, and we are confident that this restructuring will bring greater support and product access to our customers."
"We want to thank NACCO Materials Handling Group for expanding their trust in us with this opportunity" said Edward Weisiger, Jr., CEO of CTE. "Moreover, we want to welcome the almost 100 new team members and their families. We recognize they have a choice in employers and appreciate they selected LiftOne. This team is well positioned to serve our customers and ensure we remain their trusted partner."
Headquartered in Charlotte, North Carolina, LiftOne (www.liftone.net) is a full-service materials handling dealership with branch locations in North Carolina, South Carolina, Alabama, Georgia, and Tennessee. Since 1926, LiftOne has been committed to being its customers’ trusted partner by offering the highest levels of support and services. LiftOne offers a wide range of Hyster® and Yale® lift trucks; from pallet jacks to 115,000-lb container handlers, specialty equipment such as Ottawa trailer spotters and Rail King rail car movers as well as the related aftermarket services to keep those products moving quickly, smoothly, and safely throughout the supply chain. The CTE family of companies is also positioned to support Caterpillar® construction, forestry, paving products, and power generation systems as well as LinkBelt® cranes. As a recipient of Hyster Company Dealer of Distinction, MHEDA’s Most Valuable Partner and Ottawa Premier Partner awards, LiftOne has been recognized as achieving the highest standards for its customers and manufacturing partners.
About NACCO Materials Handling Group, Inc.
NACCO Materials Handling Group (NMHG) designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names. NMHG is a wholly owned subsidiary of Hyster-Yale Materials Handling, Inc. (NYSE:HY). Hyster-Yale Materials Handling, Inc. and its subsidiaries, headquartered in Cleveland, Ohio, employ approximately 5,400 people worldwide.
For more information, please contact:
Scott A. Alexander
VP, Sales and Marketing