Jun 22 2015

LiftOne to Acquire Assets from Dougherty Equipment Company

Acquisition will expand LiftOne representation of the Yale® Brand.

Charlotte, NC (June 17, 2015) – LiftOne, a division of CTE, formerly Carolina Tractor and Equipment, with headquarters in Charlotte, NC, announced today the expected expansion of their dual brand network territory following the acquisition of a portion of Dougherty Equipment Company’s assets relating to Yale® lift trucks.

Upon completion of several related transactions, LiftOne is expected to be appointed by NACCO Materials Handling Group for the sales and service of Yale® lift trucks in Asheville, NC, Augusta, GA, Columbia, SC, Greenville, SC, Greensboro, NC and Savannah, GA. The primary letter of intent to acquire Dougherty’s operations has been executed by Gregory Poole Lift Systems, a division of Gregory Pool Equipment Company, headquartered in Raleigh, NC. At closing, expected around October 1, 2015, Gregory Poole will sell a portion of the Dougherty assets to LiftOne. The parties are now commencing a due diligence process as they move to finalize this transaction.

“With the acquisition of these assets, LiftOne’s focus on being our customers’ “trusted partner” for their parts and service solutions remains unchanged,” said Edward Weisiger, Jr., CEO of CTE. “Our award winning service Staff of over 375 highly-trained technicians services all brands of material handling equipment for our customers. LiftOne will continue to provide our customers with equipment solutions to help them increase efficiency and support their operations. Our commitment to our customers and their business will not waiver. Our primary focus through this change will be on making the transition as seamless as possible for all of our customers.”

Click here to read press release.

About LiftOne
Headquartered in Charlotte, North Carolina, LiftOne (www.liftone.net) is a full-service material 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 www.LiftOne.net 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.

About Gregory Poole Equipment Company
Gregory Poole Equipment Company is headquartered in Raleigh, North Carolina and has been a Caterpillar Construction dealer for eastern NC since its founding in 1951. Gregory Poole has expanded its Lift Systems operations into SC, VA and WV. The Company has a total of 17 locations reaching NC, SC, VA and parts of WV. Gregory Poole Lift Systems, established in 1968, is an award winning Division of Gregory Poole Equipment Company. Each Gregory Poole Lift Systems’ branch location provides full maintenance, field service, OSHA safety training, fleet management and rental services through experienced and highly trained forklift technicians, state-of-the-art tooling, and a fully stocked parts department. The Gregory Poole Lift Systems Division has been awarded many honors including Mitsubishi Caterpillar Forklift America (MCFA) “Quest for Excellence” program 7 out of the last 9 years and the “Most Valuable Partner” award from Material Handling Equipment Distribution Association (MHEDA) for the past 3 years. For more information on Gregory Poole Equipment Company, please visit www.gregorypoole.com or call 800-451-7278.

About Dougherty Equipment Company, Inc. 
Dougherty Equipment Company, Inc. was founded in 1984 by Michael Dougherty and has successfully grown to represent Yale® products and service customers through 14 locations in portions of VA, NC, SC and GA. Dougherty with over 300 associates has been recognized by NMHG for excellence in 21 consecutive years. For more information, visit www.doughertyequipment.com.

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