Vermeer Acquires Remaining Interest in McLaughlin Group
Vermeer Corp. announced its acquisition of the remaining non-Vermeer interests of McLaughlin Group Inc., a leader in the drill tooling and vacuum excavation industry.
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“Our initial investment in McLaughlin created the ideal opportunity to determine how the company culture and product portfolio fit within our organization,” said Jason Andringa, Vermeer Corp. president and CEO. “Now, we look forward to having the McLaughlin team and the products they design and manufacture become part of the comprehensive solution Vermeer provides to the utility market. This is especially important in the area of soft-dig excavation where we see demand for equipment and expertise continuing to grow today and well into the future.”
Vermeer took an initial vested position in McLaughlin in 2012, when it acquired a minority interest in the Greenville, South Carolina company.
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“For more than 95 years, McLaughlin has provided workable solutions for the utility industry, where Vermeer is considered a market leader,” said Dave Gasmovic, president and CEO at McLaughlin Group. “We have worked closely with Vermeer and I can confidently say that incorporating the McLaughlin products into the Vermeer lineup will be a positive for the McLaughlin team and the customers we serve. We look forward to being a part of the Vermeer organization,”
McLaughlin will continue to operate under the McLaughlin name in Greenville, South Carolina. Dave Van Wyk, previously the senior director of Lifecycle Solutions at Vermeer, will serve as general manager. Dave Gasmovic will take the role of business development manager and Jeff Wage, sales director, will continue to lead the McLaughlin sales group.