ForConstructionPros.com

Genie acquires Phoenix Equipment Co.

Genie Industries Inc. announces it has acquired the assets of Phoenix Equipment Co., a Waco, TX company specializing in the refurbishment of aerial work platform equipment. This acquisition is key to Genie’s strategy of continuing growth and delivering value-added services for customers.

“As the market has grown, so has the need for refurbishment. With this acquisition, Genie Industries will now have a dedicated facility to refurbish and remanufacture products to customer specifications,” says Tim Ford, president, Terex Aerial Work Platforms (AWP), which includes Genie Industries. “In addition to standard refurbishment and remanufacturing services, Phoenix Equipment Co. has the ability to complete warranty repairs and customer unit repairs, which will be an added benefit for our customers.”

Phoenix Equipment Co. began operation in 1996 as a small aerial lift rebuilding and repair facility. Currently, Phoenix employs more than 140 people in Waco. Phoenix Equipment does not sell or rent equipment but is dedicated to providing timely repairs, painting and annual inspections on all types of construction equipment. Since 1999, Phoenix Equipment Company has been a factory-authorized Genie Industries refurbishment and repair center.

John Carhart, founder of Phoenix Equipment Company, will continue with the company as it joins Terex AWP.

Textron Financial partners with Stone Construction Equipment

Textron Financial Corp. announces a new financing partnership with Stone Construction Equipment that establishes the company as Stone’s financing provider for its construction equipment. As part of the arrangement, Textron Financial will offer full-service equipment financing to all Stone customers. The suite of services includes a retail lease and loan program for Stone’s end-user customers, provided by Textron Financial’s new Vendor Finance Division, and a wholesale floor plan program for its dealer network, managed by the company’s Distribution Finance Group of businesses. The solution also includes a rental fleet finance program for dealers and rental houses.