PacWest Machinery LLC of Seattle, WA announced the acquisition of the operating assets of Clyde/West Inc., Portland, OR, a company that has supplied equipment to a growing construction industry in the Pacific Northwest for over 100 years. PacWest Machinery was also appointed as the Volvo Construction Equipment (Volvo CE) dealer in Washington, Oregon and Northern Idaho. Volvo CE is a leading manufacturer of heavy equipment in the construction, forestry, road and related infrastructure industries.
PacWest Machinery is owned by Seattle-based Joshua Green Corporation, a private company with interests in real estate, consumer goods, food manufacturing, distribution and public equities. "The entrance of Joshua Green into the equipment distribution segment is another example of our desire to make long-term investments in stable industries that show attractive growth potential," said Stan McCammon, president and CEO of the Joshua Green Corporation. "We take a long-term view when investing in regionally-based companies that are profitable and contribute in many important ways to the community. This long-term orientation sets Joshua Greenapart from many investors and makes us an ideal partner for companies seeking capital or facing a generational transition."
As part of the transaction, industry executive Andy Wold will become an investor in the company and will serve as the chief executive officer of PacWest Machinery. "Our affiliation with Volvo CE and the Clyde/West management team provides a platform to pursue attractive long-term growth opportunities," commented Mr. Wold. "Through the Joshua Green Corporation, we have access to the resources to invest in smart growth. As a key to our future expansion, the PacWest team is committed to providing customers with the finest products and aftermarket support services in the business."
Under the new dealer agreement, PacWest Machinery is given responsibility for the sales, rental and service for the full line of Volvo's general production equipment, road machinery and compact equipment. "This transition will be absolutely seamless with continued service to the many Volvo customers in the Pacific Northwest," Wold said. "Our team members will remain in their present positions to ensure all customer needs are met." PacWest Machinery will provide equipment and services to customers from four facilities located in Kent and Spokane, Washington and in Portland and Eugene, Oregon.
"The Joshua Green organization has a unique combination of skilled leaders and the necessary financial resources to capitalize on a growing economy in the West," said Goran Lindgren, president and CEO, Volvo CE North America. "Volvo will provide the products, support and resources required by PacWest Machinery and its management team to continue delivering the highest levels of customer satisfaction."
