Utility One Source announced the acquisition of Load King, a leading provider of specialty trailers, from Manitex International. Based in Elk Point, SD, Load King’s existing management team, will continue to lead and to grow the business as part of Utility One Source. Utility One Source, founded by private equity funds managed by Blackstone earlier this year, is a single-source supplier for the utility and heavy equipment industries with a focus on sales, rental, parts and installation, equipment customization, remanufacturing and installation, and aftermarket services.
“I am delighted to welcome Load King to the Utility One Source family, said Chairman Chris Ragot. “Load King will be a great asset for our team, further enhancing the already-compelling equipment portfolio UOS has to offer. Their addition demonstrates our continued commitment to becoming the leading provider of solutions and selection to the heavy equipment and utility industries.”
Load King’s general manager, Jim Peterson said, “We are thrilled to now be a part of Utility One Source. We look forward to being a part of its continued growth by delivering the renowned specialty trailers on which Load King has built its reputation.”
The addition of Load King marks the sixth acquisition under the Utility One Source brand since its formation in February 2015, and is validation of its pledge to build a national footprint and a wide breadth of product offerings. Funds managed by Blackstone will continue to provide growth capital for significant additional investment in equipment, innovation and an expanded geographic footprint, which will ensure Utility One Source has the customer-focused solutions the industry requires.