Effective immediately, Terex Corp., a lifting and material handling solutions company, acquired substantially all the assets of Dueco Inc., a longtime aerial device and digger derrick distributor for Terex. This acquisition does not include the Odyne entity. The deal came about in order to be a united company that interfaces most all customers rather than splitting responsibilities across different regions.
Terry VanConant, the marketing communications manager for Terex Utilities, explains that the majority of the team members of Dueco are being absorbed into the daily operations of Terex but will maintain their same roles within the company. Because Terex did not have the sales and service components in those 17 states that Dueco does, those two departments will continue to operate as before, just under the Terex name.
“The main thing we’re trying to communicate here is that it is business as usual for customers we’re dealing with on a daily basis and it will continue to be business as usual. There is nothing more important than making sure the customer is taken care of,” he explained.
This acquisition allows Terex to have one face to the market, VanConant said. With all the mergers and acquisitions that have occurred in the electric utility market over the last decade, according to VanConant there were major accounts dealing with Dueco in one region while dealing directly with Terex in another. “This acquisition now allows us to go to the market with one face both for sales and service within those territories, which is a major benefit to the customers,” VanConant said.
Terex now has an almost entirely nationwide footprint with the exception of the New England states and Florida, which are covered by other distributors.
“We saw the opportunity to talk to Dueco about the possibility of acquiring,” he said. “It was simply the asking of a simple question and the timing was right.”