McLaughlin Group Inc. has announced that Ver-meer Corp., along with Jeff Wage – a veteran professional of the underground construction industry – has made a minority equity investment in the company.
Dave Gasmovic, president of Green-ville, S.C.-based McLaughlin, is the primary
shareholder, and will continue to lead operations. Wage joins McLaughlin as
vice president and an equity partner, while the minority equity investment by
Vermeer provides a deeper strategic relationship with McLaughlin.
“The Vermeer investment in our company is a strategic business partnership that
positions both for further success,” explains Gasmovic. “Our current partners
and customers will not be affected by this change, and can count on the
consistent support they’ve come to expect with McLaughlin.”
“Vermeer has had a long-standing relationship with McLaughlin by representing
its vacuum products and utilizing McLaughlin as an OEM supplier on components
for our underground products, most recently with the new Vermeer piercing tool
line,” says Dave Wisniewski, vice president of the underground segment for
Pella, Iowa-based Vermeer Corp. “The purpose of this investment is to secure a competitive
position in the market.”
This new ownership arrangement will not affect the current branding or
distribution of McLaughlin products, including vacuum excavation systems, auger
boring systems, locators and attachments.
FFor more information on McLaughlin products and
services, visit the company’s website at www.mightymole.com.
Vermeer Makes Equity Investment
December 1, 2011