Komatsu America Signs Agreement to Purchase East Coast Distributor Pine Bush Equipment
ROLLING MEADOWS, IL Komatsu America Corp. announces that, through its subsidiary F and M Equipment Ltd., it has entered into a purchase agreement with PBE Group, consisting of Pine Bush Equipment Co. Inc. and East PBE Inc., to purchase the assets of PBE group, subject to a period of due diligence and final approval of Komatsu Ltd. (with the exception of the Kubota line of equipment and parts).
The new entity, to be named later, will assume PBE Group's trade territory, which ranges from all of Connecticut, excluding Fairfield county, to select counties in southeastern New York state. This includes all Komatsu construction, mining and utility equipment sales and rentals, parts, service and customer support activities.
The Boniface family, who launched the Pine Bush Equipment Company in 1956, will continue with the new operating company, providing continuity and support as Komatsu continues to strengthen the company's reputation as a trusted equipment partner in the region.
"We've said in the past that Komatsu America is committed to excellence in the Northeast region of the U.S. Investments in Midlantic Machinery, Edward Ehrbar, Komatsu Northeast and now Pine Bush, demonstrate the company's determination to walk our talk," said Rod Schrader, CEO, Komatsu America. "Our goal remains the same: provide the extra support the team in place needs to deliver unrivaled products, services and solutions that exceed customer expectations."
The new unit will support Komatsu's long-term strategic plans to grow and strengthen the distribution channel. Once the sale is complete, the new entity will be part of a much larger group of premiere distributors, which for customers, will mean more equipment and parts inventory availability, and greater service and support resources. Substantially, all employees, facilities, and customer support infrastructure from PBE Group will be retained. No other transaction terms will be disclosed.