Heritage Capital Group Announces the Successful Sale of Pile Equipment, Inc. to Equipment Corporation of America
AUGUST 2015 -
Heritage Capital Group (“Heritage”) is pleased to announce the successful sale of Pile Equipment, Inc. to Equipment Corporation of America (“ECA”).
Pile Equipment is a leading heavy equipment rental and sales company servicing the Southeastern United States. Their products are focused on serving the pile driving segment and include vibratory pile driver extractors, diesel pile driving hammers, hydraulic augers, pile hammer leads and a variety of other foundation installation equipment and accessories.
Established in 1987 by Mike Elliott, Mark Rutland, and Dick Nelson, Pile Equipment has been servicing the foundation construction industry with the highest standards of qualityfor over 25 years.
Equipment Corporation of America has been a prominent distributor of specialized foundation construction machinery for heavy commercial, civil, mining and marine construction projects for over 90 years. ECA has facilities in Pittsburgh, Philadelphia, Washington, D.C., and Toronto, ON. They maintain rental equipment fleets, service technicians and product specialists, field service support trucks and spare parts inventories in each location.
Mac Holley, the principal with Heritage that led the transaction stated, “It was a pleasure working with Mark and Mike. They built a nice company over the past 20+ years and I was honored to assist them with the sale. They have known ECA for many years and the match of the two companies is a perfect fit. Pile Equipment will give ECA a strong foothold in the Southeast to expand their nationwide reach in the pile driving equipment industry.”
Mark Rutland, co-founder and CEO of Pile Equipment commented, “Heritage Capital provided the guidance and counsel needed to realize the sale of our company. Mac was by our side during the negotiations and extreme due diligence process. Having never sold a company before, we were grateful to have Heritage lead us through the challenges we faced along the way to reaching our goal.”
Heritage Capital Group provides a range of investment banking services, including buy-side and sell-side M&A advisory work, business valuations, litigation support, exit planning, value enhancement and strategic advisory services, including restructuring and reorganization consulting. Heritage Capital Group is a FINRA regulated broker-dealer and the Florida headquarters of M&A International Inc., which extends their capabilities on a global scale.