Foley Equipment Co., Wichita, Kan., has reached an agreement to acquire Dean Machinery, Kansas City, Mo. The transaction, which includes the assets of Dean Machinery’s construction and power systems divisions, is expected to close in January 2012, pending due diligence and regulatory approvals.
Once the transaction is complete, Foley Equipment will become the exclusive Caterpillar dealer for 104 counties Kansas and 40 counties in Northwest Missouri.
“This is an extremely exciting opportunity for Foley,” said Ann Konecny, president of Foley Equipment. “We continually look for opportunities to grow and expand our business while keeping our customers at the center of everything we do as a company. This strategy and focus has served our customers and our business very well.”
Founded in 1942, Foley Equipment currently operates 15 locations in Kansas. Dean Machinery, also a family owned Caterpillar dealership, was established in 1955 and has five locations in Missouri and one location in Olathe, Kan.
“I look forward to working with Lori Dean and her team at Dean Machinery over the coming weeks and months to ensure a smooth and seamless transition,” added Konecny. “This acquisition positions us well for the future. We are delighted about this expansion and look forward to delivering the high quality and outstanding service that Foley Equipment customers have come to know and expect in a larger territory.”