Rolling Meadows, Illinois-based Komatsu America Corp. has announced 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.
Via the agreement, Komatsu America will purchase the assets of PBE group, subject to a period of due diligence and final approval of Japan-based Komatsu Ltd. Not included in the sale will be the Kubota line of equipment and parts carried by PBE. The planned closing date for the sale is April 1, 2018.
The new entity, to be named later, will assume PBE Group’s trade territory, which includes all of Connecticut, excluding Fairfield county, and certain counties in southeastern New York state. The agreement covers 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,” Komatsu states in a press release.
“We’ve said in the past that Komatsu America is committed to excellence in the Northeast region of the U.S.,” says Rod Schrader, CEO, Komatsu America. “Investments in Midlantic Machinery, Edward Ehrbar, Komatsu Northeast and now Pine Bush, demonstrate the company’s determination to walk our talk. 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.”
Once the sale is complete, the new entity will be part of a larger group of distributors, designed to provide more equipment and parts inventory availability and greater service and support resources to customers. “Substantially, all employees, facilities, and customer support infrastructure from PBE Group will be retained,” states Komatsu America.
Komatsu America Corp. is a U.S. subsidiary of Komatsu Ltd., the Japan-based manufacturer and supplier of earthmoving machinery that includes construction, mining and compact construction equipment.