Vermeer purchases minority equity investment in MultiOne
Distribution of Vermeer-branded compact articulated loaders expands to Vermeer dealers worldwide
Vermeer Corporation has purchased a minority equity investment in MultiOne, a leading manufacturer of compact articulated loaders.
This investment comes a year after Vermeer entered a distribution agreement with MultiOne to supply Vermeer-branded loaders to be sold, serviced and supported exclusively through Vermeer dealers across North America and the Caribbean.
Building on the early success of last year's agreement, distribution of Vermeer-branded loaders produced by MultiOne will now expand to Vermeer dealers worldwide beginning this year. MultiOne will also continue to provide blue, MultiOne-branded loaders through its existing distribution partners outside North America.
"We are excited to take our partnership with MultiOne to this next level," said Doug Hundt, president of Vermeer Industrial Solutions. "The demand for compact loaders is growing worldwide, and this puts Vermeer in a great position with a lineup of proven products, attachments and dealers to help our customers reduce their labor needs and get more important work done."
MultiOne will continue under the leadership of Fiorenza Carraro and Stefano Zanini, with global holdings company, Lifco, taking on majority ownership. Its main operations and manufacturing will remain headquartered in Vicenza, Italy.