Utility One Source Announces Acquisition of North American Equipment Upfitters

Kansas City, Missouri, April 4, 2017 (Newswire.com) - ​​​Utility One Source (“UOS”) today announced the recent acquisition of North American Equipment Upfitters (“NAEU”), a leading provider of quality aerial truck upfitting services to telephone, utility and cable companies as well as municipalities, private sector crane businesses and fire apparatus. Based in Hookset, New Hampshire, NAEU’s existing management continues to provide the Northeast region with exceptional upfitting services while growing the business as part of Utility One Source. Utility One Source, founded by private equity funds managed by Blackstone in 2015, is a single-source supplier for the utility and heavy equipment industries with a focus on sales, rental, parts and service, remanufacturing, and equipment customization.

“I am very pleased to welcome North American Equipment Upfitters to the Utility One Source family”, said UOS CEO Fred Ross. “We are excited to add NAEU’s upfitting and service expertise to our Northeast market. This addition demonstrates our commitment to expand our footprint, better serving the heavy equipment and utility industries.”

"We are thrilled to join Utility One Source in their movement to provide quality products and services to North America. We look forward to being a part of UOS's continued growth by offering our services and support."

Michael Dunican, President, NAEU

North American Equipment Upfitters President Michael Dunican said, “We are thrilled to join Utility One Source in their movement to provide quality products and services to North America. We look forward to being a part of UOS’s continued growth by offering our services and support.”

The addition of North American Equipment Upfitters marks the seventh acquisition under the Utility One Source brand since its formation in February 2015, and is validation of its pledge to build a national footprint and a wide breadth of product offerings. Funds managed by Blackstone will continue to provide growth capital for significant additional investment in equipment, innovation and an expanded geographic footprint, which will ensure Utility One Source has the customer-focused solutions the industry requires.

About North American Equipment Upfitters
Founded in 1999 with offices in Hooksett, New Hampshire and Syracuse, NY, North American Equipment Upfitters provides quality upfitting services including aerials, cranes, transfers and liftgate installation to the Northeast United States. NAEU additionally provides general in-house and road services throughout New England and Upstate New York including Inspections and Di-electric testing. NAEU is an official inspection station for the State of New Hampshire and offers full engine repair and collision repairs to their customers.

About Utility One Source
Utility One Source (UOS) is comprised of seven industry-leading equipment providers; five family-operated businesses (Custom Truck & Equipment, Utility Fleet Sales, Forestry Equipment of Virginia, UCO Equipment, and TNT Equipment), Load King, the known manufacturer of highly proficient and customizable trailers, and now North American Equipment Upfitters. UOS’ establishment continued growth ever since its inception in February of 2015 represent the platform’s collective commitment to perpetual expansion of and dominance within each legacy company's equipment focus. The platform’s collaborative portfolio leverages the expertise of each esteemed partner, boasting a truly unparalleled range of equipment and service offerings upon which the company will pursue unending evaluation and optimization to ensure an indelible position at the forefront of equipment innovation, within the utility and heavy equipment industries.

Source: Utility One Source