Wednesday, December 8, 2010

Trico Lift and Modern Group Announce Unique Business Alliance

Ken Pustizzi, President & CEO of Millville, N.J. based Trico Lift, a privately owned company and leading access equipment provider, and Dave Griffith, President & CEO of Bristol, Pa., headquartered Modern Group Ltd, one of the nation’s largest industrial equipment distribution firms, today announced that the two firms have entered into a strategic alliance to better serve their respective customers and stakeholders.

Trico Lift will assist Modern with the marketing of Modern’s industrial forklift, power systems and material handling products and services to its customer base and Modern will assist Trico Lift with marketing Trico Lift’s aerial lift products and services to its customer base. As part of the agreement, Modern will sell a portion of its aerial lift assets to Trico Lift, thereby increasing Trico Lift’s fleet size to 4,000 units.  Trico Lift and Modern will also collocate facilities in King of Prussia and Allentown, Pennsylvania. In addition, Trico Lift is acquiring Modern's Baltimore branch.

According to company officials, the respective companies have unique business models that, with dedicated focus to the customer base, will improve customer service levels and leverage the financial performance and investments of both firms. In announcing the alliance, both Chief Executives say they are focused on the opportunity in the region’s industrial markets and the strength the partnership will bring to realizing the benefits for their common customers, employees and shareholders.

“The arrangement with Modern enables both companies to remain focused on their core competencies and creates an even stronger opportunity for both organizations to grow in our common target markets.” Pustizzi said.  “However, the most important benefit will be the opportunities the partnership will bring to our employees, our customers, and our future customers.”

“We admire Trico Lift as a market leader whose customer focus is aligned with Modern’s. The agreement to collocate in King of Prussia and Allentown is an innovative alliance and will allow us both to better serve our customers,” said Griffith.

Trico Lift is a full-service aerial work platform company with nine locations serving customers in the Mid-Atlantic, Midwest and Gulf region markets.   The company specializes in the rentals, sales, leasing and servicing of aerial lifts.  Its equipment fleet, made up primarily of boom lifts, scissor lifts and telescopic forklifts, has been ranked the 14th largest in North America and among the top 50 access fleets in the world.

Founded in 1946, Modern Group, a 100% employee owned company, ranks among the nation’s largest independent distributors of material handling, construction, rental, and stand-by power generation equipment. Modern Group’s companies provide sales, leasing, short-term rental, service, parts, training and financing solutions. Modern employs more than 350 people at its locations throughout Pennsylvania, New Jersey, and Delaware.

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