Terex Corp. has acquired “substantially all of the assets” of Dueco, Inc., the company announced. The acquisition brings Dueco’s sales and service operations, which have responsibility for Terex Utilities products in 17 states, into the utilities and services business units of Terex Corp.
“Dueco has been a major part of our business for the past 55 years,” said Don Anderson, vice president and general manager of Terex Utilities. “We are very happy to have the opportunity to bring their entrepreneurial spirit and customer responsiveness into our organization. This acquisition shows our commitment to continue to invest in bringing better solutions to our customers in the global utility and services markets. We’re eager to move forward and continue to build on our recent growth while helping our customers to succeed.”
Financial terms of the deal weren't disclosed.
“We are very glad to be an integral component of Terex now,” said Judie Taylor, president and CEO of Dueco. “Dueco’s philosophy has always been to focus on our customers and our team, with a passionate desire to take care of both. Our customers will benefit from the vertical integration and seamless depth of expertise with our combined teams to support customers nationwide and even globally. Our team members, some of whom have been with us for decades, will be able to grow and prosper as Terex grows within the electric utility market. Historically, the Terex and Dueco team members have been working on parallel paths to support the customers in the marketplace. It is a natural synergy, and we are excited that the collaboration of the combined teams, and the breadth and depth of their knowledge-base, will be unsurpassed in the industry. We are ready to build and grow the Terex brand.”