Trico Lift and Modern Group announce alliance

New Jersey access rental company Trico Lift and Pennsylvania-based industrial equipment distributor Modern Group Ltd. have agreed an alliance where both companies will promote each others products and services.

Trico Lift will help market Modern's industrial forklift, power and material handling business to its customers, while Modern will market Trico Lift's aerial lifts to its customer base. There is no shared ownership between the two and they remain independent companies, said Trico spokeswoman Terry Carpenter.

As part of the agreement, Modern will sell 750 aerial platforms to Trico Lift, growing Trico's fleet to 4,000 units. In addition, the two will co-locate facilities in King of Prussia and Allentown, Pennsylvania, with details still being worked out over who will own the co-located depots. Trico Lift is also acquiring Modern's Baltimore branch.

"Modern approached us because they are experts at industrial forklifts and they recognize we're the best at booms, scissors and telehandlers," Ken Pustizzi, president and chief executive officer of Trico Lift, told ALH. "We came to an agreement realizing that such an arrangement creates an even stronger opportunity for both organizations to grow in our common target markets."

Dave Griffith, president and chief executive officer of Modern Group, said; "We admire Trico Lift as a market leader whose customer focus is aligned with Modern. The agreement to co-locate in King of Prussia and Allentown is an innovative alliance and will allow us both to better serve our customers."

Both chief executives said 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."

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 is made up primarily of boom lifts, scissor lifts and telescopic forklifts.

Founded in 1946, Modern Group is a 100 percent employee-owned company and 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 finance. It employs more than 350 people at its locations throughout Pennsylvania, New Jersey and Delaware.