Trico Lift closes on Modern Group's lift assets

US aerial lift company, Trico Lift, has finalized the asset purchase agreement with Modern Group.

At the end of last year, Trico Lift entered into an agreement with Modern, which is based in Bristol, Pennsylvania, to buy the Modern Group's aerial assets. The integration of Modern's lift division will expand the Millville, New Jersey based company's fleet by more than 700 units, bringing its total fleet size to nearly 4,000.

Depots included in the agreement include one in Baltimore, Maryland, and another in Lancaster, Pennsylvania. The sharing of two Pennsylvania facilities in King of Prussia and Allentown is also part of the deal, increasing Trico Lift's depots to 13.

The agreement between the companies includes a reciprocating marketing alliance whereby Modern will market Trico Lift's aerial work platform products and services to its customer base and Trico Lift will assist in making referrals for Modern's industrial forklift products and services to its customer base.

Ken Pustizzi, Trico Lift's chief executive officer and president said, "The agreement with Modern aligns with our growth strategy to open new locations each year and will result in improved services to our respective customers and stakeholders.

"We're very excited about the deal and we're doing all that we can to successfully integrate these lift assets into our company. Most importantly, we're making business decisions aimed at making the transition as seamless as possible."

According to Mr Pustizzi, Trico Lift also recruited more than 30 Modern Group employees to maintain and improve customer service levels. "These top performing managers, territory managers, drivers, mechanics and administrative support persons have joined the Trico Lift team as part of the customer-focused arrangement," he said.