Custom Truck and Equipment/Utility One Source and Terex Utilities Form New Strategic Partnership
Kansas City, Missouri, January 24, 2018 – Custom Truck and Equipment/Utility One Source (CTE) and Terex Utilities today announced a strategic partnership to better serve the investor-owned utility (IOUs), electric contractor, and forestry segments in the U.S. The two industry-leading companies are teaming up to provide an enhanced commercial offering which will include increased availability to equipment packages, improved delivery cycle times, expanded product lines, flexible financing solutions, and cradle-to-grave fleet support, including asset disposal.
In the expanded alliance, Terex will leverage CTE’s industry expertise, end-user relationships, engineering capabilities and installation expertise to deliver enhanced products and services to IOUs and electric utility contractors. In addition to its significant rental inventory, CTE will grow on-hand and customizable equipment packages available for sale, and leverage high-volume chassis and body shipments to ensure timely delivery of custom orders. Expanded inventory will be available through CTE’s network of 24 locations throughout the U.S., and will include new and existing Terex Utilities product lines. CTE already provides the chassis and installation on more than 6,000 trucks through 11 state-of-the-art installation facilities nationwide. CTE will pursue continued expansion of its installation capacity through acquisitions and organic growth. CTE will respond to the ongoing needs of the market with equipment innovations by expanding Load King’s portfolio of manufactured products.
CTE’s broad product offering, enhanced by its growing partnership with Terex Utilities, makes it a top supplier to the electric utility markets throughout North America. Customers will benefit from CTE’s robust portfolio of equipment solutions, aftermarket parts, maintenance and service through a 24/7 call-in-center manned by in-house technicians, equipment remounting and remanufacturing, trade-ins, and liquidity of unusable equipment through CTE’s asset disposal services. Customers can also leverage flexible, customized leasing and financing solutions through Custom Truck Capital.
“Electric utility contractors throughout the U.S. rely on us to deliver mission critical equipment solutions that ensure they work more efficiently,” said Fred Ross, CEO of CTE. “I am delighted to announce this new partnership with Terex Utilities, and am certain it will allow us to better serve investor-owned utilities and electric utility contractors.”
“We carefully evaluated the electric utility segment and are pleased to announce an expanded partnership with CTE that complements our existing comprehensive dealer and rental network,” said Clint Weber, General Manager of Terex Utilities. “We are committed and engaged with our partners to listen, understand and quickly provide innovative solutions for electric utility customers. This partnership reflects that commitment.”
This announcement is the latest milestone in CTE’s ongoing strategy to deliver superior equipment solutions to all heavy equipment markets it serves. For more information about Custom Truck and Equipment, visit www.utility1source.com.
About Custom Truck and Equipment/Utility One Source:
Custom Truck and Equipment, a Utility One Source company, is eight companies in one: the first true single-source provider of specialized truck and heavy equipment solutions. From sales and rentals to manufacturing and aftermarket services, our team of experts, vast equipment breadth and premier integrated network of locations across North America offer superior service and incomparable efficiency for our customers. Dig in at www.utility1source.com and keep up with us on Facebook and Twitter.
About Load King:
Load King has been producing first-class trailers and specialized bodies for heavy equipment industries since 1956. Cutting-edge innovation and engineering excellence make us a market leader. As a key part of the Utility One Source family of brands, we offer a complete line of custom designs as well as standard model trailers and bodies through our world-class dealer network. To learn more, visit loadkingtrailers.com or connect with us on Facebook.
About Terex Utilities:
Terex Corporation is a lifting and material handling solutions company reporting in five business segments: Aerial Work Platforms, Construction, Cranes, Material Handling & Port Solutions and Materials Processing. Terex manufactures a broad range of equipment serving customers in various industries, including the construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying and mining industries. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services.