Premier Equipment Company Expands with Winston Tractor Acquisition
Performance Brokerage Services, a leader in dealership buy-sell activity, has facilitated the acquisition of Winston Tractor Company by Premier Equipment Company. This significant opportunity marks a pivotal moment in the evolution of both companies.
The Legacy of Winston Tractor Company
Winston Tractor Company, a family-owned business operated by the Cockerham family, boasts a rich legacy exceeding 60 years in the equipment industry. The family's journey began in the 1960s with the launch of Charlotte Tractor, later branching into various locations throughout the region.
Transition to Premier Equipment Company
Winston Tractor Company’s expertise in agricultural and construction equipment, particularly as an authorized New Holland and Massey Ferguson dealer, complements Premier Equipment Company’s strategic goals. The dealership's inventory includes not only tractors but also Bobcat and Bush Hog equipment, trailers, loaders, and excavation gear.
Insights from Co-Owner Bobby Cockerham
Reflecting on the decision to sell, Bobby Cockerham, Co-Owner of Winston Tractor Company, expressed deep appreciation for the support from Performance Brokerage Services. He stated, "After nearly 40 years of operating our New Holland dealership, our family chose to sell, and Pat Albero from Performance Brokerage Services was instrumental in that process. His industry knowledge and engagement made this transition smooth and respectful of our values. I highly recommend him and his team to anyone in the equipment dealership community considering a sale."
Performance Brokerage Services' Role
Over the past five years, Performance Brokerage Services has facilitated the sale of approximately 400 dealerships, solidifying its reputation as North America’s highest volume dealership brokerage firm. Pat Albero and Dan Argiro, Senior Partners at Performance Brokerage Services, served as exclusive advisors in this acquisition.
Pat Albero’s Perspective
Pat Albero commented, "Guiding the sale of Winston Tractor Company was a significant privilege for us. This transaction aligns two organizations dedicated to enhancing customer and community service. With the robust resources and expertise of Premier, the clients at Winston Tractor will benefit from improved service offerings and quality."
About Premier Equipment Company
Premier Equipment Company is affiliated with Curtis Lane Equipment, functioning as a full-service dealership specializing in agricultural, construction, and landscaping equipment. Following their acquisition of Winston Tractor Company, Premier is set to operate five additional locations throughout the state, catering to eastern and central North Carolina.
The company’s product range includes New Holland and Case IH equipment, along with an extensive selection of pre-owned machinery, parts, and customer services. With a dedicated team of 80 employees, Premier Equipment is well-equipped to meet diverse client needs while continuing the legacy initiated by Winston Tractor Company.
Statement from President Spencer Bellamy
Spencer Bellamy, President of Premier Equipment Company, shared his enthusiasm about the acquisition, stating, "We are thrilled to expand our operations with the addition of Winston Tractor. Our shared commitment to fostering strong relationships with our customers, employees, and communities is essential to both companies' missions. We look forward to serving the region's agricultural producers, homeowners, contractors, governmental agencies, and businesses previously served by Winston Tractor."
Future Developments
Following the transition, Winston Tractor Company will operate under the name Premier Equipment Company while maintaining its current location. This change signifies a step forward in enhancing service delivery and broadening the range of offerings to customers in the region.
About Performance Brokerage Services
Performance Brokerage Services, Inc. is recognized as North America’s leading dealership brokerage firm, accounting for thousands of buy-sell transactions across automotive, RV, commercial truck, powersports, and equipment dealerships. With over three decades in the industry, the firm boasts a remarkable track record with a closing rate of 90%.
The firm differentiates itself by offering complimentary estimates of dealership value, requiring no upfront fees or retainers. Their focus on success fees paid only after closing transactions exemplifies their commitment to client satisfaction.
Headquartered in Irvine, California, Performance Brokerage Services operates through 12 regional offices, providing clients with extensive exposure in both the local and national markets. They leverage a vast network of industry professionals, including attorneys and accountants, along with longstanding relationships with equipment manufacturers.
Frequently Asked Questions
What led to the acquisition of Winston Tractor Company?
The acquisition was driven by the strategic alignment between Winston Tractor Company and Premier Equipment Company, aiming to enhance services and broaden product offerings.
Who facilitated this acquisition transaction?
Performance Brokerage Services acted as the exclusive sell-side advisors, leveraging their extensive industry experience to navigate the sale effectively.
What equipment brands does Winston Tractor Company offer?
Winston Tractor Company is an authorized dealer of New Holland and Massey Ferguson, along with carrying Bobcat and Bush Hog equipment.
What is the future of Winston Tractor Company after the acquisition?
Following the acquisition, Winston Tractor Company will operate under the name Premier Equipment Company while remaining at its current location, ensuring continuity for its customers.
How does Performance Brokerage Services stand out in the industry?
Performance Brokerage Services highlights their unique model of no upfront fees and a high closing rate in dealership transactions, making them a trusted leader in the marketplace.
