Utility One Source announced a partnership with UCO Equipment (UCO), a provider of specialty equipment and services to the utility, power, and oil and gas sectors.
Based in Cabot, Ark., UCO will remain a family-owned and operated business. UCO’s existing management team, led by Rhonda and Jim Usery, will continue to lead and to grow the business as part of Utility One Source. Utility One Source, founded by private equity funds managed by Blackstone earlier this year, is a single-source supplier for the utility and heavy equipment industries with a focus on sales, rental, parts and aftermarket services, remanufacturing, customized equipment and transportation nationwide.
“We are pleased to welcome UCO’s management team and its highly-skilled and dedicated employees to the Utility One Source family,” said Utility One Source Chairman Chris Ragot. “UCO is a great fit with our growth strategy and we are excited to expand our geographic footprint in both Arkansas and the greater Houston area as well as to increase our product offerings. We look forward to working with UCO in the years ahead, as we continue to grow to become the largest supplier in the utility and heavy equipment industries.”
Rhonda Usery, UCO president and CEO, said, “UCO is very excited to join UOS. We look forward to using our unique track-based equipment experience to grow Utility One Source, and to better serve our customers nationwide.”UCO represents the first acquisition by Utility One Source since its formation in February 2015 and demonstrates its commitment to a national infrastructure and breadth of product offerings."
Utility One Source is comprised of four family-owned and operated businesses: Custom Truck & Equipment, Utility Fleet Sales, Forestry Equipment of Virginia (FEVA) and UCO Equipment. The partnership, with a combined 14 locations nationwide will collectively offer sales, rentals, parts and aftermarket services, remanufacturing, customized equipment and transportation. Utility One Source will build upon the market positions of each company, while serving as a single source supplier for the utility and heavy equipment industries.