Tdworld 7554 Utility One Source

Utility One Source Acquires North American Equipment Upfitters

April 14, 2017
Utility One Source has announced the recent acquisition of North American Equipment Upfitters

Utility One Source has announced the recent acquisition of North American Equipment Upfitters, a provider of aerial truck upfitting services. Based in Hookset, New Hampshire, NAEU’s existing management continues to provide the Northeast region with exceptional upfitting services while growing the business as part of Utility One Source. Utility One Source, founded by private equity funds managed by Blackstone in 2015, is a single-source supplier for the utility and heavy equipment industries with a focus on sales, rental, parts and service, remanufacturing, and equipment customization.

“I am very pleased to welcome North American Equipment Upfitters to the Utility One Source family”, said UOS CEO Fred Ross. “We are excited to add NAEU’s upfitting and service expertise to our Northeast market. This addition demonstrates our commitment to expand our footprint, better serving the heavy equipment and utility industries.”

North American Equipment Upfitters President Michael Dunican said, “We are thrilled to join Utility One Source in their movement to provide quality products and services to North America. We look forward to being a part of UOS’s continued growth by offering our services and support.”

The addition of North American Equipment Upfitters marks the seventh acquisition under the Utility One Source brand since its formation in February 2015, and is validation of its pledge to build a national footprint and a wide breadth of product offerings. Funds managed by Blackstone will continue to provide growth capital for significant additional investment in equipment, innovation and an expanded geographic footprint, which will ensure Utility One Source has the customer-focused solutions the industry requires.

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