GREENVILLE, N.C. (October 3, 2016) – Hyster-Yale Group, Inc. is pleased to announce that Briggs Equipment has executed a definitive agreement to acquire certain assets from and assume certain contracts of Stewart & Stevenson Material Handling LLC, and upon completion of the transaction, accept the appointment as the authorized Hyster® dealer in portions of Texas and New Mexico. Subject to due diligence, the transaction is expected to close in late October 2016.
About Briggs Equipment
Briggs Equipment, a Briggs International business, is a wholly-owned subsidiary of the parent company; Sammons Enterprises, Inc. Briggs Equipment was established in 1896 as Briggs-Weaver in Dallas, Texas. The company is one of the oldest and most trusted materials handling equipment providers in the United States, representing Yale® products since 1958. Briggs offers a range of industrial equipment for sale, short and long-term rentals, parts, and service. For more information, visit http://www.briggsequipment.us/
About Stewart & Stevenson
Stewart & Stevenson, founded in Houston, Texas in 1902, is a leading provider of specialized equipment and aftermarket parts and service primarily to the global oil and gas industry and a range of other industrial sectors. Stewart & Stevenson, which has represented Hyster® products since 1959, intends to concentrate on the expansion of its equipment rental business beyond its traditional territorial presence with particular emphasis on the Eastern seaboard. For more information, visit http://www.stewartandstevenson.com
About Hyster-Yale Group
A world leader in the lift truck industry, Hyster-Yale Group designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names. Hyster-Yale Group, Inc. is a wholly owned subsidiary of Hyster-Yale Materials Handling, Inc. (NYSE:HY). Hyster-Yale Materials Handling, Inc. and its subsidiaries, headquartered in Cleveland, Ohio, employ approximately 6,300 people world-wide.
Manager, PR and Communications Hyster-Yale Group