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H-E Parts International Acquires Getco Ltd
H-E PARTS INTERNATIONAL ACQUIRES GETCO LTD A LEADING DISTRIBUTOR OF QUALITY WEAR PARTS FOR HEAVY CONSTRUCTION AND MINING EQUIPMENT
Bill Miller and Getco's long standing team to remain in place.
Atlanta - Friday, March 16, 2007 - H-E Parts International, LLC, today announced it has completed the acquisition of Getco Ltd., one of North America's leading suppliers of Quality Replacement Wear Parts for all types heavy construction and mining equipment. Terms of the transaction were not disclosed.
Atlanta-based H-E Parts is headed by Mr. J.P. Richard, the former CEO of Massey Ferguson and AGCO Corporation (NYSE: AG), a global leader in farm equipment and parts distribution, and is funded by Frontenac Company, a Chicago-based Private Equity firm. Mr. Richard was also formerly the CEO of Pro Mach, Inc., another company financed by Frontenac. Richard said, "H-E Parts is a new company formed with the objective of becoming the premier worldwide distributor of Quality usedlrefurbished equipment and components as well as Aftermarket Parts primarily to the Mining and Construction sectors. The acquisition in February 2006 of Dorn-Ex, the largest North American distributor of reconditioned Heavy Equipment and Parts quickly followed by the acquisition of TractoAmerica and Grace Track are major steps toward achieving this goal."
As is the case with other H-E Parts acquisitions, Bill Miller will continue to run Getco Ltd., the Company he and his team have built for the last 25 years. He and Getco Associate, Brant York, have become a major strategic and financial partners in the successful accomplishment of H-E Parts' objectives. Other members of the Getco Ltd. management team will remain in place at the company's locations in Atlanta, Georgia, Phoenix, Arizona, Toronto, Ontario and Seattle, Washington.
Commenting about the acquisition, Bill Miller said, "The dynamics and makeup of H-E Parts will allow Getco to continue our growth and expansion by further enhancement in customer service, attention and quality while building on the reliability and quality relationships of current and future providers along our supply chain. It also will allow new opportunities for the individuals in our team that could not necessarily be realized in a smaller firm. Mr. Richard has demonstrated his skill in the assembly of large teams to drive and achieve goals successfully. I am excited about our opportunities and possibilities and I look forward to the challenges ahead".



