Dobbs Management Acquires Seven John Deere Construction & Forestry Stores from Nortrax

Dobbs Management Service, LLC (“Dobbs”), a family investment office based in Memphis, TN, has acquired seven  John Deere Construction and Forestry Stores serving the South Florida market.  The purchase, through DJD Equipment Holdings, LLC, included full service stores in Lutz (Tampa), Orlando, West Palm Beach, Miami and Ft. Myers, FL., in addition to parts only stores in Pompano and Riverview, FL.  The business will operate as Dobbs Equipment and will keep its business headquarters in Tampa.

 “We believe this sale represents a key strategic distribution move for John Deere and Nortrax,” said Nortrax President and CEO Tim J. Murphy.  “The Dobbs family has a phenomenal track record going back to 1920 of investing and growing business for the long term.  They are hiring all of the Nortrax Florida employees which will retain the expertise and more importantly the relationships with the Florida customers.  They bring a proven track record, great financial stability and a long term commitment to grow and support the John Deere brand in the Florida market.  I believe this is an exciting move for the Dobbs Family, for John Deere, for the new Dobbs employees and most of all, for our customers.”

Edward Dobbs, Chairman, expressed enthusiasm with the acquisition, “We are excited to partner with John Deere as a dealer in the Florida market.  Our family has decades of experience in successfully representing top tier manufacturers.  We believe that John Deere represents the highest quality products and customer support in the market; we look forward to a strong and successful long-term relationship with Deere & Co., as we are a long-term owner with a time horizon measured in decades.  There is tremendous growth potential for the John Deere brand in the Florida market and we have plans to expand John Deere’s presence in the region through additional investment and resources over the coming years.” 

McNally Capital (“McNally”) initiated discussions between Dobbs and John Deere with regards to this transaction as well as assisted as an advisor to Dobbs.  In addition, McNally made an equity co-investment, which is consistent with the firm’s merchant banking activity.  Edward Dobbs commented, “McNally Capital introduced us to this unique opportunity with John Deere and worked tirelessly, providing tremendous insight and advice.  We look forward to having McNally as our partner going forward.”

Nortrax, Inc., is a John Deere company that operates John Deere construction and forestry dealerships throughout the United States and Canada.  They are committed to serving those linked to the land based on the core values of integrity, quality, commitment and innovation, values that have sustained John Deere for over 180 years.  Based in Tampa, FL, the company supports the construction, forestry, commercial worksite and mining markets in Eastern Canada, as well as the Midwest, and Northeast Regions of the United States. Nortrax specializes in the sales, service and support of John Deere construction and forestry machines through the new, used and rental channels.  Additional information about Nortrax, Inc., its products, services and career opportunities can be found online at www.nortrax.com.

Dobbs Management Service, LLC is the family investment office led by Edward J. Dobbs.  The Dobbs family has a nearly 100 year history of successful long-term investing.  DMS’s investment strategy is flexible but focuses on business-to-business services, distribution and healthcare services.  The family currently owns several other companies including Premier Distributing, a beverage distributor representing Anheuser-Busch; heavy duty truck distributors, GWP Holdings, LLC and DPTC Holdings, LLC which represents Peterbilt, Volvo and Mack; Highline Aftermarket Holdings, an automotive aftermarket distributor; Strategic Behavioral Health, an inpatient psychiatric hospital company; and, Potter Electric Signal, LLC, an international fire and security controls manufacturer.  Additional information may be found about Dobbs Management Service at www.dobbsmanagement.com.  Additional information can be found out about Dobbs Equipment, LLC at www.dobbsequipment.com.

McNally Capital focuses exclusively on direct family capital through efforts related to making direct private equity investments and providing merchant banking advisory services. With an emphasis on partnership, McNally harnesses the financial, intellectual, and human capital of our family office ecosystem to build value for family office investors, management teams and operating companies. We maintain a private network of over 800 family offices with whom we collaborate to make and manage direct investments. For more information, please visit: http://www.mcnallycapital.com.

You can view all of Nortrax’s Inventory online at Rock & Dirt.