Adobe Equipment
In July 2008, Milestone completed a
purchase of all of the Houston-based assets of Adobe Equipment Holdings,
Ltd. through a newly formed entity, Adobe Equipment Houston, LLC
(“Adobe”). Milestone purchased an eighty percent interest in the newly
formed entity, with the remaining interest being held by the original
owners.
Adobe is comprised of two full service forklift dealerships, Caterpillar
and Nissan, and new and used trailer sales / service business. Both
forklift dealerships incorporate new and used product sales, parts
sales, equipment service and forklift rentals. The Caterpillar
dealership sells predominately Caterpillar products, but also sells
complementary products from Kalmar, Donkey, Mastercraft, Noble, JLG,
Capacity, Shuttlewagon and Nilfisk Advance. The Nissan dealership sells
primarily Nissan forklifts, but also sells products from Barrett,
Schaeff and Heli. The trailer operation sells and repairs a variety of
trailers, including Wabash, Manac, Transcraft, CPS and Talbert.
Some of the major customers of these dealerships include Richway
Cartage, Gulf Stream Marine, Palmer Distribution, Tridex / Mastertile,
City of Houston, among others. Additionally, the Caterpillar dealership
is currently ranked as the Number 1 dealership in the United States,
while the Nissan dealership in currently ranked as the Number 2 in
dealership the United States by their respective manufacturers.