Volvo CE Dealer Rudd Equipment Acquired by Ferronordic
Published: 28/12, 2023
Ferronordic, an established European-based dealer for Volvo Construction Equipment, Volvo Trucks, and Renault Trucks, is entering the US market with the acquisition of Louisville, Ky.-based Rudd Equipment. The transaction closed on November 30, 2023. With more than 360 employees across 13 locations, Rudd Equipment is the exclusive Volvo CE dealer for the entire states of Kentucky and Ohio, and most of Indiana. Their territory also includes parts of Missouri, Illinois, West Virginia, Pennsylvania, Tennessee, and Maryland. Ferronordic will continue to offer the full range of Volvo products and solutions under the Rudd Equipment banner.
“This is a transformational transaction for us,” says Ferronordic CEO Lars Corneliusson. “We have been looking for opportunities to expand geographically in other regions, mainly in developed markets. Rudd is a good strategic fit for Ferronordic and provides the platform and scale we have been looking for in the US. The acquisition gives us a strong base in a dynamic market that opens potential for further growth in North America.”
Rudd Equipment was founded in Louisville in 1952 by Mason Rudd. In 1975, his son Mike, joined the company and over the next 48 years focused on expanding its footprint into neighboring states. Ferronordic does not foresee any major changes to the current organization of Rudd Equipment, with Mike Rudd continuing with the company for an indefinite period.