Sunbelt Industrial Trucks of Dallas, TX announces the sale of its Houston operations to Miner Material Handling. The sale was closed on the 23rd of March.
Miner acquired Dallas based CE-DFW Warehouse Solutions in April 2016. CE-DFW is an authorized Doosan, Linde, Donkey and Genie dealer in North Texas.
They were interested in expanding to Houston, so the acquisition of Sunbelt Industrial Trucks, the Doosan dealer in that market, was beneficial to both parties.
Sunbelt is a subsidiary of SBNA Holdings, Inc. Approximately 5 years ago, one third of the stock was sold to employees and management team. The remaining shares, owned by Bill Rowan and Warren Cornil, the founders, will be sold to the ESOP and managing partners later this year. Miner's acquisition of Sunbelt's Houston operation will allow Sunbelt to focus concentration on the Dallas market.
Miner Material Handling now has operations in Dallas, Houston and Phoenix. Sunbelt wishes Miner continued success in Houston, and is confident that its former employees and customers are in good hands.
Terms of the transaction were not disclosed.