McLaughlin Group Inc. has announced that Vermeer Corporation, along with Jeff Wage — a veteran professional of the underground construction industry — has made a minority equity investment in the company.

Dave Gasmovic, president of McLaughlin, is the primary shareholder and will continue to lead operations. Wage joins McLaughlin as vice president and an equity partner, while the minority equity investment by Vermeer provides a deeper strategic relationship with McLaughlin.

“The Vermeer investment in our company is a strategic business partnership that positions both for further success,” said Gasmovic. “Our current partners and customers will not be affected by this change and can count on the consistent support they’ve come to expect with McLaughlin.”

“Vermeer has had a long-standing relationship with McLaughlin by representing its vacuum products and utilizing McLaughlin as an OEM supplier on components for our underground products, most recently with the new Vermeer piercing tool line,” said Dave Wisniewski, vice president of the underground segment of Vermeer Corporation. “The purpose of this investment is to secure a competitive position in the market.”

This new ownership arrangement will not affect the current branding or distribution of McLaughlin products, including vacuum excavation systems, auger boring systems, locators and attachments.

For more information, visit www.mightymole.com.

Today's top stories

Construction Market Boosts Economy

Bobcat Company Donates $885,000 in Equipment to Support Salvation Army's Disaster Relief Efforts

VIDEO: KEMROC Expands; Plans to Increase Nationwide Presence

'Machinery Pete' Interviews Jack Lyon On RFD TV

VIDEO: Two Major Roadway Project Contracts Awarded by State Officials in West Virginia

VIDEO: First of Two Sections of NYC's $1.45B East Side Coastal Resiliency Project Is Complete

John Deere Construction Introduces Flexible Customer Training Options

INFRA Grant Moves Ohio's N. Coast Connector Project Steps Closer