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September 22, 2005 – COLORADO SPRINGS,
CO – Colorado Machinery, LLC, the leading dealer of John Deere,
Bobcat and Ingersoll-Rand products in the Rocky Mountain region,
serving Colorado since 1928, has engaged Accruit, LLC, (www.accruit.com),
of Denver to implement and manage a full-service Like-Kind Exchange
Program (LKE). Utilizing Accruit's services, Colorado Machinery will
immediately improve cash flow by deferring income from the sale of
rental fleet assets.
Jeffrey Jensen, Colorado Machinery's Chief Financial Officer said, "Colorado
Machinery is a growth company, and an LKE program is integral to our growth strategy.
When we looked at the range of providers, there was no doubt Accruit was the
best choice. They really understand our industry."
Accruit is the only full service like-kind exchange management provider that
offers an integrated Qualified Intermediary. Craig McSavaney, Accruit's CEO,
explained, "At Accruit, we work hard to tailor our services to each client's
unique requirements. While the Accruit Exchange Manager™ automates the actual
exchange process, our strength lies in the fact that we actively manage all aspects
of a client's LKE program to ensure maximum tax deferral and cash flow benefit."
"We view our LKE program with Accruit as a competitive advantage. It leverages
the considerable investment we have made in our rent-to-rent fleet" adds
Jensen.
McSavaney said "Accruit's services are designed to meet the needs of heavy
equipment rental companies. We are honored to add Colorado Machinery to our growing
list of John Deere and other heavy equipment dealer companies".
About Colorado Machinery, LLC
Colorado Machinery, LLC, with five locations throughout Colorado,
is the leading dealer of construction equipment from John Deere,
Bobcat, and Ingersoll-Rand in the Rocky Mountains.
About Accruit
Accruit, LLC, headquartered in Denver, Colorado, is the only
fully-integrated, web-enabled qualified intermediary providing
full like-kind exchange management services. Accruit is the like-kind
exchange Preferred Provider for the Associated Equipment Distributors
(AED). For more information on Accruit, call 720-963-5001 or visit www.accruit.com. |
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