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July 19, 2006 – BUTLER, WI – Aring
Equipment Company, the Volvo Construction Equipment dealer for Wisconsin
and the Upper Peninsula of Michigan since 1939, engaged Accruit,
LLC, (www.accruit.com), of Denver to design, implement and administer
an innovative repetitive 1031 Like-Kind Exchange (LKE) program. While
Accruit captured LKE benefit for Aring almost immediately, Aring's
tailored program was fully implemented in under two months.
Jeff Lemanczyk, Aring Equipment's CFO, said, "Accruit's diverse LKE service
portfolio allowed us to tailor a program that perfectly suits our business processes
and goals. Our tax advisors worked directly with Accruit to establish a program
that addressed all of our needs. From cash flow management options to tracking
step-in-the-shoes depreciation; everything complimented our business."
Accruit is the only full-service 1031 Exchange expert solely dedicated to personal
property exchange management. Originally designed for the heavy equipment industry,
Accruit now actively manages over $3.2 billion in LKE assets and processes over
105,000 LKE transactions per year.
Craig McSavaney, Accruit's CEO, said "We are pleased to welcome Aring Equipment
as our seventh Volvo Construction Equipment dealer. A mainstay in the Great Lakes
area for nearly 70 years, Aring Equipment has a proven business to which we hope
to add significant value."
"Having been a member for many years, we were very familiar with Accruit's
selection as the AED's Preferred Provider of Like-Kind Exchange Services" adds
Lemanczyk. "In working through the implementation of our program, we appreciate
why this designation was given to Accruit. They clearly have the most comprehensive
suite of LKE services available."
About Aring Equipment
Aring Equipment is the Volvo construction equipment dealer
for Wisconsin and recently the U.P. of Michigan. Volvo lines
carried include wheel loaders, articulated haulers, motor graders,
wheeled excavators, skid steer loaders, backhoe loaders, and
compact excavators.
In addition to Volvo, Aring is a distributor for Cedarapids
crushers and pavers, Powerscreen and Gilcrest pavers, Lippmann
and Masaba crushing equipment, EIW Aggregate Processing equipment,
CMI Paving and Pavement Production equipment, Krebbs cyclone
pumps for mining equipment, Greystone wash plants and conveyors,
Etnyre chip spreaders and oil distributors, Broce booms, Trail
King trailers, Esco buckets and teeth, and more.
About Accruit
Accruit, LLC, headquartered in Denver, Colorado and founded
in 2000, is the only fully-integrated Qualified Intermediary
to provide full service personal property 1031 Like-Kind Exchange
programs. Accruit is the preferred service provider to numerous
industry associations, including Associated Equipment Distributors
(AED), CPA networks, and equipment manufacturers. Accruit is
also a member of the Federation of Exchange Accommodators; the
country's only association for Qualified Intermediaries and the
LKE industry (www.1031.org). For more information on Accruit,
call 877-793-9215.
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