|
August 1, 2006 – DENVER, CO – Power
Motive Corporation, the Komatsu construction and mining equipment
dealer for Colorado, engaged Accruit, LLC, (www.accruit.com), of
Denver to design, implement and administer an innovative repetitive
1031 Like-Kind Exchange (LKE) program. Power Motive's capitalized
rental fleet assets already receive tax deferral benefits from their
tailored program.
John Paranto, Power Motive's CFO, said, "Accruit is deeply engaged in the
heavy equipment industry, and understands the challenges we face. Their reputation
in the Komatsu network proves their understanding of our business. Working through
the details with our tax advisors, Accruit has created a very valuable program
for us without adding significant administrative burden."
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 Power Motive
as our fourth Komatsu equipment dealer. With their significant investments in
client service, Power Motiveâs strong reputation in Colorado is well deserved.
We are thrilled to be working with another local business leader."
"Our business continues to become more and more competitive - especially
in the strong market we are experiencing." adds Bill Blount, Power Motive's
CEO. "In working with Accruit, we are confident that LKEs will provide
us the extra cash flow to continue to be a leader in our market."
About Power Motive Corporation
Serving the Colorado heavy equipment market since its founding
in 1959, PMC is one of the oldest Komatsu dealers in the US,
having carried the line for over 32 years. With four locations
across the state and a unique drop box program called PMC Parts
Express, Power Motive's clients enjoy singular service and support
for their Komatsu, CMI /Terex, Gradall, Trail King, KPI/JCI,
and Hensley equipment. Additionally, as a Komatsu Premier Partner,
PMC clients are guaranteed to be working with the best in the
business. Visit Power Motive online at www.powermotivecorp.com
or by phone at 303.355.5900.
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. |
|
|
