Press releases
Associated Equipment Distributors (AED) Selects Accruit as their Preferred Provider of 1031 Like-Kind Exchange Programs for the Third Consecutive Year
September 5, 2006 – OAK BROOK, IL – Associated Equipment Distributors (AED) has selected Accruit, LLC, as the AED's Preferred Provider of 1031 Like-Kind Exchange Programs (LKE) for the third consecutive year. Established in 1919, AED aids their equipment distribution constituency through networking, industry research, education, political activities and a wide range of profit-enhancing management tools.
Toby Mack, AED President, said, "At the AED, we feel it is our responsibility to bring our membership the very best service providers. In selecting Accruit as our Preferred Provider of Like-Kind Exchange Services three years ago, we were certain of their ability to perform to our high standards. After reviewing Accruit's exceptional performance and client service for our members over the past several years, we are confident that Accruit still offers an exceptional LKE management service".
Accruit is the only full-service 1031 exchange service provider solely dedicated to personal property exchange management. Originally designed for the heavy equipment industry, Accruit now actively manages over $3.6 billion in LKE assets and 120,000 LKE transactions per year for over 80 clients in 45 states.
"Accruit first became an active member of the AED in 2000, and continues to be deeply involved in our association" continued Mack, "and with the discount they offer the AED, our members have saved more than $400,000 in engagement fees over the past three years, while deferring over $250 million in taxes".
"We are honored to be one of only three Preferred Providers chosen by the AED in their 80 year history. With their support, we have grown our equipment dealer client base by over 1500% since our initial selection" Accruit's CEO, Craig McSavaney said. "AED is the single greatest resource for the heavy equipment industry. We are proud to support their mission and initiatives."
About Associated Equipment Distributors
Associated Equipment Distributors (AED), headquartered in Oak Brook, Illinois, is a membership association of 1,200 independent distributors, manufacturers, and other organizations involved in the distribution of equipment and related products and services in North America and throughout the world. AED's distributor member companies account for more than $25 billion in annual sales and rental of equipment and related supplies and services in the United States and Canada. For more information on AED, call 800-388-0650 or visit www.aednet.org.
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 services. 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, visit www.accruit.com or call 877-793-9215.