December 07, 2017
McNally Capital (“McNally”) and Dobbs Management Service, LLC (“Dobbs Management”) announced Dobbs Management’s acquisition of seven John Deere Construction and Forestry Stores serving the South Florida market. The business will operate as Dobbs Equipment and will keep its business headquarters in Tampa. McNally initiated discussions between Dobbs and John Deere with regards to this transaction as well as assisted as an advisor to Dobbs. Consistent with McNally Capital’s approach as a merchant bank, the firm also co-invested alongside Dobbs and will be an equity partner in the company.
Edward Dobbs, President of Dobbs Management, stated, “We are excited to partner with John Deere as a dealer in the Florida market. Our family has nearly a century of experience in successfully representing top tier manufacturers. We believe that John Deere represents the highest quality products and customer support in the market; we look forward to a strong and successful long-term relationship with Deere & Co., as we are a long-term owner with a time horizon measured in decades. There is tremendous growth potential for the John Deere brand in the Florida market, and we have plans to expand John Deere’s presence in the region through additional investment and resources over the coming years.”
Frank McGrew, Managing Partner of McNally Capital, stated, “Consistent with our approach in providing direct family capital, we are happy to serve as an advisor and partner to Dobbs Management. We are focused on supporting long term growth at private operating companies by providing a family office partnership.”
Edward Dobbs also stated, “McNally Capital introduced us to this unique opportunity with John Deere and worked tirelessly, providing tremendous insight and advice. The carve out nature of this transaction required additional efforts and resources to adequately analyze and to successfully transition the business to become a stand-alone entity post-close. We look forward to having McNally as our partner going forward.”
The purchase, through DJD Equipment Holdings, LLC, included full service stores in Lutz (Tampa), Orlando, West Palm Beach, Miami and Ft. Myers, FL., in addition to parts only stores in Pompano and Riverview, FL.
About Dobbs Management Service, LLC
Dobbs Management Service, LLC is the family investment office led by Edward Dobbs. The Dobbs family has a nearly 100 year history of successful long-term investing. DMS’s investment strategy is flexible but focuses on business-to-business services, distribution and healthcare services. The family currently owns several other companies including Premier Distributing, a beverage distributor representing Anheuser-Busch; heavy duty truck distributors, GWP Holdings, LLC and DPTC Holdings, LLC which represents Peterbilt, Volvo, Mack, Autocar and Crane; Highline Aftermarket Holdings, a national automotive aftermarket distributor; Strategic Behavioral Health, an inpatient behavioral hospital company; and, Potter Electric Signal, LLC, an international fire and security controls manufacturer. Additional information may be found about Dobbs Management Service at http://www.dobbsmanagement.com. Additional information can be found out about Dobbs Equipment, LLC at http://www.dobbsequipment.com.
About McNally Capital
Formed by the McNally family, who owned and operated Rand McNally & Company, McNally Capital is dedicated to upholding a 140+ year legacy as a family-owned and operated company. Today, McNally Capital is focused exclusively on Direct Family Capital through Direct Investing and Merchant Banking services. With an emphasis on partnership, we harness the financial, intellectual, and human capital of our family office ecosystem to build value for family office investors, management teams and operating companies. We maintain a private network of over 800 family offices with whom we collaborate to make and manage direct investments. For more information, please visit: http://www.mcnallycapital.com.
For more information contact:
Dobbs Management Service, LLC
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