Effective Aug. 1, Modern will no longer operate as a holding company with 21 multiple businesses. It will be an integrated, full-line industrial distributor.
“Modern has grown historically from its representation of such quality lines as Hyster, JLG, Genie, Generac and New Holland and from some 33 acquisitions of related organizations,” says Dave Griffith, CEO. “Therefore, now the time has come to position the company for future growth by bringing even greater efficiency to our operations and leverage our substantial investments in technology. In addition, Modern intends to significantly grow its material handling operations and will be making a number of acquisitions in this area.”
Senior personnel remain in place with new responsibilities. Carl Rathemacher, previously president of Modern Handling, will be a special advisor to the CEO on acquisitions, and Gerry Couch, previously president of Modern Equipment & Sales Co., will be senior vice president of sales.