Nixon-Egli Equipment implements Accruit's like-kind exchange program
18 April 2008
Link-Belt Cranes dealer Nixon-Egli Equipment Co., based in Ontario, CA, has engaged Denver-based Accruit, LLC to design, implement, and service a repetitive Like-Kind Exchange (LKE) program. This process will allow Nixon-Egli to improve cash flow by deferring taxes on the sale of the company's rental and leased equipment.
“We expect to keep growing at a fast pace over the coming years, and a Like-Kind Exchange program gives us the additional cash flow we need to make that happen,” said Steve Nixon, president of Nixon-Egli. “Accruit's tailored program offers us a fully-integrated service without impacting our core business process or headcount.”
Accruit's CEO Craig McSavaney said that given the volume and high residual value of the equipment sold by Nixon-Egli, the LKE program is well suited for them. “Improving cash flow through LKEs is rapidly becoming mainstream for equipment dealers,” he said.
Accruit was established specifically for the heavy equipment industry and now actively manages over $2 billion in assets through its repetitive LKE services. Accruit is the Like-Kind Exchange Preferred Provider for the Associated Equipment Distributors (AED).