Forestry Equipment of Virginia (FEVA) joins Custom Truck & Equipment and Utility Fleet Sales to form Utility One Source. The three family operated businesses are now part of one platform, which is aligned, owned and managed by Blackstone, an investment firm.
Utility One Source will be led by Chairman Christian Ragot. Blackstone’s resources and expertise will build on each company’s market position while allowing the new entity to serve as a single source supplier for customers with a focus on sales, rental equipment, parts, transportation and service.
According to FEVA owners Terry Dobyns and Mark Sharman, they wanted, “an investment firm that would strive to maintain the ‘FEVA Family’ environment for employees and customers alike.”