Abel Womack has purchased the assets and customer base of NECO Systems, a Connecticut-based forklift and materials handling organisation for nearly 27 years.
Tom Franceskino, NECO president and former vice president of operations at Womack Material Handling, approached Abel Womack in mid-2022 to discuss his plans to wind down NECO. Franceskino saw Abel Womack as the best choice to purchase NECO assets and hire some of its employees as Abel Womack has three locations throughout New England and metro NYC, with unparalleled resources and capabilities.
“My positive experience in working with the Abel Womack organisation both as a former employee and as a business ally for nearly 40 years made the decision to have Abel Womack carry on our legacy of superior service an easy one,” Franceskino explains. “When I approached John Croce with our succession plan, he welcomed the offer, and was a pleasure to work with.
“Abel Womack gave us the opportunity to improve on product offerings to our customer base, supporting those customers with the same high-quality service, and provided our team with outstanding career advancement opportunities with the best in the business.”
“We have great respect for Tom and all he and his NECO team have accomplished,” says John Croce, CEO of Abel Womack. “It’s our goal to pick up where NECO left off and, over time, to expand our relationship with former NECO customers via the incredible breadth of materials handling products and services we offer.”
The acquisition allows Abel Womack to add highly sought-after rental and pre-owned inventory to its current fleet, create new relationships with former NECO customers, and add more mobile technicians to provide NECO customers with the unparalleled service they deserve.
“This is our 100th year in business and we can’t be more excited about this transaction and our future,” says Croce.