who owns murphy tractor

Murphy Tractor is a leading manufacturer and distributor of heavy equipment in North America. The company boasts of over 30 branch locations, where it sells, rents, and services construction equipment. Since its establishment, this company has grown to become a household name in the heavy equipment industry. However, just like any other company, people often ask, \"who owns Murphy Tractor?\" This article explores the ownership of Murphy Tractor.

The History of Murphy Tractor

Murphy Tractor has a rich history that dates back to the 1950s. The company was initially called the John Deere Construction Machinery dealership. It was later renamed Murphy Tractor and Equipment Company after James Murphy and his son joined the dealership. The Murphys took over the dealership in 1982 and grew it from a small dealership to a major player in the heavy equipment industry. Over the years, Murphy Tractor expanded its branch network and product portfolio. The company also formed strategic partnerships with other heavy equipment manufacturers such as Hitachi, RoadTec, and Wirtgen Group. These partnerships helped the company to increase its sales and market share.

The Ownership of Murphy Tractor

Murphy Tractor is a privately held company, meaning it is not publicly traded. A group of investors and the Murphy family own the company. The Murphy family has a controlling stake in the company, and they run the day-to-day operations.In 2020, Murphy Tractor announced that they had sold a portion of the company's ownership to Sumitomo Corporation. Sumitomo is a Japanese-based company that specializes in real estate and heavy equipment rentals and sales. The sale was strategic in that it allowed Murphy Tractor to access new markets and expand its operations while still retaining control of the company.

The Future of Murphy Tractor

The sale to Sumitomo Corporation has opened up new opportunities for Murphy Tractor. The company is now in a better position to expand its operations, enter new markets and develop new products. The market for construction equipment is continually growing, and Murphy Tractor is well-positioned to take advantage of this growth.The company's leadership has also demonstrated a commitment to customer satisfaction and product quality. Murphy Tractor's focus on customer service is evident in its industry-leading warranty program and its investment in technology to improve customer experiences.

Conclusion

In conclusion, Murphy Tractor is a successful company with a rich history that dates back to the 1950s. The company's leadership has shown a commitment to growth and customer satisfaction. The recent sale of a portion of the company's ownership to Sumitomo Corporation has opened up new opportunities for the company, and the future looks bright for Murphy Tractor. While the company is privately held, the Murphy family still retains control of the company.