Industry Roundup: Caterpillar Names Longtime Executive as New CFO
Plus: Volvo CE selects dealer of the year; Cat and Hyundai dealerships expand; and Trimble acquires startup Document Crunch.
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Three months after Caterpillar announced the formal retirement of its CEO, James Umpleby III, the company has selected a new chief financial officer.
Thirty-year Caterpillar executive Kyle Epley will become CFO on May 1, replacing retiring CFO Andrew Bonfield, who will take an advisory role leading up to his formal retirement on October 1. Bonfield spent nearly eight years as Catepillar’s CFO.
Epley currently serves as senior vice president of Global Finance Services, leading the team that manages Caterpillar’s finance operations, strategy, planning, treasury, pricing, real estate and facilities. His previous positions at Caterpillar include division CFO and corporate controller.
Volvo CE Names 2025 Dealer of the Year
Colorado-based Power Equipment Company is Volvo CE’s 2025 Dealer of the Year, after the dealership demonstrated consistent high performance in service, customer uptime and share performance.
Volvo CE
Volvo CE specifically highlighted Power Equipment Company’s recent investment in a new 52,000-square-foot headquarters, featuring 17 service bays and a training facility, in Brighton, Colorado. Power Equipment Company also recent launched a centralized field service dispatch center.
According to Volvo CE, these investments helped Power Equipment achieve machine sales and rental fleet growth.
Foley Equipment to Open New Missouri Location
Kansas and Missouri Caterpillar dealer Foley Equipment has announced plans to add a new facility at Lake of the Ozarks in Missouri that will offer rental and sales for the construction industry.
The expansion includes Foley Equipment's acquisition of a local rental company, LOZ Rentals, on Highway 54 between Osage Beach and Camdenton.
Hyundai Construction Names New Michigan Dealer
Northern Michigan Tractor, a TYM Tractor dealer in Johannesburg, Michigan, has been named the latest addition to HD Construction Equipment Hyundai North America’s dealer network.
Hyundai
Northern Michigan Tractor will cover the northern portion of Michigan’s Lower Peninsula and sell and service Hyundai’s line of compact construction equipment.
Trimble Acquires AI Document Analysis Startup
Telematics and software provider Trimble will soon acquire Document Crunch, a startup specializing in AI construction document analysis and risk management.
Trimble will absorb the startup’s document intelligence and compliance automation offerings into its Trimble Construction ecosystem.
Document Crunch’s software aims to address pain points like critical risk provisions, payment disputes, specification noncompliance and notification failures.
