Volvo CE Dealer Implements Accruit's 1031 Exchange Program

BUTLER, WI — Aring Equipment Company, the Volvo Construction Equipment dealer for Wisconsin and the Upper Peninsula of Michigan since 1939, engaged Accruit, LLC, of Denver to design, implement and administer an innovative repetitive 1031 Like-Kind Exchange (LKE) program. While Accruit captured LKE benefit for Aring almost immediately, Aring's tailored program was fully implemented in under two months.

Jeff Lemanczyk, Aring Equipment's CFO, said, "Accruit's diverse LKE service portfolio allowed us to tailor a program that perfectly suits our business processes and goals. Our tax advisors worked directly with Accruit to establish a program that addressed all of our needs. From cash flow management options to tracking step-in-the-shoes depreciation; everything complimented our business."

Accruit is the only full-service 1031 Exchange expert solely dedicated to personal property exchange management. Originally designed for the heavy equipment industry, Accruit now actively manages over $3.2 billion in LKE assets and processes over 105,000 LKE transactions per year.

Craig McSavaney, Accruit's CEO, said “We are pleased to welcome Aring Equipment as our seventh Volvo Construction Equipment dealer.  A mainstay in the Great Lakes area for nearly 70 years, Aring Equipment has a proven business to which we hope to add significant value.”

"Having been a member for many years, we were very familiar with Accruit's selection as the AED's Preferred Provider of Like-Kind Exchange Services" adds Lemanczyk. "In working through the implementation of our program, we appreciate why this designation was given to Accruit. They clearly have the most comprehensive suite of LKE services available.”

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