Rudd Equipment, a Kentucky-based Volvo Construction Equipment dealer, has expanded its Midwest footprint by entering Iowa as the exclusive dealer in the state.
In an asset purchase effective Jan. 30, Housby Heavy Equipment transferred its Volvo Construction Equipment (Volvo CE) inventory at three Iowa dealership locations to Rudd, according to a Feb. 2 Volvo CE release.
Rudd, a subsidiary of Ferronordic, has been in business for 74 years and its construction equipment headquarters is in Louisville, Ky. Ferronodric estimates the transaction to have a final paid price of about $17 million.
The deal increases the dealer’s network to 16 locations across eight states, according to the release. The newly acquired locations cover most of Iowa and one county in Illinois, where Rudd will offer Volvo CE equipment, parts and service.
The expansion strengthens Volvo CE’s dealer coverage in the Midwest, according to the release and does not affect Housby’s Mack Trucks operations or its other business lines.
Ferronordic said the acquisition is the first step in expanding its U.S. construction equipment business. The company provides construction equipment and truck sales and service through branches in the United States, Germany and Kazakhstan, according to the release.
Employees from Housby’s equipment dealership will join Rudd and Ferronordic as part of the transaction.
The Iowa move represents one of the most significant territory changes in the region’s heavy equipment landscape in recent years. By absorbing established dealership locations rather than building new greenfield sites, Rudd gains immediate access to an existing customer base of contractors, municipalities and rental fleets. Industry analysts note that Iowa has seen steady demand for earthmoving and road-building machinery, driven by infrastructure spending and agricultural development—two sectors where Volvo CE maintains a strong presence.
Beyond the immediate inventory transfer, the acquisition is expected to bring expanded service capacity and parts availability to Iowa customers who previously relied on Housby. Rudd has signaled plans to integrate its digital service platforms, technician training programs and rental offerings across the new territory. The company’s parent, Ferronordic, has been gradually increasing its North American exposure after years of focusing on European and Central Asian markets.
For equipment owners, the transition is designed to be seamless. Existing warranties, maintenance schedules and service agreements will continue under Rudd’s management, while employees from Housby’s equipment division will remain in place. The combined workforce is expected to benefit from Ferronordic’s global procurement network and Volvo CE’s expanding line of electric and low-emission machines—categories gaining traction among Midwest contractors facing stricter project sustainability requirements.
With 16 locations now operating across eight states, Rudd becomes one of the larger Volvo CE dealer groups in the central United States. The company has indicated that additional acquisitions could follow as part of Ferronordic’s broader strategy to build a national platform. For Volvo CE, the agreement consolidates representation under a single, long-tenured partner with deeper capital resources and a dedicated focus on construction equipment.
Originally reported by Equipment Finance News.
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