Heavy vehicle dealer Ferronordic, through its subsidiary Rudd, has finalized the acquisition of Housby Heavy Equipment, a dealer of Volvo Construction Equipment covering most of Iowa.
The transaction was carried out as an asset acquisition for a purchase price of 18 million dollars, with the majority allocated to machinery and spare parts. The acquisition was completed on January 30, 2026. Ferronordic estimates that the profitability of the business over time will be in line with Rudd's other operations.
Ferronordic AB is a Sweden-based company engaged in sales and distribution of construction equipment. It operates as an authorized dealer of Volvo Construction Equipment, Renault trucks and Volvo CE. Additionally, it distributes Volvo and Renault Trucks, Volvo Penta, among others. Through its business segment, Equipment Distribution, the Company offers sale and rental of new and used machines and other equipment, contracting services, as well as aftermarket support (sales of parts and service). The Company distributes excavators, backhoe loaders, dump trucks, pipelayers, forestry machines, bulldozers and gensets. The Company provides its services to other companies in the Quarries and aggregates, mining, road construction, transport and logistic and general construction industries
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