Rachel Hockenberger, Parman Holdings Corporation president and CEO, welcomes Jack Wilder, president and third-generation owner of Wilder Equipment, to the Parman family.
Parman, an employee-owned company since 2015, has acquired Wilder Equipment to add to the diverse collection of Parman companies.
The Parman name, which has been synonymous with premium petroleum products and reliable service in middle Tennessee since the mid-1930s, was established by Bates Parman with the opening of Parman Oil. In 1978, Parman was acquired by Don Crichton, Johnny Jewell and Jimmy Jewell. The company continued growing throughout the 1980s, which led to a relocation from downtown Nashville, Tenn., to a modern facility in west Nashville.
Parman continued expanding, and in the 1990s acquired a lubrication equipment business, Parman Equipment Services.
As Parman grew and the fuel business line flourished, the company name was changed to follow suit — Parman Energy. Parman Energy provides fuel, lubricants, DEF and dispensing equipment to commercial construction companies as well as "mom and pop" shops. Over the 85 years in business, Parman has grown through acquisition and hard work. The company now has physical locations in Tennessee, Mississippi, Arkansas and Minnesota.
In 2015, the owners were eager for a succession plan but wanted to maintain the level of service and care that had been built over decades. The solution was simple — the company was sold to its employees. As an employee-owned company (ESOP), the people continued to be most important asset, which also has greatly benefited its customers.
The new owners of the Parman companies had a clear understanding of the need for the customer's businesses to be a success. The companies, held by Parman Holdings Corporation, experienced an intentional culture shift: the culture of Parman focuses on providing "Totally Outrageous Customer Service," or "TOCS."
In 2018, Parman expanded the brand with an acquisition into the heavy construction and agricultural equipment in middle Tennessee. Parman Tractor & Equipment, a dealer for Link-Belt, Takeuchi, Hitachi and Sakai, provides sales, service, parts and rental for most construction and agricultural needs. Bringing this new business type into the collection of Parman companies added to the desire to see its customers win as well as a spirit of partnership with suppliers, the company said.
After three successful years post acquisition of Parman Tractor & Equipment and surviving the pandemic, it was time to take a step in a new direction. On March 3, 2022, Parman Holdings Corporation acquired Wilder Equipment to add to the diverse collection of Parman companies.
"This opportunity came to us via a mutual connection," Rachel Hockenberger, Parman Holdings Corporation president and CEO. "From the moment the details were introduced, the Parman executive committee knew the Wilder business would be a great complement to our brand,"
The Wilder business has been in existence since 1937, servicing the Nashville area for construction site dewatering, utility rerouting and land clearing equipment. Jack Wilder, president, is a third-generation owner and responsible for growing the business into the sought-after brand it became. The Wilder operations includes sales, service, parts and rental inventory for brands such as Morbark, Rayco, Gorman Rupp and Boxer.
"As the acquisition discussions developed, Parman's team would visit job sites with Jack," Hockenberger said. "What we saw was our Parman Energy fuel tanks and our Parman Tractor & Equipment machines, and then Wilder's pumps. This was confirmation for the executive team that this was a match. To further that confirmation, the staff to be transitioned were outstanding. Knowing that our people are the most important component of our business, gaining the talent and personalities sealed the deal."
As of March 4, 2022, the Wilder staff is a part of an employee ownership platform and team members of the Parman family. The operations have been relocated to 3570 Dickerson Pike as a division of Parman Tractor & Equipment. Charley Crichton, Parman veteran, continues serving as president of Parman Tractor and Equipment with support of Colin Hockenberger as general manager. The officially coined "Parman Pump Division" will be managed by Jeremy Hutchison, who has worked for the Parman Companies for 14 years in technical energy sales with an array of certifications.
"With the leaders at Parman Tractor & Equipment, the skilled staff and top-notch product offerings, we look forward to providing outrageous service," the company said. "As an employee-owned company, we aspire to create opportunities. With the acquisition of Wilder Equipment, we are growing our brand, service offerings and the opportunity to create value for the employee-owners of the Parman Companies." CEG
Today's top stories
