Austin, TX – Today, a team of seasoned technology entrepreneurs combined with an extensive background in the heavy equipment industry are launching The Heavy Equipment Exchange (THE Exchange), the world’s first online, dealer-only wholesale marketplace for the global trade of both on-and off brand heavy equipment. THE Exchange accelerates transactions by bringing together vetted original equipment and independent dealers in the construction, road building and related heavy equipment industries on a smart, patent pending, secure, cloud-based SaaS platform.
THE Exchange has developed the first online wholesale marketplace. Wholesale pricing is a non-existent term in the heavy equipment industry because there are only three ways to purchase equipment – going through your rolodex and making numerous phone calls, combing through classified ads, or attending auctions. THE Exchange has changed this by creating a wholesale price guidance tool to assist serious buyers and sellers interested in fast transactions and return on invested capital. Wholesale prices are determined on the website by pulling over 600 thousand data points from various auction and industry sales statistics in addition to current actual priced transactions.
THE Exchange founding partners combine expertise and experience from a variety of backgrounds creating a distinct leadership dynamic. Erik Dreyer, who created the patent pending platform and drives the technology behind THE Exchange, is a former software developer for NASA. Successive entrepreneur and President for THE Exchange Gary Forni, is responsible for six previous startups, including four while at Intel. Leading the company as its Chief Executive Office, John Fleming is propelling THE Exchange technology into the heavy equipment market with 18 years of international executive experience at Caterpillar.
Based on its management team, the depth of its staff, and unique business model, THE Exchange has received funding from both U.S. and European investors.
“Today, used heavy equipment is being traded using archaic and inefficient business models resulting in billions of dollars being left on the table by both independent and original equipment dealers,” said John Fleming, CEO of THE Exchange. “We have created a solution that transforms how the heavy equipment market operates. The Heavy Equipment Exchange both maximizes dealer’s revenue, and closes deals more quickly, creating a healthier bottom line.”
THE Exchange facilitates efficiency while reducing costs by aggregating buyers and sellers in a specialized wholesale marketplace. Utilizing its state of the art technology, THE Exchange will enable more transactions faster at normalized market pricing. Connecting decision makers in a dynamic trading environment provides higher dealer margins and lower cost to move surplus, off-brand trade-ins, and reduce lost sales with increased effectiveness of invested capital.
About The Heavy Equipment Exchange
The Heavy Equipment Exchange (THE Exchange) is the world’s first, dealer only, private online wholesale marketplace for the global trade of used heavy construction, earthmoving and related equipment. THE Exchange accelerates cross-brand trade by bringing together original equipment and independent dealers on a smart, patent pending, secure, cloud-based SaaS platform. Global Exchange members connect and work directly with one another to instantly buy or sell inventory in an easy to use secure and trusted environment eliminating middlemen and pricing inefficiencies. By linking decision makers in a real-time transactional environment, THE Exchange facilitates fast transactions at normalized market prices, for higher margins and less cost.