Cypress, CA – April 25, 2024 – Multiquip, Inc., a leading manufacturer and supplier of construction and industrial equipment, is pleased to announce the appointment of Tim Ardell as its new Chief Executive Officer. He succeeds Bob Graydon, the CEO since 2017, who is transitioning to the role of Executive Chairman.

Mr. Graydon, who joined Multiquip in 1998, was instrumental in driving the company's record sales growth and operational streamlining. The company’s performance earned him recognition from its parent, Itochu International Inc., as a three-time recipient of its Excellent CEO award. Reflecting on his tenure, Mr. Graydon expressed pride in the company's achievements and confidence in its future, stating, "It has been an incredible journey for me, leading this remarkable organization. Together, we have achieved significant milestones and enjoyed tremendous success. I am immensely proud of what we have accomplished as a team. As Executive Chairman, I remain committed to supporting the entire leadership team through this transition. I am very excited about the opportunities that lie ahead for Multiquip, and I am confident that under Tim's leadership, we will reach new heights of success."

Mr. Ardell's career with Multiquip is highlighted by steady progression through the organization and executive management team. Starting as a District Manager for the MQ Power division in 2004, he has consistently demonstrated his leadership abilities, ultimately rising to the position of Sr. Vice President of Sales before being named Chief Operating Officer in 2022. His deep understanding of the company's operations, coupled with his strategic vision and commitment to excellence, positions him as the ideal candidate to lead Multiquip into its next phase of growth and innovation.

As CEO, Mr. Ardell will leverage his extensive experience to drive strategic initiatives, foster innovation, and enhance customer relationships, ensuring Multiquip remains at the forefront of the construction equipment industry.

Speaking about his appointment, Mr. Ardell said, "I am honored to assume the role of Chief Executive Officer at Multiquip, a company that I have been proud to be a part of for nearly two decades, and grateful for the trust placed in me by the board, Bob Graydon, Itochu International, and the Multiquip team. Building on our strong foundation, we remain committed to not only providing the highest quality products, but also the solutions needed to help drive the success of our customers and end-users. I am excited to lead the greatest team in the industry and look forward to a very bright future.”

Multiquip expresses its gratitude to Mr. Graydon for his outstanding leadership as CEO and looks forward to his continued contributions in his new role as Executive Chairman. The company is confident that under Mr. Ardell's leadership, Multiquip will achieve even greater success in the years to come.

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For any inquiries, please contact:

Jon Williamson
Director, Marketing
jwilliamson@multiquip.com
(310) 400-1452 

About Multiquip, Inc.

Established in 1973, Multiquip Inc. has built a reputation for providing excellent products and services to equipment professionals. Their products are used for applications varying from general construction, industrial projects, and energy exploration to special events. The company has several brands, including Mikasa, MQ Power, MQ Essick, MQ Mayco, and MQ Whiteman, which equipment owners trust for their performance and reliability. Multiquip is committed to using innovation and a personal touch to continually enhance customer experience and satisfaction.