Foley Companies acquires Neary Technologies

June 1998

Effective July 6th, The Foley Companies completed an agreement with Neary Manufacturing Inc. to acquire the Neary turf maintenance equipment division, related patents, manufacturing, and distribution.

Foley United and Neary have merged to form a conglomerate to service the sharpening needs of all golf courses worldwide. Dick Hentges, Chief Operating Officer of the new conglomerate, feels " Foley's capital resources, excellent engineering support services, and name recognition combined with Neary's innovative new product development, strong customer service, and product loyalty will create an entity that will be a dominate supplier for our industry".

Both Brands, Foley United and Neary, will continue to be manufactured and sold by their respective organizations. The existing distribution will not be effected and each division will be operated as a separate profit center. There are no immediate product changes planned for either of the Foley United or Neary product lines as a result of this merger.