the sale of supply items (concrete fasteners, polyethylene
vapor barriers, silt barriers concrete additives, and so
forth), the rental of the larger equipment items sold by the
company, and a service operation and parts department for the
repair and maintenance of both customer owned and rental
LSC's largest service customer is its own rental depart
ment. The company's other customers are primarily contractors.
LSC deals with contractors in all phases of the construction
process from excavation thru roofing. The company promotes
itself as a one stop shopping center for contractors.
LSC is a dealer for equipment produced by Toyota Indus
trial Equipment Co., Torrance California. In Wisconsin, LSC is
2
3
the second largest dealer (in terms of sales) in the type of
equipment offered by the company.
In 1990, LCS is in its 34th year, and operates six stores
(all located in Wisconsin). The company employs 74 persons,
and is currently the market leader in the local service area of
its industry. LSC's marketing department consists of 30 field
representatives who sell equipment and supplies to all types of
contractors throughout the state of Wisconsin.
The company has a tradition of conservative management,
and has always funded growth from earnings. LSC has never
borrowed funds for other than short term inventory needs. The
acquisition of all of buildings and the rental fleet has been
financed through retained earnings. Although the company was
und...