Associated Equipment Distributors (AED) has announced that PricewaterhouseCoopers LLP (PwC US) and Accruit have been named the preferred providers of like-kind exchange (LKE) services to their membership. PwC and Accruit have both been supporting members of AED for over a decade and currently provide LKE services to 75 AED members.
“AED is excited to be partnering with both Accruit and PWC to provide this important service to our membership,” said Brian McGuire, AED President and CEO.
In a unique joint business relationship that combines PwC’s like-kind exchange (LKE) tax and technology capabilities with Accruit’s qualified intermediary (QI) services, the two companies provide integrated 1031 like-kind exchange program services to more than 170 clients across 20 industries. This joint business relationship enables PwC and Accruit to work together to structure comprehensive LKE programs that provide the clear separation of tax and like-kind exchange services required by the federal tax code.
Said Dave Fowler, leader of PwC's LKE Services practice, “Business leaders understand the notion that trust takes years to build, seconds to break and a lifetime to repair. Our team is extremely honored with the trust the AED has placed in our services and the mutually beneficial relationship we have developed over the last 15 years.”
Accruit CEO Brent Abrahm noted his company’s long-standing partnership with AED. “We're proud to have been a member of the AED since 2002 and excited to be a part of the change that the association brings to the industry. Last year, LKEs stimulated the acquisition of more than $10 billion of equipment in the heavy equipment industry. AED members' businesses are growing as a result, and we'll continue to deliver that value to our current AED clients while educating new members.”