J.Friedrich Storz GmbH & Co.KG is in its third generation of family ownership in the state of Baden-Wuerttemberg, located in southwest Germany. What started as a small road-roller company 90 years ago, is now a well-established construction and civil engineering company built on quality and solid workmanship.
Over the past several decades, J.Friedrich Storz has made significant improvements to the infrastructure of Baden-Wuerttemberg, thanks in large part to their relationship with Caterpillar and Cat Financial.
“It’s not just the financing on its own, be it the lease or lease-purchase,” says Georg Graf Kesselstatt, Geschaftsfuhrer, CEO of J.Friedrich Storz. “It is the knowledge of the industry, which is of particular importance for us, and this is what makes this relationship so straightforward. Caterpillar just knows what we need and the way our minds work – this makes our partnership a very pleasant one.”
To meet the demands on their growing business, the J.Friedrich Storz purchased their first piece of Cat® equipment in 1955.
“We have suppliers and we have strategic partners,” says Kesselstatt. “Caterpillar definitely belongs to the latter group – strategic partners.”
After running Cat equipment for several decades, J.Friedrich Storz began building a relationship with Cat Financial in 1998, with the purchase of a large excavator for a stone-crushing plant in Baden-Wuerttemberg. According to Kesselstatt, the excavator was their largest equipment purchase to date, so they were interested in a full-service leasing arrangement, which Cat Financial was willing to customize just for J.Friedrich Storz.
“In all of Germany, there was nobody who had any experience with the large equipment, and we were looking for a full-service leasing arrangement straight away,” Kesselstatt says. “This type of option did not exist though, so together with Cat Financial, we kind of invented one, as it were. This was our first financing and I am sure we have concluded at least 100 financing contracts with Cat Financial since then.”