The Evolving Forklift Market: Electrification, Tariffs, and Remarketing Insights

For those in equipment finance, some may have been wondering, what is it about the forklift that makes this an attractive asset? In today's episode of Equipment Finance Matters, we're going to talk about just that.

Hope you enjoy.

Hello.

Welcome to Equipment Finance Matters.

I'm Kelli Knee-Naber.

If you're a frequent listener, you know about our Equipment Vertical series, where we take a close look at various equipment types that power industries across the country.

If you're new, I encourage you to check out our previous episodes on those vertical industries and the different types of equipment that we've talked about before.

For a little context on today's episode, ELFA produces a monthly momentum monitor, which tracks the investment cycle of seven key verticals.

Currently, the construction vertical is strong, and it makes sense to spotlight forklifts, which are a mainstream piece of equipment used in a variety of industries.

I'm joined today by my co-host, Will Teft.

who is an asset manager at Everbank Commercial Asset Finance.

Plus, he's a trustee on the foundation's board.

Will and I have led these deep dive conversations on variety of equipment over the last few years.

Will, it's great to be together again.

Will you share a little bit about your experience and your role at Everbank and introduce our guest today?

Yeah.

Hey, thank you very much, Kelly, for that introduction.

And it's great to be back with you again today.

We've been on a little bit of a hiatus since our last Equipment Vertical series, and I'm really looking forward to today's.

As you mentioned,

I work at Everbank, where I'm the SVP of Asset Management for the Corporate Asset Finance Group.

I am also a part of the Foundations Board, and I'm a part of the Equipment Leasing and

where

I, with you, lead this podcast series on vertical equipment, and I am very much looking forward to today's session, where we will be joined by Joe Joyce.

Joe is coming to us from Cleveland, Ohio, where he works at Russell Equipment.

Russell is a vertically focused remarketing company specializing in forklifts.

Joe is a graduate of John Carroll's and has worked in the material handling industry since 2013.

He has a deep knowledge of this equipment and I'm looking forward to seeing what we can learn from him today.

He lives in Hudson, Ohio, enjoys playing golf, coaching lacrosse and spending time with his family.

So with that, Kelly, back to you.

Great.

Thanks, Will.

And welcome, Joe.

Appreciate having you with us today.

I know you've been a longtime exhibitor and attendee, supporter of ELFA's Equipment Management Conference, and I'm eager to hear your insights and have you share your expertise on the forklift market.

With that in mind, let's just jump right in.

To get us started, why don't we begin? You can tell us a little bit about your background, your role at Russell, how you got where you are today.

For those in equipment finance, some may have been wondering, what is it about the forklift that makes this an attractive asset? In today's episode of Equipment Finance Matters, we're going to talk about just that.

Hope you enjoy.

Hello.

Welcome to Equipment Finance Matters.

I'm Kelli Knee-Naber.

If you're a frequent listener, you know about our Equipment Vertical series, where we take a close look at various equipment types that power industries across the country.

If you're new, I encourage you to check out our previous episodes on those vertical industries and the different types of equipment that we've talked about before.

For a little context on today's episode, ELFA produces a monthly momentum monitor, which tracks the investment cycle of seven key verticals.

Currently, the construction vertical is strong, and it makes sense to spotlight forklifts, which are a mainstream piece of equipment used in a variety of industries.

I'm joined today by my co-host, Will Teft.

who is an asset manager at Everbank Commercial Asset Finance.

Plus, he's a trustee on the foundation's board.

Will and I have led these deep dive conversations on variety of equipment over the last few years.

Will, it's great to be together again.

Will you share a little bit about your experience and your role at Everbank and introduce our guest today?

Yeah.

Hey, thank you very much, Kelly, for that introduction.

And it's great to be back with you again today.

We've been on a little bit of a hiatus since our last Equipment Vertical series, and I'm really looking forward to today's.

As you mentioned,

I work at Everbank, where I'm the SVP of Asset Management for the Corporate Asset Finance Group.

I am also a part of the Foundations Board, and I'm a part of the Equipment Leasing and

where

I, with you, lead this podcast series on vertical equipment, and I am very much looking forward to today's session, where we will be joined by Joe Joyce.

Joe is coming to us from Cleveland, Ohio, where he works at Russell Equipment.

Russell is a vertically focused remarketing company specializing in forklifts.

Joe is a graduate of John Carroll's and has worked in the material handling industry since 2013.

He has a deep knowledge of this equipment and I'm looking forward to seeing what we can learn from him today.

He lives in Hudson, Ohio, enjoys playing golf, coaching lacrosse and spending time with his family.

So with that, Kelly, back to you.

Great.

Thanks, Will.

And welcome, Joe.

Appreciate having you with us today.

I know you've been a longtime exhibitor and attendee, supporter of ELFA's Equipment Management Conference, and I'm eager to hear your insights and have you share your expertise on the forklift market.

With that in mind, let's just jump right in.

To get us started, why don't we begin? You can tell us a little bit about your background, your role at Russell, how you got where you are today.