Ring Power Corp., the St. Augustine, Fla.-based Caterpillar dealership that is one of the industry’s largest, announced it is celebrating the 50th anniversary of its founding in 1962. Then Caterpillar engine dealer Gibbs Corp. sold the dealership rights to L.C. Ringhaver, owner of the world’s largest shrimp boat manufacturer Diesel Engine Sales, in 1961. Ringhaver founded Ring Power Corp. to sell and service Cat marine engines to Northeast Florida’s shrimp trawler industry.
In 1962, Cat dealer Lobrano Machinery Co.’s president and owner Tom Lobrano died, and Ring Power Corp. was awarded the dealer territory in Jacksonville, Ocala and Tallahassee, Fla.
L.C. Ringhaver’s son Lance took over as president and chairman when L.C. died in 1976. Lance Ringhaver acquired the Central Florida Caterpillar dealership, Rozier Machinery, in 1986. Lance moved to Tampa, Fla., to start Ringhaver Equipment Co., while Randy Ringhaver took over leadership of Ring Power Corp. in Jacksonville. Both companies did well, adding expanded power systems, rental equipment services, forklifts, cranes, air compressors, utility equipment and more. In 2004, Ringhaver Equipment Co. and Ring Power Corp. merged into a consolidated company with Randy as chairman and president. The combined Cat dealership territory now consists of 44 counties in north and central Florida.
Based in St. Augustine, Fla., and now comprised of eight divisions, Ring Power Corp. is now a major player in rental, ranked No. 19 on the RER 100.
