United Equipment Corporation — A Business Banking Member

As a boy growing up, Trace Higgins watched his father run a successful timber and logging company. “I knew eventually I wanted to go down that road, too. That someday, I wanted to own a business of my own,” he says.

For years, Trace had a successful career in engineering, and in the fall of 2019, he began to investigate potential business opportunities. During his search, a mutual advisor connected him with Matt Clarke, President of TowneBank Chesterfield.

“Matt was my first experience with TowneBank,” says Trace. “At the time, I was considering two potential business opportunities. Matt had clearly studied the details. He provided his insight and genuine opinion. While other banks I met with asked me to fill out a bunch of forms, Matt felt like a true partner from the start.”

With support from TowneBank, Trace successfully purchased United Equipment Corporation in the spring of 2020. The company was originally started in 1960 and manufactures aircraft parts to provide replacement pieces for military aircrafts, including fixed-wing planes, jets, and helicopters. United Equipment Corporation services new and older models, including the B52 bomber that has been in flight for over 50 years.

“We helped Trace establish a loan and a line of credit, and have since added checking accounts and treasury services,” says Matt. “United Equipment felt like the right fit for him, especially given his engineering background, and we were happy to be a part of his big decision.”

Looking forward, Trace hopes to expand the facility to incorporate more equipment. “I expect TowneBank to help as we grow our facility, add equipment, and increase our overall production,” he says.

“Trace is a very smart businessman. We enjoy working with him and helping him think everything through,” says Matt. “It’ll be great to see where he takes this and how we can be a part of his continued success.”

“As a business owner today, it is nice to go to a branch or make a phone call and know that your question will be answered,” says Trace. “TowneBank has a vested interest in our community and wants to provide the support it needs as it continues to grow.”

Whether you’ve been in business for years or are just starting, TowneBank is here to help. Contact us today to learn how TowneBank can support your business. Or, call your TowneBank branch to speak with a banker today.