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On board with Randy Ringhaver, serial yacht owner and president of Ring Power Corporation

Fishing and boating have been lifelong passions for superyacht owner Randy Ringhaver, the president of Ring Power Corporation. He tells Cécile Gauert how he got hooked

Fishing has been a big part of Randal “Randy” L Ringhaver’s life seemingly forever. It all started while he was growing up around his father’s shipyard in St Augustine in northern Florida.

By that shipyard had become the world’s largest builder of shrimp trawlers, powered by Caterpillar engines, with the slogan, “The sun never sets on a DESCO trawler.” Actually it would – eventually – but by then, Randy’s father, LC “Ring” Ringhaver, had parlayed his relationship with Caterpillar into a new business venture and established the first iteration of the Ring Power Corporation.

Ring always had a job for young Randy to do. Today Randy is the chairman and president of the family-owned Ring Power Corporation – a multifaceted company and one of the southeast’s largest Caterpillar dealers. But the first paying job he ever got was sorting nails at DESCO when he was eight years old. “I worked just about every aspect of the boatyard until my mother found out I was using saws, and that was the end of that,” he says.

Randy is a keen angler and his collection of yacht's is tailored to this passion

In his free time, he did what many boys his age growing up in the waterlogged state of Florida do: he tried fishing. “My dad gave me a hard time because I spent my whole week’s salary on a rod and reel.”

LC Ringhaver knew all about building boats efficiently but had no inclination to go boating or fishing. “These were different times,” says Randy, who inherited his father’s charm, business acumen and knack for entertaining but, unlike his dad, caught the boating and fishing bug early. “As a young kid, I’d modified a little metre wooden boat with a hp Johnson on it. I spent every weekend riding up and down the Intracoastal Waterway, fishing for trout and bluefish and Spanish mackerel, but never ventured out of the inlet. I called it The Wanderer. I think it got me into trolling,” he says.

Many years on, he still remembers the day fishing became more than a child’s pastime. “I was about 12 years old and I got invited to go offshore fishing by Mr Kinsey, a St Augustine businessman who had an oil supply business there and I knew his two sons pretty well. He had a little old sportfisher, a single-engine job. We went out of St Augustine, hardly out of sight of shore, and his son caught a sailfish that day. On our way back in another sailfish came up. I couldn’t talk, I was so excited. We ended up going back there, dropping the bait back to him, hooking up and giving me the pole. And after that, I was kind of hooked.”

Ringhaver's Merritt 86 is ideal for his fishing pursuits. Image courtesy of Debra Todd Photography.

It took a few more years for Randy to get into serious saltwater. After earning a business degree to round off his hands-on experience at Ring Power, where his older brother Lance also worked, he met an angler who became a friend – and his mate of 20 years. Fishing was ancillary to his work life but he always managed to combine the two. From a young age, he was instrumental to the growth and diversification of the family business, but continued to fish anytime he could for pretty much whatever would bite. The tools gradually got bigger.

From a metre Bertram he went to a metre Bertram, which he had when he met Paula, his wife of 41 years, on a blind date. As luck would have it for a man so fond of fishing, Paula, who’d never been on boats before this, really took to it, learning to cope with rough waters and diving right in. “Back then, nobody fished with lures, so we had to catch our own bait. My wife got involved in it. We all learned how to sew up mullet and mackerel and squid, and rig ballyhoos, and make up the wire leaders. It was a project. When we couldn’t fish, we had plenty to do tackle-wise, and when the weather was right, we’d go catch our own bait.”

On our way back in another sailfish came up. I couldn’t talk, I was so excited.

One of the boats they owned was so special to them that they kept it for 20 years. It was a metre sportfisherman custom built in Randy’s and Paula’s backyard, at the Huckins yard in Jacksonville. “We had a lot of interest in putting my personal design into the boat we wanted to build, so we chose to build it up here,” he says. “Prior to that, we hadn’t really fished but a few little tournaments. But that boat’s fishability and speed and everything gave us a competitive edge. We started being in a lot more tournaments.” They took the Huckins to Venezuela, to this day one of his favourite fishing spots. “That was the best all-around fishing for the variety and the number of bites.”

They named all their sportfishing boats after their daughter, Bree, whose 21st birthday party was planned on the Huckins. After many years of adventures, the Ringhavers decided it was time to let go. The next boat was a metre Merritt, followed by two custom 72s.

The current Bree is an metre Merritt with enclosed bridge and, of course, a pair of Cat engines. The close business relationship with Caterpillar is what got Randy and Paula into their largest sportfishing boat. A few years back Caterpillar was developing new engines, and Randy thought a sportfisher winning tournaments would be a great way to showcase the power within. Caterpillar ended up scrapping the launch, but the boat project was so advanced, Randy decided to go ahead anyway, powering the new Bree with twin 1,hp Caterpillar C32 Acerts.

Bree is the product of Ringhaver's close ties with Caterpillar. Image courtesy of Debra Todd Photography.

“Everybody said we were underpowering our boat. But it turns out she runs a 30 knot cruise, and can cruise up to 32 with a little bit of push. That’s all we needed, and we got a lot more fuel economy and a super range on [these engines]. They can go from Bermuda to St Thomas without having to use a bladder, so a lot of good things came out of smaller engines, conservation of fuel and cleaner burns. We’re happy about all that.”

Bree won a daily award at the Sea Horse Anglers Club Billfish Tournament in July, part of the Triple Crown Billfish Championship, which the Bree team has done for years. “Somebody asked my captain one time, what kind of fishing we liked to do. He said, ‘whatever’s biting,’ which is kind of true… I just really like it all, although most of the stuff we do is geared toward billfish, blue marlin, white marlin and sailfish.”

Aside from their personal fondness for fishing, the Ringhavers continue the tradition that the late LC Ringhaver started when he was running the company – to put on a good show for the customers. And the boats and fishing have proven a good way to do that. “I get a big kick out of bringing people out who have never caught a billfish, to watch them catch one and get it on video. I enjoy watching them do it as much as I enjoy doing it myself,” he says.

Ringhaver's father owned DESCO, a shipyard building shrimp trawlers.

There is excitement in billfishing but it does require a lot of patience, especially when it comes to one elusive species. “I think marlin fishing is a whole different deal than most of the other fishing. You can get in some pretty long fights. I have fought them for as long as five and a half hours. When you get in a chair with an 80lb class rod and reel for five and a half hours, sitting at 30lb of drag, you’re going to feel it.” It’s an experience that only comes once in a while. “Fishing for marlin is a lot like deer hunting,” he adds. “It’s a lot of time over target. Sometimes you don’t get a bite.”

Over 25 days in Bermuda last July, the Bree team caught three blue marlin and two white marlin. “That’s pretty slow action, so I tell people, ‘if you want to go marlin fishing, you’ve got to have a lot of patience and you have to be ready, and you have to be physically in shape for it.’”

Randy obviously likes the thrill of a duel with a feisty fish but decries the way many tournaments have gone: busy, complex and expensive, from the entry fee to the lures used. The payoffs can be very high, but so are the stakes. “You feel like you’ve put a lot of pressure on your crew and mates. You’re invested in this deal now. We just do a limited amount of them, primarily just to keep everybody on their toes. If you win, that’s great. There are people who try to make a living out of it. We’re not on that plane. We’re a little more laid-back. If somebody loses a fish, they lose the fish… I still believe in keeping it fun.”

I tell people, ‘if you want to go marlin fishing, you’ve got to have a lot of patience and you have to be ready, and you have to be physically in shape for it.’

With so many years of fishing and tournaments under their belt, Randy and Paula have developed a hankering for some new experiences. “Trying to fish some different places has also become a goal of ours,” he says. They bought a ft Newcastle last year, a part-built project that the original owner had listed for sale. They named it Carson after their granddaughter, who was born on the day they signed the contract. They are putting the final touches to her after taking her to the Bahamas, Bermuda, twice to the Virgin Islands and home to St Augustine.

The mothership has opened new avenues for these doting grandparents, who have framed pictures of the family as favourite ornaments on board. They talked about going to Cuba last year, where the Ring Power Corporation’s entertainment services division supported the Rolling Stones on tour in Havana. But the trip was put on hold when Carson’s captain reported that the infrastructure was not quite ready. They’ll wait a bit and in the meantime they’re making plans to go to the Mediterranean in

“We want to try some new water, and the fact that you’re fishing someplace and 15 other boats [aren’t] there at the same time is interesting,” he says. “Then, we like cruising too. Even on a sport fisherman, we like just going and checking out some spots. I sometimes take a break from [fishing] and jump in the water and throw a tank on and see what’s down there.”

Although at times it sounds like it, Randy Ringhaver is not ready to hang up the poles yet, on the boat or at Ring Power, but he does mention writing a book. “There are so many stories to tell.”

Sours: https://www.boatinternational.com/luxury-yacht-life/owners-experiences/on-board-with-randy-ringhaver-president-of-ring-power-corporation

Businessman Lance Ringhaver dies in crash

eeLance Ringhaver business Ring Power CAT_jpgarticle

TAMPA (FOX 13) - A long-time Bay Area business man died in a crash on U.S. 41 Monday evening. 

Florida Highway Patrol said Lance C. Ringhaver hit a tractor trailer that had blocked U.S. 41 after failing to make a full left turn from Towaway Avenue. The driver of the semi, year-old Isbel Perez Guzman, was ticketed for failure to yield right-of-way.

Ringhaver, a resident of Apollo Beach, was

Lance Ringhaver was well known in the Bay Area for his role in brining Major League Baseball to the Tampa Bay. He was a minority owner of the Tampa Bay Rays.

Rays' principal owner, Stuart Sternberg issued a statement saying, "The Rays join the entire Tampa Bay community in mourning the passing of Lance Ringhaver. He was a founding member of the Rays ownership group and a key figure in helping secure the franchise. Beyond his love for the Rays, Lance's influence as one of Florida's  premier businessmen and philanthropists helped shape much of Tampa Bay's development over the past four decades."

He was more broadly known for his role in Ring Power Corporation, a business he and his younger brother, Randy took over from their father, according to RingPower.com.  

Lance Ringhaver was appointed president of the company in at the age of 36, after his father's health began to decline. After Caterpillar chose to make Ring Power its Central Florida Dealer, the company grew, opening a corporate headquarters in St. Augustine in

Ringhaver retired in December , but continued to serve as chairman emeritus.

Lance Ringhaver also chaired the Port Authority board, but was asked to resign after suffering a stroke.

Port Tampa Bay issued a statement Tuesday, saying, "Port Tampa Bay was saddened to hear about the tragic accident and passing of Lance Ringhaver last night. Mr. Ringhaver was a true public servant and ardent supporter of the port, as well as the entire Tampa Bay community. Our thoughts and prayers go out to his family and loved ones at this difficult time."

Sours: https://www.fox13news.com/news/businessman-lance-ringhaver-dies-in-crash
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Ring Power

Ring Power logo.svg
TypePrivate
IndustryHeavy equipment
Founded
HeadquartersSt. Augustine, Florida[1], USA

Key people

Randal L. Ringhaver, Chairman & President
Ron Roy, CFO
ProductsSale/Lease/Rent of New & Used Equipment, Parts, Service, Training
Revenue$ Billion ()

Number of employees

2, () 1, ()[1]
Websiteringpower.com

Ring Power is a privately held heavy equipment corporation headquartered at the World Commerce Center in St. Johns County, Florida, midway between St. Augustine and Jacksonville.

History[edit]

The company was founded in by L.C. "Ring" Ringhaver, who gave up shrimp boat building to become a Caterpillar engine dealer in St. Augustine, Florida. The following year, they became a full line dealer and relocated to Jacksonville. In the company moved to a acre (,&#;m2) site on U.S. Route 1 (locally known as Philips Highway) and Baymeadows Road on the southside.[2] As the business grew over the next 25 years, the product lines expanded and more divisions were added. The property in Jacksonville eventually became a complex of seven buildings with ,&#;ft² of space.[3] At the end of the century, they ran out of room to expand, and the character of Philips Highway had changed from industrial to commercial. The decision was made to find a new home with at least acres (&#;km2). The result of the search was the purchase of acres (&#;km2) at World Commerce Center along Interstate 95 in St. Johns County. A $ million incentive package was approved by the St. Johns County Commission and Elkins Constructors began work in the Fall of on a ,&#;ft² facility. Most of their old property along Philips Highway was sold for redevelopment and Ring Power moved to their new headquarters in March, Lowe's purchased 16 acres (65,&#;m2) and built a home improvement store; BJ's Wholesale Club was constructed on an acre (73,&#;m2) parcel; a small retail strip center with half a dozen businesses was positioned closest to the intersection of Philips and Baymeadows. Ring Power retained the 4 acres (16,&#;m2) at the north end of the property for a Ring Power Forklift Operations center.[4]

Corporate Headquarters beside Interstate 95

Locations[edit]

The port facilities in Jacksonville and Miami allow the company to export equipment almost anywhere in the world. Ring Power has over employees at branches in 19 cities throughout Florida and offices in California, Georgia, New Jersey, North Carolina, Rhode Island, South Carolina and Texas. Customers can purchase, lease or rent new & used Caterpillar industrial equipment. Ring Power also handles machines made by Kalmar, Linde, Clark, Trail King, Manitowoc, Grove, Gradall, National Crane, Rosco, Gomaco, Phoenix Products and others.

Over employees were assigned to the Ring Power office in Riverview, Florida (near Tampa) in The operation had outgrown the spartan building constructed in the mids and needed more space. Instead of razing the structure and building new, they spent nearly $50 million to renovate and created larger offices and common areas, more windows with pleasant views of the landscape, and eliminated scores of the filing cabinets by going paperless.[5]

Divisions[edit]

  • Heavy Equipment Division
  • Power Systems Division
  • Lift Truck Division
  • Compressed Air Division
  • Ports Division
  • New Parts Division
  • Used Parts Division
  • Service Division
  • Government Division
  • Tactical Solutions Division
  • Agricultural Division
  • Cat Rental Store
  • Marine Service Center
  • Export Sales Division
  • Truck Centers

  • Ring Power Crane - New and used cranes for large projects from six manufacturers.
  • Entertainment Services - Ring Power can assist with special events such as movie and video filming, corporate events & concerts or parties & shows with an inventory of power equipment including generators, UPS and power distribution; HVAC & lighting; ramps & matting.
  • Phoenix Products - manufactures fuel storage tanks, generator enclosures and fuel storage systems, and offers petroleum-recycling services.

Industries[edit]

Ring Power supplies equipment used in heavy construction, roadbuilding, logging, agriculture, recycling, waste management and landfill maintenance, governmental, marine power, truck engine power, prime and standby power generation, entertainment venues, industrial power, warehousing, port container handling and material handling.

Current status[edit]

The Lates recession caused the construction industry to nearly grind to a halt, which forced the company to reduce their workforce from 2, to 1, Ring Power was successful in obtaining a government contract to refurbish military vehicles, but business from regular customers was slow.[1] Now, on the back end of another decade Ring Power has been picking up steam again. They have begun to hire "new to the industry" and "talented veterans of the industry" employees. They have also started many 'training program' positions for salesmen, technicians, and management.

Philanthropy[edit]

Ringhaver Park in Jacksonville consists of acres of mostly wetlands. It has 6 soccer fields, 4 softball fields, 2 tennis courts and bleachers & benches; 3 covered picnic shelters with 18 picnic tables; a two-mile (&#;km) paved trail to a dock for canoe/kayak launching on the Ortega River. It was named for founder Lambert C. Ringhaver, whose family donated funds for park development after his death in [6][7]

The $ million, 44, ft2 Ringhaver Student Center at Flagler College opened for the school year. It was built using funds donated by the Ringhaver family.[8][9]

References[edit]

  1. ^ abHunt, David (April 15, ). "Rubio: St. Johns heavy equipment dealer a snapshot of stimulus". Florida Times-Union. Retrieved 2 May
  2. ^Strupp, Dave (June 13, ). "Ring Power's leader grew up in family business". Jacksonville Business Journal. Retrieved 2 May
  3. ^Mathis, Karen Brune (August 24, ). "Ring Power circling for new area site". Florida Times-Union. Archived from the original on Retrieved 2 May
  4. ^Mathis, Karen Brune (September 12, ). "Ring Power to start St. Johns building soon". Florida Times-Union. Archived from the original on Retrieved 2 May
  5. ^Cashill, Margaret (May 15, ). "Coolest office spaces: Ring Power Corp". Tampa Bay Business Journal. Retrieved 2 May
  6. ^"Ringhaver Park". . City of Jacksonville. Archived from the original on Retrieved 2 May
  7. ^"Ortega Stream Valley @ Ringhaver Park". City of Jacksonville. Retrieved 2 May [permanent dead link]
  8. ^Grove, Allen. "Ringhaver Student Center at Flagler College". About.com. Retrieved 2 May
  9. ^Trammell, Halie (September 25, ). "Student center dedication honors Ringhavers". The Gargoyle. Retrieved 2 May

External links[edit]

Sours: https://en.wikipedia.org/wiki/Ring_Power
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Our Story

On the Waterfront

It's ironic that a company whose growth, opportunities, achievements and reputation arose on land actually got its start on the water.

In L.C. Ringhaver, or "Ring," as he liked to be called, left Cleveland, Ohio for St. Augustine, Florida. The year-old accountant had been tasked with finding a way to dramatically increase production at a modest shrimp boat industry that was suddenly awash in post-war demand.

Once Ring took charge of DESCO, production jumped quickly. Convinced that assembly- line production would turn out better boats at less cost to the buyer, Ring implemented manufacturing techniques he picked up during his previous time with GM's Cleveland Diesel. Within a decade, the company was launching two shrimp trawlers every week. The company's payroll jumped as well, from 35 to By DESCO was the world's largest builder of shrimp trawlers. Ring purchased Desco from GM along with business partner James Melton. Five years later, Ring became the company's sole owner.

Ring's ownership gave the company more freedom to appraise - and purchase - diesel engines built by other manufactures. After years of carefully observing top marine engine producers, Ring drew conclusions that repeatedly led to his recommendation of engines built by Caterpillar Tractor Company. By the late 's, DESCO had become Florida's single largest Caterpillar engine customer.

In , Ring Power Corporation was born when Caterpillar chose Ring as its official engine dealer. Just a year later the president of Lobrano Machinery Company passed away. Lobrano had been the Caterpillar dealer principal for North Florida, and his passing left Caterpillar in need of a new earthmoving equipment dealer in North Florida.

Ring Power Corporation Appointed Full-Line Caterpillar Dealer

There were no shortage of candidates, but in the end Caterpillar determined L.C. Ringhaver was the best candidate and awarded Ring Power Corporation the appointment as a full- line Caterpillar dealer in

Ring Power Corporation grew extensively under Ring's leadership, adding divisions and building new facilities in Jacksonville, Ocala and Tallahassee.

Changing of the Guard

In L.C. Ringhaver passed away, leaving uncertainty in the business community as to Ring Power's future. Although L.C. Ringhaver's sons, Lance and Randy had grown up working for Ring Power and learning every facet of the family business, Lance was just 36; Randy, only Customarily Caterpillar did not appoint dealer principals in their twenties or thirties. But Caterpillar renewed the dealer agreement, affirming their confidence in Ring Power's current management.

Due to Ring's health complications, Lance Ringhaver had already been appointed company president in , with Ring assuming a supervisory role as chairman. Lance's promotion came after four years of experience serving as Executive Vice President and General Manager. Also by , Randy was serving as Vice President and Secretary - revolutionizing the Cat business model status quo and building a new foundation for subsequent success in the used equipment sales, international sales and equipment rental business.

Tampa Bound

In , Rozier Machinery Company, held jointly by three sisters, decided to exit the Caterpillar business. The decision left Caterpillar with a decision of its own: who to appoint to serve the Central Florida territory. After weeks of negotiations and an impressive presentation Lance Ringhaver got the call that Caterpillar had chosen Ring Power Corporation to become its Central Florida Dealer. Caterpillar insisted that a new company was formed to serve the new territory, thus Ringhaver Equipment Company of Tampa was formed under the RPC, Inc. umbrella.

Lance decided to make the move to Tampa to establish Ringhaver Equipment Company, leaving Randy with the new authority of President and General Manager of Ring Power Corporation. Ringhaver Equipment Company's agreement with Caterpillar officially began September 1, Ringhaver Equipment Company was able to accomplish in three years what others had done in thirty, establishing one of the quickest growing Caterpillar dealerships in the country.

One Company. One Vision.

The turn of the century heralded big changes for Ringhaver Equipment Company and Ring Power Corporation. After 14 years of operating separately, health issues precipitated plans for Lance's retirement.

In , Ringhaver Equipment Company and Ring Power Corporation officially merged into one consolidated company with Randy Ringhaver as Chairman and President of the new Ring Power Corporation. The combined Cat dealership territory now consists of 44 counties throughout North and Central Florida.

Coming Full Circle

In Ring Power moved into its new corporate headquarters in St. Augustine, just a dozen miles or so from where L.C. Ringhaver started it all in Today, Ring Power Corporate headquarters in St. Augustine oversees the operations of 18 branch locations throughout the state of Florida, including large regional facilities in Tampa and Orlando. A Pompano Beach branch supports air compressor, crane, and utility customers in South Florida. Ring Power also has facilities outside of Florida -  New Jersey, the Carolinas, Tennessee, Georgia, Texas and California - to serve the needs of other specialized industries and customers.

In, DavidAlbanwasappointedPresident and assumed day-to-day leadership of the company. Randy Ringhaver remainsChairman and Chief Executive Officer.

Sours: https://www.ringpower.com/about-us/our-story/

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RING POWER Revenue, Growth & Competitor Profile

DBA RING POWER CORPORAION

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Company Profile & Annual Report for Ring Power

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Ring Power Fast Facts

Note: Revenues for privately held companies are statistical evaluations.


Ring Power's annual revenues are over $ million (see exact revenue data) and has over 1, employees. It is classified as operating in the Machinery, Equipment & Supplies Merchant Wholesalers industry.



Ring Power's Annual Report & Profile shows critical firmographic facts:
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Ring Power Annual Revenue and Growth Rate



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Ring Power's Income Statement (based on Industry Averages)

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Ring Power Revenue (Sales)Ring Power Premium Report
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Trademark Applications

Trademark applications show the products and services that Ring Power is developing and marketing. Ring Power doesn't have any recent trademark applications, indicating Ring Power is focusing on its existing business rather than expanding into new products and markets. Trademarks may include brand names, product names, logos and slogans.

TrademarkDate
THE ROOK TACTICAL SOLUTIONS
T-shirts
09/13/
RING POWER THE ROOK TACTICAL SOLUTIONS
Armoured land vehicles; Utility terrain vehicles (UTVs)
09/04/
ACT ADVANCED CHROME TECHNOLOGIES
Metal plating services featuring high velocity thermal spray metal coatings
09/04/

See all trademarks and details in the Full Report.


Recession Risk

Determine whether Ring Power grew or shrank during the last recession. This is useful in estimating the financial strength and credit risk of the company. Compare how recession-proof Ring Power is relative to the industry overall. While a new recession may strike a particular industry, measuring the industry and company's robustness during the last recession estimates its ability to weather future recessions.





Market Share of Ring Power's Largest Competitors

A competitive analysis shows these companies are in the same general field as Ring Power, even though they may not compete head-to-head. These are the largest companies by revenue. However, they may not have the largest market share in this industry if they have diversified into other business lines. The "Competition" section of a business plan or investment memorandum would start by analyzing the information about these companies. Competitive advantage comes from offering better pricing or superior products/service.

CompanyHeadquartersRevenue ($ MM)
W.W. GRAINGERLake Forest, IL 
AIRGAS USARadnor, PA 
AMERICAN BUILDERS & CONTRACTORS SUPPLYBeloit, WI90 
TOMITA USAPlain City, OH89 
APPLIED INDUSTRIAL TECHNOLOGIESCleveland, OH36 
R.D. OFFUTTFargo, ND31 
DANMAR INDUSTRIESHouston, TX25 
TEXAS PROCESS EQUIPMENTHouston, TX22 
SCP DISTRIBUTORSCovington, LA21 




Nearby Competitors

These companies are similar in business line and location to Ring Power. While some companies compete with neighboring businesses for customers, other companies may compete to attract skilled employees.





Future Competition: Ring Power's Fastest Growing Competitors

These companies are in the same general field as Ring Power and are rapidly expanding. Companies may grow organically or through acquisition. In some cases apparently high growth rates may be caused by data that weren't available in previous years.

CompanyRevenue ($ MM)
Ring Power Competitors


Sours: https://incfact.com/company/ringpower-staugustine-fl/
Ring Power: North \u0026 Central Florida Caterpillar Dealer

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