Paving a path through generations

“We provide the machinery that builds America’s infrastructure,” said Bennett Closner, CEO. His father and uncle founded the company in Edinburgh, Texas, and later relocated to San Antonio. Bennett joined the business in the early 1980s and took the reins in 2003. His son, JB Closner, came on board in 2006 and now serves as president and COO.

Nearly 80 years after its creation, Closner has grown from a single location to a statewide network of sales, rental and service centers. Maintaining such a large inventory of expensive equipment and replacement parts is a cost-intensive business, one where mastering the art of financial management is critical for success and sustainability. In 2024, Closner sought to build on its financial strengths through a new partnership with BOK Financial®.

For heavy equipment dealers who manage a multi-million-dollar inventory, financing terms can play a major role in their cash flow and profitability. They need to keep a wide selection of equipment on their lots to meet the specific needs of buyers, but carrying too much interest expense for too long can create a financial quandary.

As Closner sought to build out its rental fleet across multiple locations, competitive interest rates were a key reason the company chose BOK Financial for financing. However, as the relationship has grown, BOK Financial continues to impress the Closners in different ways, such as through the banking team’s institutional knowledge.

"They are not just experienced in banking, but they also have what I call ‘customer awareness’; they understand how our business works and they know how to help us,"

Bennett Closner, CEO of Closner Equipment Company

Part of being helpful is being flexible, said Dan Walker, the BOK Financial commercial relationship manager that works with Closner. “Some banks exist solely to push loans and they don’t deviate from their terms. As a full-service financial institution, we’re different. We are in tune with the customer’s goals and challenges, and our job is to make them more successful,” he said. “For example, if sales are slow and cash flow is tight for an equipment dealer, we can work with them to find out-of-the-box solutions.”

BOK Financial’s regional focus and localized decision-making makes that flexibility possible.

“When I need some help, it’s clear that they have more authority at lower levels,” said Bennett. “I can get someone on the phone and get to an answer quickly, without going through five levels of approval.”

JB, who oversees operations from the company’s North Texas regional office, appreciates the convenience of working with BOK Financial, a product of personalized service supported by modern tools and technology.

“We needed to buy a new truck and Dan just said ‘send me the bill and we’ll put it on your line of credit.’ I didn’t know it could be that simple,” JB said. “And there are plenty of other times when I don’t need to call anyone; I can handle everything electronically through the bank’s website or mobile app.”

Like the Texas highway system, Closner Equipment Co. continues to expand. They opened a Houston branch in 2023 and a state-of-the-art Austin facility is on track for summer 2025. Bennett and JB have plans to add more lines of equipment and possibly move into neighboring states in the next few years.

“This business gets more complex all the time,” Bennett said. “So, we need a financial partner we can count on for support.”

While Closner’s relationship with BOK Financial is still young, the road ahead points to a prosperous future.