Alta Equipment Group Inc. this week added to its growing acquisition empire by entering into a definitive agreement to acquire Howell Tractor and Equipment LLC., a privately held heavy equipment dealer serving Northern Illinois and Northwest Indiana.
Howell Tractor has an expansive range of heavy construction, mining, material handling, and crane equipment available for sale or rent to its premium customer base. As an equipment industry leader in the area since opening in 1943, Howell Tractor provides around the clock professional service, with an experienced and knowledgeable staff operating out of two fully equipped facilities in Gary, Ind., and Peru, Ill. Howell Tractor generated approximately $33.1 million in revenue and had adjusted EBITDA of approximately $5.0 million in the trailing 12 months through July 2020.
Ryan Greenawalt, CEO of Alta, said, “We are excited to welcome Howell Tractor to the Alta family. As we continue to expand our presence in the Illinois and Northwest Indiana markets, adding an industry leader like Howell Tractor bolsters our best-in-class service offerings and product portfolio. We intend to build on the strength of Howell Tractor’s reputation as a premier service provider and the partnerships it has established with leading manufacturers to enhance our overall customer experience.”
Terms of the acquisition were not disclosed. The transaction is expected to close in Q4 2020, subject to customary conditions.
This year Alta Equipment became a publicly traded company and has acquired Florida’s Flagler Equipment, Martin Implement Sales in the Chicago area, Hilo Equipment in New York, and PeakLogix, a national material handling systems integrator that specializes in the design and installation of warehouse automation and storage systems.
Alta owns and operates one of the largest integrated equipment dealership platforms in the U.S. Through its branch network, the company sells, rents, and provides parts and service support for several categories of specialized equipment, including lift trucks and aerial work platforms, cranes, earthmoving equipment and other industrial and construction equipment. Alta has operated as an equipment dealership for 35 years and has developed a branch network that includes 51 locations across Michigan, Illinois, Indiana, New England, New York, Virginia and Florida. Alta offers its customers a one-stop-shop for most of their equipment needs by providing sales, parts, service, and rental functions under one roof. More information can be found at www.altaequipment.com.
Alta Equipment, Livonia, Mich., is No. 39 on the RER 100.
