LIVONIA—Alta Equipment Group Inc. (NYSE: ALTG) announced an agreement to acquire Martin Implement Sales Inc., a privately held premium equipment distributor with three branches in the Chicago metro area.
Terms of the acquisition were not disclosed. The transaction is expected to close in Q3 2020, subject to customary conditions.
Martin sells primarily construction and agricultural equipment in partnership with industry leading manufacturers, and offers comprehensive services, including equipment financing, replacement parts, and factory-authorized service, for sale or rent to contractors and municipalities. Known for their award-winning service, Martin generated approximately $28 million in revenue and had reported earnings before interest, taxes, depreciation and amortization of about $3.1 million in FY2019.
Said Alta CEO Ryan Greenawalt: “Adding this exceptional equipment distributor accelerates our growth in the Illinois construction market and broadens our best-in-class product portfolio and service capabilities. We look forward to working with the Novak family and Steve Martin to build on the successful company that they have built.”
Alta owns and operates one of the largest integrated equipment dealerships in the United States. 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 48 total locations across Michigan, Illinois, Indiana, New England, New York, Virginia, and Florida. More at www.altaequipment.com.