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Alta Equipment Group to Acquire Howell Tractor and Equipment, LLC
GARY, IN — Alta Equipment Group Inc. (Alta) announces that it has entered 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 a range of heavy construction, mining, material handling, and crane equipment available for sale or rent to its 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, Indiana, and Peru, Illinois. Howell Tractor generated approximately $33.1 million in revenue and had adjusted EBITDA of approximately $5 million in the trailing 12 months through July 2020.
“We are excited to welcome Howell Tractor to the Alta family," said Ryan Greenawalt, Chief Executive Officer of Alta. "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.
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 total 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.
Construction Digest TrendsHowell Tractor has a range of heavy construction, mining, material handling, and crane equipment available for sale or rent to its 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, Indiana, and Peru, Illinois. Howell Tractor generated approximately $33.1 million in revenue and had adjusted EBITDA of approximately $5 million in the trailing 12 months through July 2020.
“We are excited to welcome Howell Tractor to the Alta family," said Ryan Greenawalt, Chief Executive Officer of Alta. "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.
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 total 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.
