Alta acquires Howell
US based Alta Equipment group is to acquire Howell Tractor and Equipment a privately held heavy equipment dealer serving Northern Illinois and Northwest Indiana.
Established in 1943, Howell Tractor operates from two locations, Gary, Indiana and Peru - southwest of Chicago, Illinois. It distributes Sennebogen material handling machines and Tadano Mantis telescopic crawler cranes, but also runs a rental fleet that includes a wider range of cranes and heavy equipment.
The company had revenues of $33.1 million last year with earnings before interest and tax and depreciation etc... of approximately $5 million.
Alta chief executive Ryan Greenawalt 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, but the deal is expected to close before the end of the year.
Alta Equipment is publicly quoted and sells/distributes, rents and supports a wide range of equipment, including aerial work platforms, telescopic handlers and cranes, from a branch network that includes 51 total locations across Michigan, Illinois, Indiana, New England, New York, Virginia and Florida.