Alta Equipment Group will acquire Howell Tractor and Equipment, a heavy equipment dealer serving northern Illinois and northwest Indiana.
Howell currently offers a range of construction, mining material handling and crane equipment. Its present lines include Sennebogen material handlers and Mantis crawler cranes, along with a variety of used and rental equipment.
In operation since 1943, Howell Tractor has two facilities in Gary, Indiana and Peru,Illinois. It generated approximately $33.1 million in revenue and had adjusted EBITDA of approximately $5.0 million in the trailing twelve months through July 2020.
“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,” says Ryan Greenawalt, Alta CEO. “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, which is expected to close this year, were not disclosed.
This is one of several Alta acquisitions this year, which have included Flagler Equipment, now Alta Equipment Florida; HILO Equipment & Services in New York City area and Martin Implement Sales in the Chicago area.
Read the full article here
