Alta Equipment Group Inc. announced Friday that it has entered into a definitive agreement to acquire Martin Implement Sales Inc., a privately held premium equipment distributor with three branches in the Chicago metro area.
Martin has an expansive range of new and used equipment available for sale or rent to contractors and municipal customers. 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. Martin was recognized as a 2020 Top Equipment Dealer by SATISFYD. Martin generated approximately $28 million in revenue and had reported EBITDA of about $3.1 million in FY2019.
Ryan Greenawalt, CEO of Alta, said, “We are excited to welcome the Martin team to the Alta family. 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.”
Terms of the acquisition were not disclosed. The transaction is expected to close in the third quarter of 2020, subject to customary conditions.
Martin Implement Sales’ central office is in Orland Park, Ill. The company has branches in South Elgin and Wauconda, Ill.
Alta has operated as an equipment dealership for 35 years and has developed a branch network that includes 48 total locations in 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, which went public earlier this year, has made a number of acquisitions, including, most recently, Hilo Equipment in New York. Alta is No. 39 on the RER 100.
