Alta Equipment Group Inc. will acquire Howell Tractor and Equipment, LLC., a privately held heavy equipment dealer serving Northern Illinois and Northwest Indiana.
Howell Tractor sells and rents Caterpillar and Hitachi wheel loaders, Hitachi excavators, and Moxy ADTs, and serves the heavy construction, mining, material handling, and crane markets. Howell Tractor provides around-the-clock service, with 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 $5.0 million in the trailing twelve months through July 2020.
Ryan Greenawalt, Chief Executive Officer of Alta, 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. The transaction is expected to close in Q4 2020, subject to customary conditions.
