Alta Equipment Group Inc. announced on Oct. 15 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 an expansive 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-equippedfacilities in Gary, Ind., and Peru, Ill. Howell Tractor generated approximately $33.1 million in revenue and had adjusted EBITDA of approximately $5.0 million in the trailing 12 months through July 2020.
Ryan Greenawalt, CEO 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.
For more information, visit www.altaequipment.com.