Alta Equipment Group Inc. announced 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.
Known for its award-winning service, Martin was recognized as a 2020 Top Equipment Dealer by SATISFYD. Martin generated approximately $28 million in revenue and had reported EBITDA of approximately $3.1 million in FY2019.
Ryan Greenawalt, chief executive officer 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 Q3 2020, subject to customary conditions.
For more information, visit altaequipment.com.