Alta Expands Engineering and Design Capabilities in its Construction Business Segment
LIVONIA, Mich., November 18, 2021--(BUSINESS WIRE)--Alta Equipment Group Inc. (NYSE: ALTG) ("Alta") today announced that it has entered into a definitive agreement to acquire Midwest Mine Services LLC, a privately held company headquartered near Toledo, Ohio.
Midwest Mine Services designs, fabricates, and installs full aggregate processing plants for quarries, mines and recycling operations throughout the United States and is well-established in the Ohio and Michigan markets. The company is also the authorized dealer for several original equipment manufacturers and their component supply partners, further expanding Alta’s OEM relationships.
Ryan Greenawalt, Chief Executive Officer of Alta, said, "We’re pleased to welcome the Midwest Mine Services team to the Alta family. Strategically, this acquisition expands our expertise in a construction end market with ever-increasing demand for high-end engineering and design services. Our current presence with customers in the aggregate processing industry will help drive synergies and cross selling opportunities between Midwest Mine and our existing business. The company has the ability to operate across the entire United States, which will allow us to deploy Midwest Mine’s solutions throughout our footprint and beyond. Midwest Mine Services also fits well with Alta’s culture as it has built an outstanding record of delivering custom solutions and high-quality service. We welcome Bob Keaton and his entire team to the Alta family."
Midwest Mining Services generated approximately $17 million in revenue and had adjusted EBITDA of approximately $1.3 million for the trailing-twelve-month period ended July 2021. Terms of the acquisition were not disclosed. The transaction is expected to close in the fourth quarter of 2021, subject to customary conditions.
About Alta Equipment Group Inc.
Alta owns and operates one of the largest integrated equipment dealership platforms in the U.S. Through its branch network, the Company sells, rents, and provides parts and service support for several categories of specialized equipment, including lift trucks and aerial work platforms, cranes, earthmoving equipment and other material handling and construction equipment. Alta has operated as an equipment dealership for 37 years and has developed a branch network that includes over 55 total locations across Michigan, Illinois, Indiana, New England, New York, Virginia, Florida, and Ohio. 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.altg.com.
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Bob Jones / Taylor Krafchik