Alta Equipment Group Inc., a specialized equipment provider in Livonia, today announced it has entered into a definitive agreement to acquire PeakLogix, a national material handling systems integrator located in Midlothian, Va.
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 industrial and construction equipment.
PeakLogix has expertise in the design and installation of warehouse automation and storage systems, and has been recognized for designing customer solutions using the latest equipment and technology advancements to deliver process improvement and automation to its customers.
In 2019 (FY), PeakLogix generated approximately $25 million in revenue and $2 million in operating income.
“The PeakLogix acquisition is a great strategic fit for Alta. The transaction is consistent with our strategy to grow our materials handling business, expand our geographic footprint, and increase profitability through accretive acquisitions,” says Ryan Greenawalt, CEO of Alta.
“PeakLogix will provide innovative, high-technology products, and service solutions across our materials handling business. We are excited to expand our scope and expertise in the fast-growing warehousing and logistics sector, and to help these customers drive efficiency and productivity. We welcome Bob and Sandy Giberson and their team to the Alta family.”
Terms of the acquisition were not disclosed. The transaction is expected to close by the end of June, subject to customary conditions.
Alta has operated as an equipment dealership for 35 years and has developed a branch network that includes 43 total locations across Michigan, Illinois, Indiana, New England, New York, 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.