Alta Equipment Group Inc. in Livonia, a large integrated equipment dealership platform, today announced it has entered a definitive agreement to acquire Midwest Mine Services near Toledo. Terms of the transaction were not disclosed.
Midwest Mine Services designs, fabricates, and installs full aggregate processing plants for quarries, mines, and recycling operations throughout the U.S. It is also the authorized dealer for several OEMs and their component supply partners, further expanding Alta’s OEM relationships.
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,” says Ryan Greenawalt, CEO of Alta. “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.”
Midwest Mine generated approximately $17 million in revenue and had adjusted EBITDA of $1.3 million for the trailing-twelve-month period ending in July 2021.
“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,” says Greenawalt. “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.”
Alta 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.
It operates more than 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.
The transaction is expected to close in the fourth quarter of 2021, subject to customary conditions.