Alta Equipment Group, Livonia, Mich., recently entered into a definitive agreement to acquire Hilo Equipment & Services — a privately held distributor of material handling equipment with three branches in the New York City metro area. Hilo sells new and used material handling equipment, partnering with manufacturers including Hyster-Yale Group, Kelley and JLG, and offers repairs and maintenance. Hilo generated approximately $50 million in revenue in 2019.
“Hilo aligns perfectly with our growth strategy by expanding our distribution footprint with best-in-class OEMs and adding valuable and talented employees who will help drive our ‘Customers for Life’ mantra. Hilo’s strategic presence in the New York City area gives us a major market foothold and strengthens our overall coverage of the northeastern United States. We are delighted to welcome the Hilo team to the Alta family,” said Ryan Greenawalt, CEO, Alta.
Terms of the acquisition were not disclosed. The transaction is expected to close early in the 2020 third quarter.
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