Alta Equipment Group has entered an agreement to acquire NY-based Hilo Equipment & Services for an undisclosed sum. The deal will add three depots to Alta’s 43-location network that spans 10 U.S. states.The acquisition comes mere months following Alta’s acquisition of Flagler CE Holdings, LLC and Liftech Equipment Companies, Inc. in early 2020.

alta equipment group

Ryan Greenawalt, chief executive officer of Alta, said, “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.”

Hilo generated approximately $50 million in revenue in fiscal year 2019 and had adjusted EBITDA of about $3 million, according to reports. Alta’s 2019 net revenues topped $557.4 million, led by its acquisition of Northland Industrial Truck Co. in 2019. Alta’s first quarter financial results, announced in mid-May, saw net revenues of $180.5 million compared to last year’s $102.3 million. Rental revenues for Q1 increased more than 48 percent for the company. 

“I’m extremely proud of the incredible response to the Covid-19 pandemic from Alta’s one team culture,” Greenawalt said. ”Our first quarter financial results demonstrate the strength of our business model in terms of organic growth driven by our parts sales and service and the contributions of acquisitions. Our strategy to expand into new geographic markets and diversify our customer base has served us well during the current economic slowdown.”

Alta was formed more than 35 years ago and has diversified and expanded its portfolio through M&A activity. It sells, rents and provides parts and service support for lift trucks and access equipment, cranes, earthmoving equipment and other industrial and construction equipment.

 

ALH August-September 2020

Access Lift & Handlers - August-September 2020

Included in this sisue: 

  • INTERVIEW: ZOOMLION
    Zoomlion North America will debut boom and scissor lifts for the North American market this year. Lindsey Anderson speaks with the company.
  • ROTATING TELEHANDLERS
    For once, some good news: the rotating telehandler market across North America remains stable. Lindsey Anderson looks into the industry.
  • MAINTENANCE 
    Proper battery management and maintenance can decrease fleet costs and elongate battery life. ALH covers the best practices to keep machines running
  • SPECIALTY MEWPS 
    The specialty access industry provides endusers with everything from air-powered scissor lifts to 3-foot-wide bridge inspection units. ALH reports.
  • TIRES 
    With the new ANSI standards now in place, tires on boom lifts and roughterrain scissors will see some major changes. ALH reports.
  • SAIA SHOW 
    The Scaffold & Access Industry Association’s Annual Convention & Exposition will be held virtually this year. Read our guide for more.

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