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Alta Equipment Group to Acquire Martin Implement Sales, Inc.

CHICAGO, IL — Alta Equipment Group Inc. announces that it has entered into a definitive agreement to acquire Martin Implement Sales, Inc., a privately held premium equipment distributor with three branches in the Chicago metro area.

Martin has a range of new and used equipment available for sale or rent to contractors and municipal customers. Martin sells primarily construction and agricultural equipment in partnership with manufacturers, and offers comprehensive services, including equipment financing, replacement parts, and factory-authorized service. Known for their award-winning service, Martin was recognized as a 2020 Top Equipment Dealer by SATISFYD. Martin generated approximately $28 million in revenue and had reported EBITDA of approximately $3.1 million in FY2019.

“We are excited to welcome the Martin team to the Alta family," said Ryan Greenawalt, Chief Executive Officer of Alta. "Adding this exceptional equipment distributor accelerates our growth in the Illinois construction market and broadens our best-in-class product portfolio and service capabilities. We look forward to working with the Novak family and Steve Martin to build on the successful company that they have built.”

Terms of the acquisition were not disclosed. The transaction is expected to close in Q3 2020, subject to customary conditions.

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.

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Alta has operated as an equipment dealership for 35 years and has developed a branch network that includes 51 total locations across Michigan, Illinois, Indiana, New England, New York, Virginia, 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.

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