Hilo sells new and used material handling equipment and partners with manufacturers, including Hyster-Yale Group, Kelley and JLG. The company also offers repairs and maintenance. Hilo generated approximately $50 million in revenue and had adjusted EBITDA of approximately $3 million in fiscal 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,” Ryan Greenawalt, CEO of Alta, said. “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.”
Terms of the acquisition were not disclosed. The transaction is expected to close in early Q3/20, subject to customary conditions.
Alta owns and operates an integrated equipment dealership platform 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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