Alta Equipment Group acquires PeakLogix
Alta Equipment Group Inc. today announced that it has entered into a definitive agreement to acquire PeakLogix, a national material handling systems integrator located in Midlothian, Virginia. PeakLogix specializes in the design and installation of warehouse automation and storage systems and is recognized for designing customer solutions using the latest equipment and technology advancements to deliver process improvement and automation to its customers. PeakLogix generated approximately $25 million in revenue and $2 million in operating income in FY2019.
Ryan Greenawalt, Chief Executive Officer of Alta, said, “The PeakLogix acquisition is a great strategic fit for Alta. The transaction is consistent with our strategy to grow our materials handling business, expand our geographic footprint, and increase profitability through accretive acquisitions. PeakLogix will provide innovative, high technology products and service solutions across our materials handling business. We are excited to expand our scope and expertise in the fast-growing warehousing and logistics sector and to help these customers drive efficiency and productivity. We welcome Bob and Sandy Giberson and their team to the Alta family.”
The terms of the acquisition were not disclosed. The transaction is expected to close by the end of June, subject to customary conditions.