PeakLogix to be acquired by Michigan company
Chesterfield company specializes in warehouse automation and storage systems
Chesterfield County-based PeakLogix, a national material handling systems integrator, has entered into a definitive agreement to be acquired by Michigan-based Alta Equipment Group Inc.
Terms of the acquisition were not disclosed.
Located in Midlothian, PeakLogix specializes in the design and installation of warehouse automation and storage systems. The company generated approximately $25 million in revenue and $2 million in operating income in FY2019.
“The PeakLogix acquisition is a great strategic fit for Alta,” said Alta CEO Ryan Greenawalt in a statement issued Tuesday. “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.”
In business for 35 years, Alta operates an equipment dealership with 43 locations across Michigan, Illinois, Indiana, New England, New York and Florida. It 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.