Alta Equipment Acquires Midwest Mine Services For Undisclosed Sum

Alta Equipment Group Inc. ALTG agreed to acquire Midwest Mine Services LLC, a privately held company based in Toledo, Ohio. Deal terms were not disclosed.
Midwest Mine Services designs, fabricates, and installs full aggregate processing plants for quarries, mines, and recycling operations throughout the U.S. and is well-established in the Ohio and Michigan markets. It is also the authorized dealer for several original equipment manufacturers and their component supply partners.
Midwest Mining Services generated ~$17 million in revenue and had adjusted EBITDA of ~$1.3 million for the trailing twelve-month ended July 2021. The transaction is expected to close in 4Q21.
Alta Equipment held cash in hand of $1.2 million as of September 30, 2021.
"We welcome Bob Keaton and his entire team to the Alta family," noted Ryan Greenawalt, CEO of Alta.
Price Action: ALTG shares traded higher by 0.36% at $16.87 on the last check Thursday.