The Chesterfield company specializes in warehouse automation and storage systems
June 3, 2020
PeakLogix, a national materials handling systems integrator based in Chesterfield County, 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 fiscal 2019.
âThe acquisition of PeakLogix is ââan excellent strategic choice for Alta,â Alta CEO Ryan Greenawalt said in a statement on Tuesday. âThe transaction is in line with our strategy of growing our material handling business, expanding our geographic footprint and increasing profitability through accretive acquisitions. PeakLogix will provide innovative, high-tech products and service solutions across our material handling business. We are excited to expand our reach and expertise in the rapidly growing warehousing and logistics industry and help these customers improve their efficiency and productivity. “
In business for 35 years, Alta operates an equipment dealership with 43 locations in Michigan, Illinois, Indiana, New England, New York and Florida. It sells, rents and provides parts and support for several categories of specialized equipment, including forklifts and aerial work platforms, cranes, earthmoving equipment and other industrial and construction equipment.