Sun Acquisitions is pleased to announce the successful acquisition of Martin Implement, a leading heavy industrial and construction equipment distributor with three locations in Illinois.
Martin Implement, founded in 1945, distributes major brands of heavy equipment throughout the Midwest for the following industries: industrial, construction, agricultural, and turf. They also provide equipment rentals and maintain an extensive inventory of parts, which was included in the purchase price. They are well represented by an experienced management team and a dedicated staff and sales team to create the long-standing relationships they have with clients.
There are major growth opportunities for the new ownership to continue to grow the business. These opportunities include: the growth of equipment lines to include newer brands and to additional industries to meet the need of current customers, the expansion to fully utilize the real estate by increasing service business and inventory, and more.
This business attracted large numbers of interest from possible acquirers. Sun Acquisitions generated over 130 potential buyers for the business which led to multiple offers. The team at Sun Acquisitions facilitated a strategic acquisition for their client with Alta Equipment Group, a large construction equipment distributor with locations nationwide.
Senior Advisor, Tony Schiappa and VP of Operations, Joseph Beer, led the transaction team for all aspects of this successful client engagement. Domenic Rinaldi, Managing Partner, stated, “This transaction was a true team effort with great collaboration between the client, their long-time advisors and the Sun Acquisitions team.”