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.”
