Peoria, Illinois-based MH Equipment has acquired Torrance Equipment of Cedar Rapids, Iowa, to expand its business into the Iowa and northwestern Illinois markets.
The deal, details of which were not disclosed, makes MH Equipment a dual brand dealership for Hyster-Yale Group, makers of Hyster- and Yale-brand forklifts, in Iowa. Forklifts are MH Equipment’s new equipment specialty, along with aerial lifts, railcar movers and floor cleaning equipment. The company also rents equipment and sells used equipment.
MH has purchased all Torrance assets in the deal. More than 90 Torrance employees, including nearly 50 technicians, will make the transition to MH.
The acquisition brings MH Equipment’s number of locations to 28. New markets include the Quad Cities, straddling the Illionis and Iowa border, along with Cedar Rapids, Des Moines, Dubuque, and Mason City, Iowa.
“Torrance, under Steve Gallagher’s leadership, has been a successful Yale dealership for more than 20 years and has built a large and loyal customer base by providing integrity, outstanding value and unique solutions which aligns well with MH Equipment.” said John Wieland, CEO of MH Equipment. “Today’s acquisition allows us to expand our dealership and product offering while developing new customer relationships within the Iowa and northwestern Illinois market.”
“Our company is based on three principles: People Matter, Passion Inspires and Purpose Unites,” adds Wieland. “We look forward to demonstrating these principles by establishing trust with our new customers and new employees, and by demonstrating they can count on us to provide high-quality customer service and employment.”
MH Equipment was founded in 1952. Through organic growth and acquisitions, the company has grown from 50 employees and three locations to more than 900 employees with a footprint that encompasses the Midwest.
