DeWITT, N.Y. — DeWitt–based Liftech Equipment Companies, a forklift and construction-equipment dealer, has acquired Altamont, New York–based Capitaland Material Handling.
The acquisition “was finalized” on March 7, Liftech said in a news release issued Wednesday. Financial terms of the deal were not disclosed.
Altamont is a village located in the town of Guilderland in Albany County.
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Liftech plans to close the existing Capitaland Material Handling facility and consolidate all its operations into Liftech’s Schenectady unit.
The merger forms the “largest” forklift and commercial floor-equipment sales and service dealership in the Capital Region, Liftech said.
Liftech employs more than 150 people and operates seven locations across New York state and Vermont.
The merger will allow Liftech to service more customers across the region, including manufacturers, distributors, and retailers with fleet sizes ranging from one to 100.
The acquisition increases Liftech’s combined field-service team in the Capital Region to more than 20 technicians.
Capitaland Material Handling customers will also “benefit from increased access” to forklift brands that include Hyster and Yale, Liftech said.
“As distribution, manufacturing, and logistics companies throughout the region grow in numbers, they’re increasingly seeking full-service forklift and material-handling providers that deliver value and reliability to large and small customers, alike,” Joe Verzino, president of Liftech, said in the release.
“Strength through consolidation is a reality in many industries, and our business is no different,” Bruce Quay, president of Capitaland Material Handling, said. “The material-handling sector has experienced significant consolidation in its manufacturing segment and similar trends are underway at the dealer level. It was clear after talking to Joe [Verzino] that Capitaland Material Handling will greatly benefit from Liftech’s resources and brands.”
Quay will assist Liftech management in completing the transition. He plans to “explore other business interests upon his departure.”
Contact Reinhardt at ereinhardt@cnybj.com
