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Mitsubishi to buy Equipment Depot

Wednesday, 17 Apr 2019 ( #919 ) - Houston, TX, United States
News Story
MLNA’s acquisition of Equipment Depot will strengthen its position in the industry
Mitsubishi Logisnext (MLNA) will acquire all of the outstanding equity interests of Pon Material Handling, a US materials handling equipment dealer operating under the business name of Equipment Depot.

Mitsubishi Logisnext manufactures and sells forklift equipment in North, Central and South America through its two subsidiaries including Mitsubishi Caterpillar Forklift America (MCFA) and UniCarriers Americas Corporation.

Announcing the acquisition, Mitsubishi Logisnext notes that the North American market is its most important market and the company is looking to take a step in expanding its operations in the U.S. and broadening its product and service solution offerings to its customers.

"This acquisition will help the company achieve its current mid-term business plan and also deliver greater growth in the future as well," according to the announcement.

The statement explains that Equipment Depot has been one of the largest independent materials handling and rental businesses in the US and is also the largest dealer for MCFA, with a stable and profitable client base.

"Overall, MLNA’s acquisition of Equipment Depot will strengthen its position in the industry by expanding its direct sales channels, enhancing its service offerings and ensuring achievement of future growth goals. This acquisition will enable the company to meet the comprehensive needs of both existing and new customers in the materials handling, parts, services and rental businesses."

Terms of the transaction have not been disclosed.

Settlement of the acquisition will depend on approval under US antitrust law "and fulfilment of other closing conditions".
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