Toyota has acquired Hoist

Toyota Industries North America has entered into a definitive agreement to acquire the assets of Hoist Liftruck Mfg. The new company will be Hoist Material Handling, Inc.

"We're proud of what we've accomplished in building a terrific brand and quality products," says Hoist founder Marty Flaska. "I am retiring and will no longer be part of the business, but the company is in good hands. It's an honour to hand it off to the industry leader, Toyota."

Hoist Material Handling will be led by vice president and general manager Dan Kossow, VP of engineering Bob Miller, VP of sales Stu Jacover and VP of operations Ryan Delaney.

Delaney, who spent the last six years as director of quality for the Raymond Corporation, will join the Hoist Material Handling team in East Chicago, reporting to Tony Miller, senior VP of operations and engineering for Toyota Industrial Equipment Manufacturing.

"This is the perfect next step in the expansion of our Toyota Heavy Duty (THD) line," says Jeff Rufener, president of Toyota Material Handling USA. "Hoist has been a great manufacturer of heavy-duty equipment for years and brings a group of passionate, talented associates that will help us in our role as a full-line equipment supplier. We are excited about the future of Hoist Material Handling."

The acquisition of Hoist Material Handling adds to Toyota's already robust presence in the state of Indiana. Headquartered in East Chicago, with a 550,000 sqft. (51,000 sqm) factory, Hoist has nearly 25 years of experience manufacturing heavy-duty cushion tyre and pneumatic forklifts, reach stackers, container handlers, and more, ranging in lift capacity from 7 to 57 T.

Toyota has had an original equipment manufacturer (OEM) agreement with Hoist for the manufacture of large capacity forklifts under the THD brand since 2015.

Financial terms of the acquisition were not revealed.