Hiab, a global leader in on‑road load‑handling solutions, entered into a strategic dealer agreement with Custom Truck One Source, Inc. (CTOS) that will give Hiab sales and service coverage for its loader cranes and MOFFETT truck‑mounted forklifts across 12 western states—California, Oregon, Washington, Idaho, Nevada, Arizona, Kansas, Missouri, Wisconsin, Pennsylvania, West Virginia, and New York—and eight northeastern states—New York, New Jersey, Delaware, Massachusetts, Rhode Island, Maryland, Connecticut, and parts of Pennsylvania.
The deal leverages CTOS’s network of more than 40 locations and a 24/7 service call center, positioning the company to support Hiab’s high‑volume product lines in key utility, telecom, and rail markets. CTOS’s “one‑stop‑shop” model will allow customers to purchase, service, and maintain Hiab equipment under a single roof, expanding CTOS’s revenue mix and creating new service opportunities.
CTOS has been expanding its footprint in recent months, opening new locations in Orlando, Florida (effective October 1 2025) and Portland, Oregon (effective June 1 2025). The company reported Q3 2025 revenue of $482.1 million, up 7.8% from Q3 2024, and a net loss of $5.8 million, a significant improvement over the $17.8 million loss in Q1 2025. With a market cap of $1.47 billion and a target leverage ratio of 3× by 2026, CTOS is pursuing vertical integration and a broader service offering to drive long‑term growth.
Hiab’s dealer network already spans 3,000 sales and service locations worldwide. The new agreement follows a recent deal with MGX Equipment Services on February 9 2026 and is part of Hiab’s strategy to achieve full U.S. coverage for its loader cranes. By securing extensive coverage in the western region and reinforcing its presence in the high‑volume New York market, Hiab is positioning itself to capture a larger share of the U.S. infrastructure and construction equipment market.
Ryan McMonagle, CEO of Custom Truck, said the partnership will “allow us to better serve the growing demand for smart, high‑performance loader cranes across our extensive operational footprint.” Pauliina Kunvik, Senior Vice President Sales and Services, North America at Hiab, added that the deal “secures the extensive coverage in the crucial West region of the U.S. that has been a long‑standing strategic priority for Hiab, while also reinforcing our presence in the high‑volume New York market.”
The agreement strengthens both companies’ market positions: Hiab gains deeper penetration in the western U.S., a region with significant infrastructure investment, while CTOS adds a high‑margin product line to its portfolio and expands its service capabilities. Together, the partnership is expected to enhance revenue diversification, improve service depth, and support long‑term growth in the U.S. market.
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