Northampton-based Mawsley Machinery is the Manitou dealer for the Midlands region and has been trading since 1981.
Joint managing directors and owners Ian Wright and Jane Sheldon, both now in their 60s, have decided to sell up and retire.
Manitou has taken majority ownership but the new management team of Keith Pearce and Sam Sanderson have also taken minority stakes.
Mawsley Machinery has 27 employees and generated revenue of £19.2m in 2018.
Manitou Group president and CEO Michel Denis said: “Mawsley Machinery has got a team with a great expertise, an excellent know-how and a strong position in its market, especially in the service. Taking over a stake in our historical partner in the Midlands, we reinforce Manitou Group’s position in the UK to develop equipment distribution and services. In parallel to this long term strategic approach, we will continue to reinforce and develop all brands carried by Mawsley Machinery Ltd served in this region.”