Indianapolis-based MacAllister Machinery Co. Inc. on Thursday announced its acquisition of Michigan Tractor and Machinery Co. in Novi, Mich.

Both companies are their state’s official dealer for Peoria, Ill.-based Caterpillar Inc., a manufacturer of heavy construction equipment.

Terms of the deal between the private companies were not disclosed.

MacAllister Machinery has 750 employees in 16 locations throughout Indiana. Founded in 1945, it is owned by President Chris MacAllister, who also will lead Michigan Tractor and Machinery.

The acquired company, known as Michigan Cat, was founded in 1944 and has been led by three generations of the same family. It has 590 employees and eight locations in Michigan's lower peninsula.

Current top executive Jerry Jung decided to sell the company when it became clear that future generations of the family were not interested in running the company.