Alta Acquires Ambrose Equipment For Undisclosed Sum

December 15, 2021 1:43 PM | 1 min read |

Alta Equipment Group Inc ALTG has agreed to acquire the assets of family-owned Ambrose Equipment, LLC., expanding its construction equipment footprint to 39 locations in 10 states.
The company plans to disclose the terms of the acquisition upon closing, expected to occur before year-end.
Ambrose Equipment is a privately held equipment distributor and premier asphalt equipment dealer in New Hampshire and Massachusetts. It generated ~$35 million in revenue and adjusted EBITDA of ~$3.1 million for the trailing twelve-month ended August 2021.
Alta Equipment noted the acquisition expands construction equipment business within New England region.
Alta Equipment held $1.2 million cash on hand as of September 30, 2021.
Price Action: ALTG shares are trading lower by 1.26% at $13.33 on the last check Wednesday.