Alta acquires in Illinois
03 October 2023
US-based equipment sales, services and rental company Alta Equipment Group is to acquire Burris Equipment in a $14 million (€13.3 million) deal.
Founded in 1931, Burris Equipment is a supplier of construction and turf equipment and is a dealer for the likes of Kubota and Case Construction.
The company also has a rental division with a fleet that includes aerial work platforms, lighting towers, climate control equipment and air compressors.
The deal, which is expected to close in Q4 of 2023, will add $40.6 million (€38.5 million) in revenue and will expand Alta’s presence in Illinois with the addition of three locations in Joliet, Waukegan and Lakemoor.
Alta added that the deal will also enable it to enhance its product and rental capabilities.
Ryan Greenawalt, chief executive officer of Alta, said, “The acquisition of Burris will not only yield immediately accretive returns to shareholders but will also notably enhance our business in Illinois.
“In addition to adding important infrastructure and industry talent to the Chicago area in our Construction Equipment segment, we also eagerly embrace new OEM relationships stemming from the Burris acquisition, while simultaneously expanding with existing OEM partners to best serve Burris customers.
“This acquisition will fortify our product support presence and rental capabilities in the market, opening doors for the growth of our high-margin parts and service business. We extend a warm welcome to the Burris team as they become part of the Alta family.”
Since 2020, Alta has made 15 acquisitions, adding $487 million (€462 million) in revenue in the process.
Last year it opened a new business segment with the purchase of environmental processing equipment company Ecoverse Industries.