Alta adds distributors in eastern USA
By Murray Pollok21 December 2021
Fast-growing US equipment sales, service and rental business Alta Equipment Group has made further acquisition agreements, adding Ginop Sales, a Kubota distributor in Northern Michigan, and asphalt equipment dealer Ambrose Equipment, based in New Hampshire.
Ginop, which was established in 1959, has three locations and will boost Alta’s footprint in the state to 10 sites. The deal will also extend Alta’s relationship with Kubota.
Ginop sells, rents and services Kubota machines and attachments and has annual revenues of US$65 million.
The agreement to acquire Ambrose Equipment, a $35 million revenue distributor of asphalt equipment and LeeBoy dealer, will expand its operations in New Hampshire and Massachusetts.
Ryan Greenawalt, CEO of Alta, said; “The acquisition of Ginop strengthens Alta’s business and product offerings in our home state of Michigan by expanding our relationship with Kubota, a world-class OEM.”
He said Ambrose has been the “go-to” asphalt paving dealer in New England for three decades; “With the acquisition...Alta Equipment now offers the most diverse road construction equipment portfolio of products and services in the New England region.”
Alta is one of the largest equipment dealerships in the US, with more than 55 locations in Michigan, Illinois, Indiana, New England, New York, Virginia, Florida, and Ohio.
New and used construction and material handling equipment makes up around half of its sales, with equipment rental (including sales of rental fleet) comprising around a quarter of its business. Its rental business operates in Florida and the North Eastern States.
Total revenues for the nine months to 30 September 2021 were $856 million.