Alta Equipment Continues to Expand with Acquisition of Ohio Distributor Gibson Machinery
Alta Equipment Group has entered into a definitive agreement to acquire Gibson Machinery LLC, a privately held premium equipment distributor based in Oakwood Village, near Cleveland, Ohio. The acquisition expands Alta’s construction equipment footprint adds several new original equipment manufacturing partners.
The family-owned Gibson Machinery offers a full-line of heavy equipment product lines and specialty attachments, as well as service, rentals, replacement parts and equipment financing. Gibson Machinery sells, rents and services a range of heavy equipment, earthmoving, material handling, compaction and demolition equipment. The company has been in business for 37 years. Gibson serves a wide variety of customers in the construction, recycling and steel and demolition markets.
“Adding the Gibson team to the Alta family supports our growth within the Great Lakes region while broadening our best-in-class product portfolio and service capabilities,” said Ryan Greenawalt, Alta CEO. “The transaction presents a good opportunity to expand our service operation and OEM relationships. We look forward to building on Gibson’s reputation for excellent service and growing our presence in the important Northern Ohio market as we continue to execute on our growth strategy of expanding our geographic footprint into key markets.”
Gibson Machinery generated approximately $19 million in revenue and had adjusted EBITDA of approximately $3.2 million for the trailing-12-month period ended June 2021. Terms of the acquisition will be disclosed at closing. The transaction is expected to close in late Q3 or early Q4 of 2021, subject to customary conditions.
MelCap Partners, LLC (www.melcap.com) served as investment banker and financial advisor to Gibson Machinery on this transaction.
Alta Equipment, Livonia, Mich., is No. 25 on the RER 100.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.