Alta Equipment Group Acquires Companies in New England and Ohio
Alta Equipment Group has agreed to acquire the assets of Ambrose Equipment LLC., a privately held equipment distributor and asphalt equipment dealer for more than 33 years, with locations in New Hampshire and Massachusetts. The acquisition expands Alta’s construction equipment footprint to 39 locations in 10 states.
Based in Hooksett, N.H., the family-owned Ambrose Equipment is the preeminent equipment solution provider in the LeeBoy dealer network. Ambrose offers a full line of industry-leading road equipment products and specialty attachments, as well as service, rentals and replacement parts.
Ryan Greenawalt, CEO of Alta, said, “For over three decades, Ambrose has been the ‘go-to’ asphalt paving products dealer in New England. With the acquisition of Ambrose, Alta Equipment now offers the most diverse road construction equipment portfolio of products and services in the New England region. By expanding our capabilities, OEM relationships within our territories, we continue to execute on our strategy of expanding our parts and service business and diversifying our offerings to customers.”
Ambrose Equipment generated approximately $35 million in revenue and had adjusted EBITDA of approximately $3.1 million for the trailing-12 -month period ended August 2021. Terms of the acquisition will be disclosed upon closing. The transaction is expected to close before year-end, subject to customary conditions.
Alta also recently agreed to acquire Midwest Mine Services LLC, a privately held company headquartered near Toledo, Ohio. Midwest Mine Services designs, fabricates, and installs full aggregate processing plants for quarries, mines and recycling operations throughout the United States and is well-established in the Ohio and Michigan markets. The company is also the authorized dealer for several original equipment manufacturers and their component supply partners, further expanding Alta’s OEM relationships.
“We’re pleased to welcome the Midwest Mine Services team to the Alta family,” added Greenawalt. “Strategically, this acquisition expands our expertise in a construction end market with ever-increasing demand for high-end engineering and design services. Our current presence with customers in the aggregate processing industry will help drive synergies and cross selling opportunities between Midwest Mine and our existing business. The company has the ability to operate across the entire United States, which will allow us to deploy Midwest Mine’s solutions throughout our footprint and beyond. Midwest Mine Services also fits well with Alta’s culture as it has built an outstanding record of delivering custom solutions and high-quality service. We welcome Bob Keaton and his entire team to the Alta family.”
Midwest Mining Services generated approximately $17 million in revenue and had adjusted EBITDA of approximately $1.3 million for the trailing-12-month period ended July 2021. Terms of the acquisition were not disclosed. The transaction is expected to close in the fourth quarter of 2021, subject to customary conditions.
Alta, based in Livonia, Mich., now has about 60 locations and 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.