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Alta Equipment Group Acquires Ambrose Equipment

Fri December 17, 2021 - Northeast Edition
Alta


Based in Hooksett, N.H., the family-owned Ambrose Equipment and equipment solution provider in the LeeBoy dealer network, offers a full line of leading road equipment products and specialty attachments, as well as service, rentals and replacement parts.
Based in Hooksett, N.H., the family-owned Ambrose Equipment and equipment solution provider in the LeeBoy dealer network, offers a full line of leading road equipment products and specialty attachments, as well as service, rentals and replacement parts.

Alta Equipment Group Inc. announced that it has entered into a definitive agreement to acquire the assets of Ambrose Equipment LLC., a privately held equipment distributor and northeast 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 and equipment solution provider in the LeeBoy dealer network, offers a full line of leading road equipment products and specialty attachments, as well as service, rentals and replacement parts.

"For over three decades, Ambrose has been the ‘go-to' asphalt paving products dealer in New England," said Ryan Greenawalt, CEO of Alta. "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.

About Alta Equipment Group Inc.

Alta owns and operates one of the largest integrated equipment dealership platforms in the United States. Through its branch network, the company sells, rents and provides parts and service support for several categories of specialized equipment, including lift trucks and aerial work platforms, cranes, earthmoving equipment and other material handling and construction equipment. Alta has operated as an equipment dealership for 37 years and has developed a branch network that includes more than 55 total locations across Michigan, Illinois, Indiana, New England, New York, Ohio, Virginia and Florida. Alta offers its customers a one-stop-shop for most of their equipment needs by providing sales, parts, service and rental functions under one roof. For more information, visit www.altaequipment.com.




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