Alta Equipment’s net revenues increased 65.5% year over year to $280.4 million in Q4 of 2020, and increased 56.7% year over year to $873.6 million for the full year. Construction and material handling revenues reached $440.0 million and $433.6 million. Alta’s new and used equipment sales increased by about $8 million, or 29 percent year over year.
Alta also has a $42 million parts inventory, according to the company. Construction parts and service sales increased more than 8% and rent-to-rent revenue decreased 3.4%.
According to a press release, the group completed seven acquisitions to expand geographic footprint and increase presence in existing markets. This includes the acquisition of Vantage Equipment and Howell Tractor. These acquisitions were consistent with the company’s growth strategy of further penetrating existing markets, and increasing product lines.
