Alta Equipment has acquired Ginop Sales of Northern Michigan, and Ambrose Equipment, which has locations in New Hampshire and Massachusetts.
Ginop Sales is a privately held equipment distributor with three locations in Northern Michigan. This acquisition expands Alta’s construction equipment footprint to 10 locations in Michigan.
Established in 1959, Ginop is a Kubota dealer and a source of sales, rentals, service, and parts for the full line of Kubota equipment and attachments.
Ginop Sales generated approximately $65 million in revenue and had adjusted EBIT of approximately $6.5 million for the trailing-twelve-month period ended August 2021.
Ambrose Equipment is a privately held equipment distributor and asphalt equipment dealer with locations in New Hampshire and Massachusetts. The acquisition expands Alta’s construction equipment footprint to 39 locations in 10 states.
Based in Hooksett, New Hampshire, the family-owned Ambrose Equipment is in the LeeBoy dealer network. Ambrose offers a full line of road equipment products and specialty attachments, as well as service, rentals, and replacement parts.
Ambrose Equipment generated approximately $35 million in revenue and had adjusted EBITDA of approximately $3.1 million for the trailing-twelve-month period ended August 2021.
Both transactions are expected to close before year-end, subject to customary conditions.
Source: Alta Equipment
