- Alta Equipment Group Inc (NYSE:ALTG) has agreed to acquire the assets of family-owned Ambrose Equipment, LLC., expanding its construction equipment footprint to 39 locations in 10 states.
- The company plans to disclose the terms of the acquisition upon closing, expected to occur before year-end.
- Ambrose Equipment is a privately held equipment distributor and premier asphalt equipment dealer in New Hampshire and Massachusetts. It generated ~$35 million in revenue and adjusted EBITDA of ~$3.1 million for the trailing twelve-month ended August 2021.
- Alta Equipment noted the acquisition expands construction equipment business within New England region.
- Alta Equipment held $1.2 million cash on hand as of September 30, 2021.
- Price Action: ALTG shares are trading lower by 1.26% at $13.33 on the last check Wednesday.
