Alta Equipment Group Inc. in Livonia has agreed to acquire Vantage Equipment’s construction vehicle dealerships in Batavia, Syracuse, and Albany, N.Y. Terms of the acquisition were not disclosed.
As part of the deal, Alta will take over the distribution of Volvo Construction Equipment products in most of New York state, excluding Westchester County, the counties and boroughs of New York City, and Long Island.
“We are excited to welcome Vantage Equipment to the Alta team,” says Ryan Greenawalt, CEO of Alta. “The addition of Vantage further diversifies our customer base and will complement our Liftech business, which serves the New York material handling market. We believe Vantage has strong growth potential and look forward to bringing the full resources of Alta Equipment Group to the New York construction equipment market.”
Since its founding in 2004, Vantage Equipment has served the heavy-end municipal construction market. In addition to Volvo CE, Vantage Equipment represents several heavy-duty machinery manufacturers including Gradall. Vantage’s construction dealerships generated approximately $41 million in revenue and had adjusted EBITDA of approximately $4.7 million in the 12 months through Sept. 30.
The Vantage acquisition is Alta’s seventh since becoming a public company in February of 2020. To date in 2020, the company has invested $151 million into strategic acquisitions that have expanded the company’s geographic footprint, technician headcount, product lines, and OEM relationships while contributing approximately $34 million in adjusted EBITDA.