Alta Equipment Group Inc., a leading integrated equipment dealership platform based in Livonia, announced it has entered into a definitive agreement to acquire the assets of Ambrose Equipment, a privately held equipment distributor and asphalt equipment dealer. Terms of the deal will be disclosed upon closing.
The acquisition expands Alta’s footprint in New Hampshire and Massachusetts, where Ambrose has locations, and brings its total construction equipment footprint to 39 locations in 10 states. Based in Hookset, N.H., Ambrose is a leading family-owned equipment dealer in the LeeBoy dealer network.
“For over three decades, Ambrose has been the ‘go-to’ asphalt paving products dealer in New England. 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,” says Ryan Greenwalt, CEO of Alta.
“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 offers a full line of industry-leading road equipment products and specialty attachments, as well as service, rentals, and replacement parts. Products include asphalt milling machines, chip spreaders, force feed loaders, material transfer vehicles, road wideners, tack trucks, and more.
The company, which also offers service, rentals, and replacement parts, generated approximately $35 million in revenue, and had adjusted EBITDA of approximately $3.1 million for the trailing twelve-month-period ending in August 2021. The transaction is expected to close before year-end, subject to customary conditions.
Alta has operated as an equipment dealership for 37 years and has developed a branch network that includes over 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.