Alta Equipment Group in Livonia has agreed to acquire the stock of Ginop Sales Inc., a privately held equipment distributor with three locations in Alanson, Williamsburg, and Hillman in northern Michigan. Terms of the transaction are expected to be disclosed at closing.
The acquisition expands Alta’s construction equipment footprint to ten locations in Michigan while also expanding its relationship with a leading OEM. Ginop is a Kubota Elite dealer, meaning it’s a trusted source of sales, rentals, and service parts.
“The acquisition of Ginop strengthens Alta’s business and product offerings in our home state of Michigan by expanding our relationship with Kubota, a world-class OEM,” says Ryan Greenawalt, CEO of Alta. “The acquisition builds on our strategy of providing customers with superior equipment and unrivaled product support.
“For over six decades, Ginop has been northern Michigan’s trusted source for construction and agricultural equipment. Alta is honored to carry on the Ginop legacy and excited to add their talented team to the Alta family.”
Kubota’s lineup of products sold by Ginop include tractors, mowers, utility vehicles, construction equipment, and farm implements. Founded in 1959, the company generated approximately $65 million in revenue and an EBIT of approximately $6.5 million for the trailing-twelve-month period ending August 2021.
The transaction is expected to close prior to year-end, subject to customary conditions.
Alta owns and operates one of the largest integrated equipment dealership platforms in the U.S. Through its branch network, it sells, rents, and provides parts and service support for specialized equipment including lift trucks and aerial work platforms, cranes, earthmoving equipment, and other material handling and construction equipment.
It has operated as an equipment dealership for 37 years and has developed a branch network that includes more than 60 total locations across Michigan, Illinois, Indiana, New England, New York, Ohio, Virginia, and Florida.