ALTG - Alta to acquire Ginop Sales; terms to be disclosed on deal closing

Alta Equipment Group (NYSE:ALTG) has agreed to acquire the stock of Ginop Sales. Terms of the acquisition are expected to be disclosed upon closing, which is anticipated prior to year-end. Established in 1959, Ginop is a privately held equipment distributor with three locations in Northern Michigan. It is an elite Kubota dealer, offering sales, rentals, service, and parts for the full line of Kubota equipment and attachments. The business generated ~$65M in revenue and adjusted EBIT of ~$6.5M in the trailing-twelve-month period ended August 2021. The acquisition expands Alta's construction equipment footprint to ten locations in Michigan. Alta CEO Ryan Greenawalt commented, "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." Yesterday, Alta agreed to acquire equipment distributor Ambrose Equipment

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Alta to acquire Ginop Sales; terms to be disclosed on deal closing