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Alta Equipment Group Acquires Ambrose Equipment

December 17, 2021, 07:11 AM
Filed Under: Mergers & Acquisitions

Alta Equipment Group Inc. announced it has entered into a definitive agreement to acquire the assets of Ambrose Equipment, LLC., a privately held equipment distributor and the Northeast’s premier asphalt equipment dealer for more than 33 years, with locations in New Hampshire and Massachusetts. The acquisition expands Alta’s construction equipment footprint to 39 locations in 10 states.

Based in Hooksett, NH, the family-owned Ambrose Equipment is the preeminent equipment solution provider in the LeeBoy dealer network. Ambrose offers a full line of industry-leading road equipment products and specialty attachments, as well as service, rentals and replacement parts.

Ryan Greenawalt, Chief Executive Officer of Alta, said, “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. 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 Equipment generated approximately $35 million in revenue and had adjusted EBITDA of approximately $3.1 million for the trailing-12-month period ended August 2021. Terms of the acquisition will be disclosed upon closing. The transaction is expected to close before year-end, subject to customary conditions.

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