Alta Equipment buys Ginop Sales, Ambrose Equipment
Alta Equipment Group will acquire Ginop Sales, a Kubota distributor with three locations in Northern Michigan, and Ambrose Equipment, a LeeBoy dealer with locations in New Hampshire and Massachusetts.
The deals expand Alta’s network to more than 60 locations across Michigan, Illinois, Indiana, New England, New York, Ohio, Virginia, and Florida.
Ginop generated approximately $65 million in revenue for the trailing twelve-month period ended August 2021.
“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 Alta CEO Ryan Greenawalt. “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.”
Ambrose generated approximately $35 million in revenue for the trailing twelve-month period ended August 2021.
“For over three decades, Ambrose has been the ‘go-to’ asphalt paving products dealer in New England, says Greenawalt. “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.”
Both transactions are expected to close in 2021.
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