Alta Equipment is being merged with an investment firm in a $550 million deal that will turn the construction equipment dealership group into a public company. According to Crain’s Detroit, B. Riley Principal Merger Corp. has entered a definitive merger agreement with the equipment supplier expected to close in Q1 of 2020.
The company will change its name to Alta Equipment Group Inc. following the merger. The company is anticipated to have year-end revenue of $900 million, which would include the business of two pending dealer acquisitions by Alta, according to the article. If those deals close, Alta would operate in 43 locations.
Source: Crain’s Detroit
