Alta Equipment Group Inc., (“Alta”) announced that it has entered into a definitive agreement to acquire the stock of Ginop Sales, Inc., a privately held equipment distributor with three locations in Northern Michigan. This acquisition expands Alta’s construction equipment footprint to ten locations in Michigan and expands its relationship with a leading OEM.
Established in 1959, Ginop is an elite Kubota dealer and a trusted source of sales, rentals, service, and parts for the full line of Kubota equipment and attachments.
Ryan Greenawalt, Chief Executive Officer of Alta, said, “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. 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.”
Ginop Sales, Inc., generated approximately $65 million in revenue and had adjusted EBIT of approximately $6.5 million for the trailing-twelve-month period ended August 2021. Terms of the acquisition are expected to be disclosed upon closing. The transaction is expected to close prior to year-end, subject to customary conditions.
