Alta Equipment acquires Ault Industries for $36M, enters Canadian market

ALTA EQUIPMENT GROUP INC.

Total purchase price $36.0M: $23.2M cash, $2.2M seller note, $10.6M in ALTG common stock (819,398 shares at $13, vesting over 5 years).
Ault generated $50.3M revenue, $4.5M net income, $7.5M adjusted EBITDA for TTM through June 30, 2023.
Expands Alta's construction segment into Ontario, Quebec, and Maritime provinces; adds exclusive McCloskey distributorship.
Deal expected to be immediately accretive to free cash flow, profitability, EPS, and leverage ratios.
Since 2020 IPO, Alta has completed 16 acquisitions contributing $537M revenue and $66M adjusted EBITDA (including Ault).

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