secwatch.observer — SEC 8-K summary
======================================

Issuer:     ALTA EQUIPMENT GROUP INC. (ALTG)
CIK:        0001759824
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0000950170-23-057736
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1759824/000095017023057736/0000950170-23-057736-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1759824/000095017023057736/altg-20231101.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-057736

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer