News story

Alta lists on NYSE

Wednesday, 19 February 2020 ( #962 ) - New York, NY, United States
Ryan Greenawalt
Ryan Greenawalt
Dealer group Alta Equipment Holdings has begun trading on the New York Stock Exchange. The listing follows the merger between Alta and an affiliate of B. Riley Financial. Before the start of trading, Alta completed its two previously announced acquisitions of Liftech Equipment Companies and FlaglerCE Holdings, and the group now operates in 43 locations across Michigan, Illinois, Indiana, New England, New York and Florida. Alta's executive management team will continue to be led by Ryan Greenawalt, who will serve as the company's chief executive officer and chairman. The company's board of directors will be comprised of Dan Shribman, B. Riley Financial's chief investment officer and BRPM's former chief financial officer; Zachary E. Savas, president of Cranbrook Partners & Co.; Andrew Studdert, founder of Andrew P. Studdert & Associates; and Katherine White, Professor of Law at Wayne State University Law School. "The closing of the business combination marks a significant milestone in Alta's proud history," says Greenawalt. "The additions of Flagler and Liftech provide further scale to our dealer platform and provide a great opportunity to grow our aftermarket parts, sales and service business through geographic expansion. Our strengthened capital structure will further support organic growth as well as the robust opportunities in our acquisition pipeline." Alta claims it owns and operates one of the largest integrated equipment dealership platforms in the US. Through its branch network, the company sells, rents, and provides parts and service support for several categories of specialised equipment, including forklifts and aerial work platforms, cranes, earthmoving equipment and other industrial and construction equipment.