October 15, 2023
Alta Equipment Group, Livonia, Mich., has entered into a definitive agreement to acquire Burris Equipment Co., Waukegan, Ill., a supplier of construction and turf equipment with three locations in Illinois.
The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2023.
“The acquisition of Burris will not only yield immediately accretive returns to shareholders but will also notably enhance our business in Illinois,” said Ryan Greenawalt, CEO, Alta Equipment Group. “In addition to adding important infrastructure and industry talent to the Chicago area in our construction equipment segment, we also eagerly embrace new OEM [original equipment manufacturer] relationships stemming from the Burris acquisition, while simultaneously expanding with existing OEM partners to best serve Burris customers. This acquisition will fortify our product support presence and rental capabilities in the market, opening doors for the growth of our high-margin parts and service business. We extend a warm welcome to the Burris team as they become part of the Alta family.”
Through its branch network of more than 75 locations across the U.S. and Canada, Alta Equipment Group sells, rents, and provides parts and service support for several categories of material handling and construction equipment.
Including Burris Equipment Co., since Alta Equipment Group’s initial public offering in 2020, the company has completed 15 acquisitions which have contributed $487 million in revenue and $58 million in adjusted EBITDA (earnings before interest, taxes, depreciation and amortization).
