Alta Equipment Group Inc. (NYSE:ALTG) entered into a definitive agreement to acquire Yale Industrial Trucks Montreal Ltd on July 6, 2022. The implied enterprise value of the acquisition is estimated to be approximately $33.5 million, subject to post-closing purchase price adjustments. YIT generated approximately $46.6 million in revenue and adjusted EBITDA of $9.4 million in the trailing twelve months through May 2022. In connection with the acquisition of YIT, on July 6, 2022 the Company amended the ABL Facility by exercising $80.0 million of the $150.0 million accordion function increasing borrowing capacity from $350.0 million to $430.0 million, which includes a $35 million Canadian-denominated sublimit facility. The transaction is expected to close in the third quarter. Ernst & Young Orenda Corporate Finance Inc. acted as financial advisor to Yale Industrial Trucks Montreal Ltd.

Alta Equipment Group Inc. (NYSE:ALTG) completed the acquisition of Yale Industrial Trucks Montreal Ltd for $40.9 million on July 29, 2022. Alta Equipment also acquired $2.3 million of cash and assumed $6.3 million of liabilities of YIT.