Ault Industries Inc. has been acquired by Alta Equipment Group Inc.

Toronto, November 02, 2023 – CCC Investment Banking (“CCC”), a leading national, independent investment bank acted as the exclusive financial advisor to Ault Industries Inc. (“Ault”) on its sale to Alta Equipment Group Inc. (“Alta”).

Ault is one of the largest privately owned specialized equipment dealers in Canada, offering a full line of crushing, screening, washing, and conveying equipment through numerous long-standing exclusive dealer arrangements with market leading OEMs. With facilities in Canada’s two largest markets (Ontario & Quebec), Ault provides equipment sales, rental, service, and aftermarket parts.

Alta is one of the largest equipment dealership platforms in the U.S, supporting several categories of specialized equipment through a branch network of over 80 locations across the U.S and Canada. The acquisition represents Alta’s first investment into the Canadian construction segment, allowing them to participate in a growing end market and inherit well-established relationships with new leading OEMs in the crushing and screening product category. Since its IPO in 2020, Alta has completed 16 acquisitions contributing more than $537 million in revenue. Alta intends to maintain Ault’s brand name, employees, and management team post-close.

“We are extremely excited to partner with the Ault team as they have built a high-performing equipment dealership in the aggregate and mining space, a growing end market in their region and for Alta,” said Ryan Greenawalt, Chief Executive Officer of Alta.

The sale of Ault Industries Inc. exemplifies another successful engagement completed by CCC Investment Banking within the Industrials industry. CCC’s relentless commitment to close helped facilitate a smooth transaction and orchestrated a deal that seamlessly aligned with Ault’s corporate objectives.

Jackson Ault, President at Ault Industries Inc. said:

“How does one go about shopping out an investment banker?  I was fortunate enough to get a personal reference to CCC.  Looking back on the transaction I know it would have been near impossible to come out with the results we did without CCC.  They created clear timelines, brought a variety of buyers to the table, outlined the key points to consider with each and then helped execute the entire transaction.  They helped me shop the lawyer and tax planners and made sure that all parties were sticking to their budgets and timelines. CCC are top class.”

About CCC

CCC is a leading national, independent investment bank operating out of offices in Toronto and Vancouver. With a distinguished track record spanning over four decades, CCC has consistently delivered expert advise to clients completing divestitures, acquisitions, capital raises, valuations, and other capital decisions. CCC’s approach to advisory is centered around actualizing its clients’ objectives through a blend of industry expertise, tailored solutions, and forward-thinking advice.