Alta Equipment Company acquired Flagler

Background: FlaglerCE Holdings, LLC (“Flagler”), founded in 2008 and based in Tampa, FL, engages in the sale, rental, and servicing of heavy construction equipment. Flagler has the exclusive rights to distribute Volvo Construction Equipment in the state of Florida. Flagler operates six main branches across Florida.
Cassel Salpeter:
- Served as financial advisor to the Company
- Ran a competitive bidding process amongst a select group of potential buyers, maximizing proceeds for Flagler’s stakeholders
- Provided assistance throughout all phases of the sale process
Challenges:
- Distressed operations with short timeline to close the deal
- Multi-constituent transaction that required the successful funding of a Special Purpose Acquisition Company (SPAC)
Outcome: On February 14, 2020, Alta Equipment Company acquired Flagler.
- Alta Equipment Group Inc. owns and operates integrated equipment dealership platforms in the U.S. Alta Equipment Company merged with B. Riley Principal Merger Corp., a SPAC, and changed its name to Alta Equipment Group Inc.