Who Owns Alta Equipment Group Company?

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Who owns Alta Equipment Group today?

Alta Equipment Group went public via a SPAC merger in February 2020, transforming its ownership and fueling roll-up expansion. Headquartered in Livonia, Michigan, Alta combines equipment sales, rentals, parts and service across 80+ locations.

Insiders, founders and institutions share ownership: founder-led insider stakes remain meaningful, while mutual funds and ETFs comprise large institutional holdings; the public float trades under ALTG.

See Alta Equipment Group Porter's Five Forces Analysis for competitive context.

Alta Equipment Group was founded in 1984 by Steven ‘Steve’ Greenawalt as Alta Lift Truck Services, Inc., focused on material handling distribution and service in Michigan. Greenawalt maintained concentrated control while building scale through tuck-in acquisitions and management incentive programs.

Founder control

Steven ‘Steve’ Greenawalt was the principal founder and long-time majority equity holder, steering strategy and M&A.

Early equity distribution

Early management received minority stakes and options tied to growth and profitability to align incentives.

Private recapitalizations

Pre-2020 recapitalizations consolidated founder and management stakes into a holding structure ahead of the SPAC merger.

Cap table transparency

Specific inception cap-table percentages from 1984 were not publicly disclosed; late-2010s filings show insiders as principal owners.

Lender warrants

Select lenders held warrants from prior financings, a common feature in regional dealer roll-ups to bridge growth capital.

Governance protections

Early agreements included buy-sell provisions, management incentive units with vesting, and drag/tag rights to enable strategic exits.

Until the SPAC transaction that took Alta public in 2020–2021, control remained concentrated with Greenawalt and a tight leadership circle, with no public record of major founder disputes.

Key facts for ownership research

Use filings and public disclosures to trace Alta Equipment Group ownership and insider stakes; see related market analysis for context.

• Founder: Steven ‘Steve’ Greenawalt retained majority control through decades of tuck-ins.
• Pre-IPO structure: Private recapitalizations consolidated stakes into the holding entity that merged with the SPAC.
• Insiders: By late 2010s, senior executives were principal insider owners; lenders held warrants from financings.
• Governance: Early buy-sell, vesting incentives, and drag/tag rights facilitated future liquidity events.

For broader competitive context and shareholder implications, see Competitors Landscape of Alta Equipment Group.

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Key events shaping Alta Equipment Group ownership include 2010s private consolidation financed by debt and owner capital, the February 2020 SPAC listing on NYSE as ALTG that introduced B. Riley affiliates and PIPE investors, and aggressive 2020–2024 M&A plus 2023–2025 institutionalization that broadened the public float and deepened institutional ownership.

SEC filings and public ownership databases through 2024–2025 show a diversified cap table: insiders retain meaningful stakes while institutional holders own a substantial portion of free float; no single controlling shareholder is evident.

Ownership Breakdown & Strategic Effects

Major shareholders shaped Alta’s roll-up strategy, rental-fleet expansion, and M&A-focused capital plan; leverage targets and FCF conversion grew more central as institutions increased.

• Founder/Insiders: Steven Greenawalt is the largest individual insider; combined insiders typically hold in the high single to low double digits (percent)
• B. Riley affiliates: Retained a meaningful post‑SPAC stake and have actively managed positions
• Institutional investors: Vanguard, BlackRock, Dimensional, and small-cap specialists commonly appear among top holders; top 10 institutions often represent 40–60% of shares outstanding in similar profiles
• Public float: Majority of shares held by public investors with no controlling single shareholder as of 2025

Key financial/strategic metrics cited by investors: target net leverage commonly aimed at 3x–4x during growth cycles, and focus on improving return on invested capital and free cash flow conversion to support continued M&A and fleet growth; for related revenue and model context see Revenue Streams & Business Model of Alta Equipment Group.

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Alta Equipment Group's board (2024–2025) combines founder representation with independent directors experienced in distribution, industrials, and finance; Steven Greenawalt is Executive Chairman and Ryan Greenawalt is CEO and director, with committees that are majority-independent.

Committees include Audit, Compensation, and Nominating & Governance, each staffed with majority-independent members; board composition supports consolidation strategy and oversight of capital structure and acquisition discipline.

Board and Voting Highlights

Voting power at Alta mirrors share ownership under a one-share-one-vote framework; insiders hold meaningful but non-controlling stakes, while institutions collectively influence outcomes.

• Alta uses one-share-one-vote common stock; no dual-class or super-voting founder shares
• No golden shares or special veto rights are publicly disclosed as of 2025
• Insider ownership concentrated among founders; institutional holders include mutual funds and pensions per 2024–2025 filings
• No major proxy contests reported through 2025; investor engagement focused on leverage, capital allocation, and acquisition discipline

For background on origins and the SPAC transaction that shaped the current ownership structure see Brief History of Alta Equipment Group; SEC filings for 2024 proxy statements and Form 10-K report insider and institutional stakes, with top institutional holders typically holding single-digit to low-double-digit percentages and founders/insiders holding notable aggregated influence but not a controlling block.

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Recent ownership trends at Alta Equipment Group show a steady institutionalization of the shareholder base from 2022–2025 while founder-aligned insiders retain strategic influence; acquisitions and equity issuance tied to M&A and compensation modestly increased public float and liquidity.

Leadership continuity under CEO Ryan Greenawalt supports strategic consistency while management targets disciplined M&A, aftermarket growth and deleveraging toward mid-3x net leverage through cycles; activists have pressured peers but Alta reported no major campaign as of 2025.

Acquisition financing mix

Deals often used debt, equity and seller consideration, increasing public float and institutional ownership gradually.

Insider ownership dynamics

Equity issuance for incentives modestly diluted insider percentage but preserved founder-aligned governance and voting influence.

Institutional investor base

Inclusion in small-cap indices and increasing institutional holdings broadened Alta Equipment Group ownership and improved liquidity.

Outlook to 2025

Ownership expected to trend toward greater institutional concentration with periodic insider sales and continued equity-based compensation; no public dual-class or go-private moves observed.

For context on market positioning and investor targeting related to these ownership shifts see Target Market of Alta Equipment Group.

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