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Alta Equipment Named to Crain's Detroit Fast 50
Once again Alta Equipment Company has been named on the Crain's Fast 50 list ranking at number 15. The ranks of this years list measure growth from 2013 to 2016, however companies are not awarded this recognition based on pure percentage growth rate alone. Crain's considers the dollar amount of revenue growth in addition to the 3 year percentage growth. Over the past 3 years Alta has grown from $208,000,000 of revenue in 2013 to $330,000,000 in 2016, giving Alta an overall percentage growth rate of 59%. This annual award notes that revenue growth isn't everything in business, companies must also be profitable to be named on this list.
Alta Equipment's growth over the past 3 years has been organic and come from 2 main areas:
1. They expanded service capacity in their industrial business by opening up new facilities in Michigan, Illinois, and Indiana. Since 2013 Alta has added 4 new facilities, one of those facilities located in the heart of Downtown Detroit.
2. They fully integrated and operartionalized their previous construction and contractors' rental acquisitions. In addition, Alta increased the number of construction equipment manufacturers they represent which drove new sales. This would be organic growth through the opening of new facilities in Michigan, Indiana, and Illinois. Since 2013 Alta has added 4 new facilities, one of those facilities being in the heart of Downtown Detroit.