Alta Equipment (ALTG) 10-K 14 Mar 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Mar. 11, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Registrant Name	ALTA EQUIPMENT GROUP INC.
Entity Central Index Key	0001759824
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	001-38864
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	83-2583782
Entity Address Address Line1	13211 Merriman Road
Entity Address City or Town	Livonia
Entity Address State or Province	MI
Entity Address Postal Zip Code	48150
City Area Code	248
Local Phone Number	449-6700
Document Annual Report	true
Document Transition Report	false
Entity Common Stock Shares Outstanding		32,805,359
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Public Float			$ 325.7
Entity Well known Seasoned Issuer	No
Entity Voluntary Filers	No
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Detroit, Michigan
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant's proxy statement relating to the 2024 Annual Meeting of Shareholders are incorporated by reference into Part III of this report.
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	ALTG
Security Exchange Name	NYSE
Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares
Trading Symbol	ALTG PRA
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash	$ 31	$ 2.7
Accounts receivable, net of allowances of $12.4 and $13.0 as of December 31, 2023 and 2022, respectively	249.3	232.8
Inventories, net	530.7	399.7
Prepaid expenses and other current assets	27	28.1
Total current assets	838	663.3
NON-CURRENT ASSETS
Property and equipment, net	464.8	377.8
Operating lease right-of-use assets, net	110.9	113.6
Goodwill	76.7	69.2
Other intangible assets, net	66.3	60.7
Other assets	14.2	6
TOTAL ASSETS	1,570.9	1,290.6
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current portion of long-term debt	7.7	4.2
Accounts payable	97	90.8
Customer deposits	17.4	27.9
Accrued expenses	59.7	55.1
Current operating lease liabilities	15.9	14.8
Current deferred revenue	16.2	14.1
Other current liabilities	23.9	7.5
Total current liabilities	635.1	471.2
NON-CURRENT LIABILITIES
Lines of credit, net	315.9	217.5
Long-term debt, net of current portion	312.3	311.2
Finance lease obligations, net of current portion	31.1	15.4
Deferred revenue, net of current portion	4.2	4.9
Guaranteed purchase obligations, net of current portion	2.5	4.7
Long-term operating lease liabilities, net of current portion	99.6	101.9
Deferred tax liability	7.7	6.4
Other liabilities	12.8	17.6
TOTAL LIABILITIES	1,421.2	1,150.8
CONTINGENCIES - NOTE 11
STOCKHOLDERS’ EQUITY
Preferred stock, $0.0001 par value per share, 1,000,000 shares authorized, 1,200,000 Depositary Shares representing a 1/1000th fractional interest in a share of 10% Series A Cumulative Perpetual Preferred Stock, $0.0001 par value per share, issued and outstanding at both December 31, 2023 and 2022
Common stock, $0.0001 par value per share, 200,000,000 shares authorized; 32,369,820 and 32,194,243 issued and outstanding at December 31, 2023 and 2022, respectively
Additional paid-in capital	233.8	222.8
Treasury stock at cost, 862,182 shares of common stock held at both December 31, 2023 and 2022	(5.9)	(5.9)
Accumulated deficit	(76.4)	(74.2)
Accumulated other comprehensive loss	(1.8)	(2.9)
TOTAL STOCKHOLDERS’ EQUITY	149.7	139.8
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	1,570.9	1,290.6
New Equipment
LIABILITIES AND STOCKHOLDERS’ EQUITY
Floor plan payable	297.8	211.5
Used and Rental Equipment
LIABILITIES AND STOCKHOLDERS’ EQUITY
Floor plan payable	$ 99.5	$ 45.3

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Accounts receivable, net of allowances | $	$ 12.4	$ 13
Preferred stock, par value | $ / shares	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	100,000	100,000
Common stock, par value | $ / shares	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	32,369,820	32,194,243
Common stock, shares outstanding	32,369,820	32,194,243
Treasury stock, common shares	862,182	862,182
Depository Shares
Preferred stock, shares issued	1,200,000	1,200,000
Preferred stock, shares outstanding	1,200,000	1,200,000
10% Series A Cumulative Perpetual Preferred Stock
Preferred stock, par value | $ / shares	$ 0.0001	$ 0.0001
Depositary receipt ratio	0.001	0.001
Preferred stock, dividend rate, percentage	10%	10%

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Total revenues	$ 1,876.8	$ 1,571.8	$ 1,212.8
Cost of revenues:
Total cost of revenues	1,369.6	1,152.2	898.4
Gross profit	507.2	419.6	314.4
General and administrative expenses	430.3	362.3	285.9
Non-rental depreciation and amortization	22.5	16.5	10.5
Total operating expenses	452.8	378.8	296.4
Income from operations	54.4	40.8	18
Other (expense) income
Interest expense, floor plan payable – new equipment	(8.4)	(2.7)	(1.7)
Interest expense – other	(48.6)	(29.1)	(22.3)
Other income	5.1	1.6	0.7
Loss on extinguishment of debt			(11.9)
Total other expense, net	(51.9)	(30.2)	(35.2)
Income (loss) before taxes	2.5	10.6	(17.2)
Income tax (benefit) provision	(6.4)	1.3	3.6
Net income (loss)	8.9	9.3	(20.8)
Preferred stock dividends	(3)	(3)	(2.6)
Net income (loss) available to common stockholders	$ 5.9	$ 6.3	$ (23.4)
Basic income (loss) per share	$ 0.18	$ 0.2	$ (0.74)
Diluted income (loss) per share	$ 0.18	$ 0.2	$ (0.74)
Basic weighted average common shares outstanding	32,447,754	32,099,247	31,706,329
Diluted weighted average common shares outstanding	32,877,507	32,301,663	31,706,329
New and Used Equipment Sales
Revenues:
Total revenues	$ 1,025.9	$ 817.2	$ 568.8
Cost of revenues:
Total cost of revenues	853.6	683.2	478
Parts Sales
Revenues:
Total revenues	278.3	234.8	178.5
Cost of revenues:
Total cost of revenues	183.2	157.4	123.4
Service Revenues
Revenues:
Total revenues	241.3	206.6	165.5
Cost of revenues:
Total cost of revenues	103.4	90.7	68.2
Rental Revenues
Revenues:
Total revenues	202.4	180.1	155.5
Cost of revenues:
Total cost of revenues	24.8	22.4	20.6
Rental Equipment Sales
Revenues:
Total revenues	128.9	133.1	144.5
Cost of revenues:
Total cost of revenues	94.5	103	122.9
Rental Depreciation
Cost of revenues:
Total cost of revenues	$ 110.1	$ 95.5	$ 85.3

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ 8.9	$ 9.3	$ (20.8)
Other comprehensive income (loss):
Foreign currency translation adjustments		1.6	(1.5)
Change in fair value of derivative, net of tax		(0.5)	(1.4)
Total other comprehensive income (loss)	[1]	1.1	(2.9)
Comprehensive income (loss)		$ 10	$ 6.4	$ (20.8)
[1] There were no material reclassifications from accumulated other comprehensive income (loss) reflected in Total other comprehensive income (loss) for the years ended December 31, 2023, 2022 and 2021. There were no material taxes associated with Total other comprehensive income (loss) for the years ended December 31, 2023, 2022 and 2021 .

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	$ 0	$ 0	$ 0

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions		Total	Cumulative Effect Period Of Adoption Adjustment	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Deficit Cumulative Effect Period Of Adoption Adjustment	Treasury Stock	Accumulated Other Comprehensive Income (Loss)
Balance at Dec. 31, 2020		$ 156.9				$ 216.2	$ (53.4)		$ (5.9)
Balance, shares at Dec. 31, 2020				1,200,000	30,018,502
Net income (loss)		(20.8)					(20.8)
Dividends on preferred stock		(2.6)					(2.6)
Stock-based compensation		1.2				1.2
Stock-based compensation, shares					65,000
Warrants exchanged into common stock					2,279,874
Balance at Dec. 31, 2021		134.7				217.4	(76.8)		(5.9)
Balance, shares at Dec. 31, 2021				1,200,000	32,363,376
Net income (loss)		9.3					9.3
Dividends on preferred stock		(3)					(3)
Dividends on common stock		(3.7)					(3.7)
Stock-based compensation		2.7				2.7
Stock-based compensation, shares					90,649
Foreign currency translation adjustments		(1.5)								$ (1.5)
Change in fair value of derivative, net of tax		(1.4)								(1.4)
Shares issued for acquisition		2.7				2.7
Shares issued for acquisition shares					212,400
Repurchases of common stock, shares	[1]				(472,182)
Balance at Dec. 31, 2022		139.8				222.8	(74.2)		(5.9)	(2.9)
Balance, shares at Dec. 31, 2022				1,200,000	32,194,243
Net income (loss)		8.9					8.9
Dividends on preferred stock		(3)					(3)
Dividends on common stock		(7.6)					(7.6)
Impact of adoption of new accounting standard (Note 2)			$ (0.5)					$ (0.5)
Stock-based compensation		4.3				4.3
Stock-based compensation, shares					175,577
Foreign currency translation adjustments		1.6								1.6
Change in fair value of derivative, net of tax		(0.5)								(0.5)
Contingent consideration classified as equity		6.3				6.3
Proceeds from stockholder short-swing profits		0.4				0.4
Balance at Dec. 31, 2023		$ 149.7				$ 233.8	$ (76.4)		$ (5.9)	$ (1.8)
Balance, shares at Dec. 31, 2023				1,200,000	32,369,820
[1] Correction of previously disclosed shares repurchased in 2020, not previously reported as a reduction of common stock shares outstanding. Amount is immaterial to the consolidated financial statements.

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends on preferred stock per share	$ 2.5	$ 2.5	$ 2.14
Dividends on common stock and dividend equivalent on stock-based compensation, per share	$ 0.228	$ 0.114

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING ACTIVITIES
Net income (loss)	$ 8.9	$ 9.3	$ (20.8)
Adjustments to reconcile net income to net cash flows used in operating activities:
Depreciation and amortization	132.6	112	95.8
Amortization of debt discount and debt issuance costs	2	1.8	2
Imputed interest	1	0.3	0.2
Loss (gain) on sale of property and equipment	0.2	(0.2)	(0.1)
Gain on sale of rental equipment	(34.4)	(30.1)	(21.6)
Provision for inventory obsolescence	2.2	1.4	0.9
Provision for losses on accounts receivable	7.2	5	4.2
Loss on debt extinguishment			11.9
Change in fair value of derivative instruments	(0.6)
Stock-based compensation expense	4.3	2.7	1.2
Gain on bargain purchase of business	(1.5)
Changes in deferred income taxes	(10.1)	(1.2)	3.6
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	(16.6)	(34.7)	(40.7)
Inventories	(286.3)	(272.6)	(154.1)
Proceeds from sale of rental equipment	128.9	133.1	144.5
Prepaid expenses and other assets	0.5	(4.1)	(10.7)
Manufacturers floor plans payable	122.5	77.3	(14.6)
Accounts payable, accrued expenses, customer deposits, and other current liabilities	7.3	26.7	30.2
Leases, deferred revenue, net of current portion and other liabilities	(4.3)	(0.7)	(1.2)
Net cash provided by operating activities	63.8	26	30.7
INVESTING ACTIVITIES
Expenditures for rental equipment	(62.2)	(63.9)	(42.3)
Expenditures for property and equipment	(12.4)	(12.8)	(8.1)
Proceeds from sale of property and equipment	0.5	1.2	2.3
Guaranteed purchase obligations expenditures	(3.1)	(0.4)	(1.9)
Expenditures for acquisitions, net of cash acquired	(45.6)	(86.7)	(63.4)
Net cash used in investing activities	(122.8)	(162.6)	(113.4)
FINANCING ACTIVITIES
Expenditures for debt issuance costs			(1.7)
Extinguishment of long-term debt			(153.1)
Proceeds from line of credit and long-term borrowings	379.6	413.2	633.2
Principal payments on line of credit, long-term debt and finance lease obligations	(288.3)	(298.3)	(386.2)
Proceeds from non-manufacturer floor plan payable	188.4	149.9	105.3
Payments on non-manufacturer floor plan payable	(179.7)	(121.9)	(110.1)
Preferred stock dividends paid	(3)	(3)	(2.6)
Common stock dividends declared and paid	(7.6)	(3.7)
Other financing activities	(2.1)	0.7	(1)
Net cash provided by financing activities	87.3	136.9	83.8
Effect of exchange rate changes on cash		0.1
NET CHANGE IN CASH	28.3	0.4	1.1
Cash, Beginning of year	2.7	2.3	1.2
Cash, End of period	31	2.7	2.3
Noncash asset purchases:
Net transfer of assets from inventory to rental fleet within property and equipment	$ 180.2	$ 122.9	165.3
Common stock as consideration for business acquisition	6.3	2.7
Contingent and non-contingent consideration for business acquisitions	$ 2	$ 12.7	0.9
Supplemental disclosures of cash flow information
Cash paid for interest	53.6	28	$ 20.2
Cash paid for income taxes	$ 5.7	$ 1

Organization and Nature of Oper

Organization and Nature of Operations	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF OPERATIONS	NOTE 1 — ORGANIZATION AND NATURE OF OPERATIONS Nature of Operations Alta Equipment Group Inc. and its subsidiaries (“Alta” or the “Company”) is engaged in the sale, service, and rental of material handling, construction, and environmental processing equipment in the states of Michigan, Illinois, Indiana, Ohio, Pennsylvania, New York, Virginia, Massachusetts, Maine, New Hampshire, Vermont, Rhode Island, Connecticut, Nevada, and Florida as well as the Canadian provinces of Quebec and Ontario. Unless the context otherwise requires, the use of the terms “the Company”, “we”, “us,” and “our” in these notes to the consolidated financial statements refers to Alta Equipment Group Inc. and its consolidated subsidiaries. Basis of Presentation The accompanying consolidated financial statements include the consolidated accounts of the Company and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All intercompany transactions and balances have been eliminated in the preparation of the consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are based on assumptions that we believe are reasonable under the circumstances. Due to the inherent uncertainty involved with estimates, actual results may differ. Refer to Critical Accounting Policies and Estimates within Item 7 for more information on items in the consolidated financial statements we consider require significant estimation or judgment. Inventory Valuation Inventories are stated at the lower of cost or net realizable value. Cost is determined by specific identification for equipment and a weighted-average method for parts. Net realizable value is the estimated selling price in the ordinary course of business less reasonably predictable costs of completion, disposal, and transportation. Included in new and used inventory is equipment that is currently on short-term lease to customers. The Company mainly transfers equipment from inventory into rental fleet based on management’s determination of the highest and best use of the equipment. This inventory is carried at the cost of the equipment less any accumulated depreciation. Property and Equipment Property and equipment are recorded at cost and depreciated over their estimated useful lives using the straight-line method, excluding certain categories of our rental equipment, specifically in what we determine to be rent-to-sell equipment categories. The rent-to-sell categories are depreciated on a percentage of rental revenues realized on the asset, or a unit of activity method of depreciation. The Company believes that the unit of activity method on these categories of equipment more appropriately matches depreciation expense to revenues versus a straight-line methodology, as asset utilization can vary month to month especially in our northern geographies where seasonality is a factor. In rent-to-rent product categories, where asset utilization is more stable, like in our Material Handling segment, we use a straight-line depreciation methodology, where estimated useful lives can range from five to ten years. The Company capitalizes expenditures for equipment, leasehold improvements, and rental fleet. Expenditures for repairs, maintenance, and minor renewals are expensed as incurred. Expenditures for betterments and major renewals that significantly extend the useful life of the asset are capitalized in the period incurred. When equipment is sold or otherwise disposed of, the cost and related accumulated depreciation are removed from the Consolidated Balance Sheets, with any resulting gain or loss being reflected in income from operations. Intangible Assets Intangible assets with a finite life consist of customer and supplier relationships, non-compete agreements, tradenames, and internal use software and are carried at cost less accumulated amortization. During the fourth quarter of 2021, the Company shortened the remaining useful lives of some tradename intangible assets resulting in accelerated amortization in the fourth quarter of 2021 and thereafter given our rebranding efforts on certain acquisitions. The estimated useful lives of the finite-lived intangible assets are as follows: Estimated Customer and supplier relationships 9 – 10 years Other intangibles 2 – 5 years Evaluation of Goodwill Impairment Goodwill is tested for impairment annually or more frequently if an event or circumstance indicates that an impairment loss may have been incurred. Application of the goodwill impairment test requires judgment, including: the identification of reporting units; assignment of assets and liabilities to reporting units; assignment of goodwill to reporting units; and determination of the fair value of each reporting unit. We estimate the fair value of our reporting units (which are our reportable segments) using a discounted cash flow methodology under an income approach, corroborated with the results of a market approach which analyzes the enterprise value (market capitalization plus interest-bearing liabilities) and operating metrics (e.g., earnings before interest, taxes, depreciation and amortization expenses) of companies engaged in the same or similar line of business that we deem comparable to our business and compare those metrics to those of the Company. We make judgments regarding the comparability of publicly traded companies engaged in similar businesses and base our judgments on factors such as size, growth rates, profitability, business model, and risk. We believe the combination of these valuation approaches yields the most appropriate evidence of fair value. Inherent in our preparation of cash flow projections are assumptions and estimates derived from a review of our operating results, business plans, expected growth rates, cost of capital, and tax rates. We also make certain forecasts about future economic conditions, interest rates, and other market data. Many of the factors used in assessing fair value are outside the control of management, and these assumptions and estimates may change in future periods. Changes in assumptions or estimates could materially affect the estimate of the fair value of a reporting unit, and therefore could affect the likelihood and amount of potential impairment. Financial Accounting Standards Board ("FASB") guidance permits entities to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the quantitative analysis. While the Company does not believe a qualitative assessment would have triggered the required quantitative assessment, the Company bypassed the optional qualitative assessments for each reporting unit and performed quantitative assessments at October 1, 2023, 2022 and 2021. We review goodwill for impairment by comparing the fair value of each of our reporting units' net assets to their respective carrying value. If the carrying value of a reporting unit’s net assets is less than its fair value, we do not recognize an impairment. If the carrying amount of a reporting unit’s net assets is greater than its fair value, we recognize a goodwill impairment for the amount of the excess of the net assets over the fair value, not to exceed the book value of goodwill. Our annual goodwill impairment testing conducted as of October 1, 2023, 2022 and 2021 indicated that all our reporting units had estimated fair values which exceeded their respective carrying amounts. Based on the results of the tests, there was no goodwill impairment. Evaluation of Long-lived Asset Impairment (excluding goodwill) Our long-lived assets principally consist of rental equipment, leases, property and equipment, and other intangible assets excluding goodwill. We review our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In reviewing for impairment, we first complete a qualitative assessment at the lowest level of identifiable cash flows for our long-lived assets (excluding goodwill). If there are indicators of impairment from the qualitative assessment, a quantitative analysis is performed where the carrying value of such assets is compared to the undiscounted future pre-tax cash flows expected from the use of the assets and their eventual disposition. If such cash flows are not sufficient to support the asset’s (or asset group’s) recorded value, an impairment loss may be recognized if the estimated fair value of the asset (or asset group) is less than the respective carrying value. The determination of future cash flows as well as the estimated fair value of long-lived and intangible assets involves significant estimates and judgment on the part of management. Our estimates and assumptions may prove to be inaccurate due to factors such as changes in economic conditions, expected asset utilization levels, our business activity levels or other changing circumstances. In support of our review for indicators of impairment, we perform a review of our long-lived assets at the lowest level of identifiable cash flows to conclude whether indicators of impairment exist associated with our long-lived assets, including our rental and non-rental equipment and right-of-use assets. Based on our most recently completed qualitative assessment in the fourth quarter 2023 , there were no indications of impairment associated with our long-lived assets. Business Combinations We allocate the fair value of purchase consideration to the tangible and intangible assets acquired and liabilities assumed, based on their estimated fair values on the acquisition date. Management develops estimates based on assumptions as part of the purchase price allocation process to value the assets acquired and liabilities assumed as of the acquisition date. These estimates are inherently uncertain and are subject to refinement when additional information is obtained during the measurement period. As a result, during the purchase price measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. We recognize a bargain purchase gain within "Other (expense) income, net", in the Consolidated Statements of Operations if the net fair value of the identifiable assets acquired and the liabilities assumed is in excess of the fair value of the total purchase consideration and any noncontrolling interests. Revenue Recognition Revenues are recognized when control of promised goods or services is transferred to customers in an amount that reflects the consideration the business expects to be entitled in exchange for those goods or services. Control is transferred when the customer has the ability to direct the use of and obtain the benefits from the goods and/or services. The Company’s revenues accounted for under Topic 606 - Revenues from Contracts with Customers ("Topic 606") generally have the transaction price fixed and clearly stated in the customer contracts. Substantially all the Company’s sales agreements contain performance obligations satisfied at a point in time, rather than over time, when control is transferred to the customer, generally at the time of delivery to, or pick-up by, the customer. The revenues recognized over time are primarily project-based and maintenance contract revenues where revenue is recognized as the performance obligations are satisfied over time using the cost-to-cost input method, based on contract costs incurred to date to total estimated contract costs. For contracts with multiple performance obligations, the Company allocates sales prices to each distinct performance obligation based on the observable selling price and recognizes revenues as each distinct performance obligation is met. Payment terms vary by the type and location of the customer and the products or services offered. Generally, the time between when revenue is recognized and payment is due is not significant. The Company does not evaluate whether the selling price includes a financing interest component for contracts that are less than a year or if payment is expected to be received less than a year after the good or service has been provided. Sales and other taxes collected from customers and remitted to government authorities are accounted for on a net basis and, therefore, are excluded from revenue. Shipping and handling costs are treated as fulfillment costs and are included in cost of revenues. The Company’s revenues do not include material amounts of variable consideration under Topic 606. Contracts with customers do not generally result in significant obligations associated with returns, refunds, or warranties. See Note 3, Revenue Recognition, for more information. Leases The Company's leases are accounted for under Topic 842 - Leases ("Topic 842"). The Company as Lessee: We determine whether an arrangement is a lease at the inception of the arrangement based on the terms and conditions in the contract. A contract contains a lease if there is an identified asset and we have the right to control the asset for a period of time in exchange for consideration. Lease right-of-use (“ROU”) assets represent our right to use an individual asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Lease ROU assets and liabilities are recognized at the commencement date for leases with terms greater than 12 months and meet our capitalization threshold based upon the present value of the remaining future minimum lease payments over the lease term. As most of our leases do not provide the lessor’s implicit rate, we use our incremental borrowing rate (“IBR”) at the commencement date in determining the present value of future lease payments by utilizing a fully collateralized rate for a fully amortizing loan with the same term as the lease. The Company applies the portfolio approach for the IBR on our leases based upon similar lease term and payments. The lease ROU asset also includes lease payments made in advance of lease commencement and excludes lease incentives. Operating lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components. For real estate leases and all equipment leases excluding vehicles, these components are accounted for as a single lease component. For vehicle leases, these components are accounted for separately. Variable lease expenses include payments based upon changes in a rate or index, such as consumer price indexes, variable payments on non-lease components related to leases that we account for as a single lease component, and charges fluctuating based on the usage of the leased asset. Short-term lease expenses include leases with terms at lease commencement of 12 months or less and no purchase option reasonably certain to be exercised, including leases with a duration of one month or less. Low-value lease expense includes leases with terms at lease commencement of greater than 12 months but do not meet our capitalization threshold, which is consistent with our property and equipment capitalization threshold. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants; however, there are certain lease agreements that include guaranteed purchase obligations for lift trucks. A ROU asset is subject to the same impairment guidance as assets categorized as property and equipment. As such, any impairment loss on ROU assets is presented in the same manner as an impairment loss recognized on other long-lived assets. The Company reviewed our lease ROU assets for impairment and determined that none of the assets were impaired during the years ended December 31, 2023, 2022 and 2021. Operating leases are included in "Operating lease right-of-use assets, net", "Current operating lease liabilities" and "Long-term operating lease liabilities, net of current portion" on the Company’s Consolidated Balance Sheets. Finance leases are included in "Property and equipment, net", "Current portion of long-term debt", and "Finance lease obligations, net of current portion" on the Company’s Consolidated Balance Sheets. See Note 10, Leases, related to the required lease disclosures. The Company as Lessor: See Note 3, Revenue Recognition, for more information. Income Taxes Alta Enterprises, LLC was historically and remains a partnership for federal income tax purposes, with each partner being separately taxed on its share of taxable income (loss). As most of the activity resides in Alta Enterprises, LLC, the income tax impact to the Company represents the current income tax calculated at the consolidated return level, (“Alta Equipment Group Inc. and Subsidiaries”), and the deferred impact of the interest in the lower tier partnership. As it relates to being a consolidated return filer, and considering the operating entity is a 100 % owned partnership, the Company uses the guidance in Topic 740 - Income Taxes ("Topic 740") asset and liability method of accounting for income taxes, under which deferred tax assets and liabilities are recognized for the future tax consequences of (i) temporary differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities and (ii) operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are based on enacted tax rates applicable to the future period when those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period the rate change is enacted. Deferred income tax assets are subject to valuation allowance considerations to recognize only amounts that are more likely than not to be ultimately realized. In accordance with Topic 740, we review the likelihood that we will realize the benefit of deferred tax assets and estimate whether recoverability of our deferred tax assets is “more likely than not”. In determining whether a valuation allowance is needed, on a quarterly basis we evaluate historical operating results, the existence of cumulative losses in the most recent fiscal years, expectations for future pretax operating income within the carryback or carryforward periods provided for in the tax law for each applicable tax jurisdiction, the time period over which our temporary differences will reverse and the implementation of feasible and prudent tax planning strategies. A cumulative loss in recent years is considered a significant piece of negative evidence that is difficult to overcome in assessing the need for a valuation allowance. See Note 12, Income Taxes, for more information. Fair Value of Financial Instruments Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Accounting standards establish a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The FASB fair value measurement guidance established a fair value hierarchy that prioritizes the inputs used to measure fair value. We assess the inputs used to measure fair value using the three-tier hierarchy. The three broad levels of the fair value hierarchy are as follows: • Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities • Level 2 — Quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly • Level 3 — Unobservable inputs for which little or no market data exists, therefore requiring a company to develop its own assumptions In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The estimated fair values of derivative financial instruments are valued using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative and quoted market prices for similar instruments from third parties. The fair value of interest rate caps is determined using the market-standard methodology of discounting the future expected cash receipts which would occur if floating interest rates rise above the strike rate of the caps. The floating interest rates used in the calculation of projected receipts on the caps are based on the period to maturity and an expectation of future interest rates derived from observable market interest rate curves and volatilities. The inputs used in the valuation of all our derivative contracts fall within Level 2 of the fair value hierarchy. Translation of Foreign Currency Assets and liabilities of our foreign subsidiaries that have a functional currency other than U.S. dollar are translated into U.S. dollars using exchange rates at the balance sheet date. Revenues and expenses are translated at average exchange rates effective during the year. Foreign currency translation gains and losses are included as a component of "Accumulated other comprehensive income (loss)" ("AOCI") within the Consolidated Balance Sheets. New Accounting Pronouncements New Accounting Pronouncements Adopted in 2023 Financial Instruments — Credit Losses On January 1, 2023, we adopted ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("Topic 326"). This standard prescribes an impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected losses rather than incurred losses. Under the new guidance, we recognize an allowance for our estimate of expected credit losses over the entire contractual term of our trade receivables from revenue transactions from the date of initial recognition of the financial instrument. Estimates of expected credit losses over their contractual life are recorded at inception based on historical information, current conditions, and reasonable and supportable forecasts. The adoption of Topic 326 did not have a material impact on the Company's consolidated financial statements and related disclosures or our existing internal controls as our non-rental accounts receivable are of short duration and there is not a material difference between incurred losses and expected losses. New Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued guidance to improve the disclosures about a public entity’s reportable segments requiring additional, more detailed information about a reportable segment’s expenses. The Company is required to adopt the guidance in the 2024 Annual Report on Form 10-K, though early adoption is permitted. The Company is currently evaluating the impact of this amendment on its consolidated financial statements. In December 2023, the FASB issued guidance to provide disaggregated income tax disclosures on the rate reconciliation and income taxes paid. The Company is required to adopt the guidance in the first quarter of 2025, though early adoption is permitted. The Company is currently evaluating the impact of this amendment on its consolidated financial statements. The Company believes all other recently issued accounting pronouncements from the FASB that the Company has not noted above will not have a material impact on its consolidated financial statements or do not apply to us.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	NOTE 3 — REVENUE RECOGNITION We recognize revenue in accordance with two different accounting standards: 1) Topic 606 and 2) Topic 842 . Disaggregation of Revenues The following table summarizes the Company’s disaggregated revenues as presented in the Consolidated Statements of Operations for the years ended December 31, 2023, 2022 and 2021 by revenue type and the applicable accounting standard. Year Ended December 31, 2023 Year Ended December 31, 2022 Year Ended December 31, 2021 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: New and used equipment sales $ — $ 1,025.9 $ 1,025.9 $ — $ 817.2 $ 817.2 $ — $ 568.8 $ 568.8 Parts sales — 278.3 278.3 — 234.8 234.8 — 178.5 178.5 Service revenues — 241.3 241.3 — 206.6 206.6 — 165.5 165.5 Rental revenues 202.4 — 202.4 180.1 — 180.1 155.5 — 155.5 Rental equipment sales — 128.9 128.9 — 133.1 133.1 — 144.5 144.5 Total revenues $ 202.4 $ 1,674.4 $ 1,876.8 $ 180.1 $ 1,391.7 $ 1,571.8 $ 155.5 $ 1,057.3 $ 1,212.8 The Company believes that the disaggregation of revenues from contracts to customers as summarized above, together with the discussion below, depicts how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors. See Note 17, Segments, for further information. Leases revenues (Topic 842) Rental revenues: Owned equipment rentals represent revenues from renting equipment. The Company accounts for these rental contracts as operating leases. The Company recognizes revenue from equipment rentals in the period earned, regardless of the timing of billing to customers. A rental contract includes rates for daily, weekly or monthly use, and rental revenues are earned on a daily basis as rental contracts remain outstanding. Because the rental contracts can extend across multiple reporting periods, the Company records unbilled rental revenues and deferred rental revenues at the end of each reporting period. Unbilled rental revenues are included as a component of "Accounts receivable, net" on the Consolidated Balance Sheets. Rental equipment may also be purchased outright (“rental equipment sales”). Rental revenue and revenue attributable to rental equipment sales are recognized in "Rental revenues" and "Rental equipment sales" on the Consolidated Statements of Operations, respectively. The Company enters into various equipment sale transactions with certain customers, whereby customers purchase equipment from the Company and then lease the equipment to a third party. In some cases, the Company provides a guarantee to repurchase the equipment at the end of the lease term between the customer and third-party lessee at a stated residual amount set forth in the initial sales contract or to pay the customer for the deficiency, if any, between the sale proceeds received for the equipment and the guaranteed minimum resale value. The Company is precluded from recognizing a sale of equipment when we are obligated or reasonably certain to exercise the option to repurchase or guarantee the resale value of the equipment to the customer for contracts determined to be operating leases. For these arrangements, because the Company generally receives the full amount of the consideration at the beginning of the arrangement, the Company initially records deferred revenue for the net proceeds upon the equipment’s initial transfer which excludes the guaranteed residual value, and a separate liability for the guaranteed residual value. This deferred revenue is recognized into rental revenues on a pro-rata basis over the lease contract period up to the first exercise date of the guarantee under Topic 842. At December 31, 2023 and December 31, 2022, the total deferred revenue relating to these equipment sale transactions amounted to $ 2.0 million and $ 3.0 million, respectively. The Company also recognized a liability in "Other current liabilities" and "Guaranteed purchase obligations, net of current portion" on the Consolidated Balance Sheets, for its guarantee to repurchase equipment at residual amounts of $ 4.8 million and $ 7.0 million as of December 31, 2023 and December 31, 2022, respectively. Revenues from contracts with customers (Topic 606) Accounting for the different types of revenues pursuant to Topic 606 is discussed below. The Company’s revenues under Topic 606 are primarily recognized at a point in time rather than over time. New and used equipment sales: With the exception of bill-and-hold arrangements and project-based revenues, the Company’s revenues from the sale of new and used equipment are recognized at the time of delivery to, or pick-up by, the customer, which is when the customer obtains control of the promised good(s). Under bill-and-hold arrangements, revenue is recognized when all configuration work is complete and the equipment has been set aside for final shipment, at which point the Company has determined control has been transferred. The bill-and-hold arrangements primarily apply to sales when physical shipment of heavy equipment to the customer is prohibited by law (e.g., frost laws) or requested by the customer due to their inability to arrange freight simultaneous to the satisfaction of the performance obligations. The customer equipment sold under a bill-and-hold arrangement is physically separated from Company inventory and that equipment cannot be used by the Company or sold to another customer. Revenues recognized from bill-and-hold agreements totaled $ 27.7 million and $ 15.6 million for the years ended December 31, 2023 and 2022, respectively. The Company does not offer material rights of return. Project-based revenues, as referred to herein, are contracts with customers where the Company provides design and build solutions, automated equipment installation and system integration and installation and set-up of warehouse management systems and related hardware and software support services. This revenue is recognized as the performance obligations are satisfied over time using the cost-to-cost input method, based on contract costs incurred to date to total estimated contract costs. The Company recognizes deferred revenue with respect to project-based services. The Company recognized $ 66.9 million, $ 77.5 million and $ 55.9 million in project-based revenues for the years ended December 31, 2023, 2022 and 2021, respectively. Parts sales: Revenues from the sale of parts are recognized at the time of pick-up by the customer for over-the-counter sales transactions and for parts associated with periodic maintenance services at the time such services are completed. For parts that are shipped to a customer, the Company has elected to use a practical expedient of Topic 606 and treat such shipping activities as fulfillment costs, thereby recognizing revenues at the time of shipment, which is when the customer obtains control. Service revenues: The Company records service revenues primarily from guaranteed maintenance contracts and periodic services with customers. The Company recognizes periodic maintenance service revenues at the time such services are completed. The Company recognizes guaranteed maintenance contract revenues over time based on an estimated rate at which the services are provided over the life of the contract, typically three to five years . Revenue recognized from guaranteed maintenance contracts totaled $ 24.0 million, $ 21.4 million and $ 18.8 million for the years ended December 31, 2023, 2022 and 2021, respectively. The Company also records service revenue from warranty contracts whereby the Company performs service on behalf of the OEM or third-party warranty provider. Rental equipment sales: The Company also sells rental equipment from our rental fleet. These sales are recognized at the time of delivery to, or pick-up by, the customer, which is when the customer obtains control of the promised good(s). In some cases, certain rental agreements contain a rental purchase option, whereby the customer has an option to purchase the rented equipment during the term of the rental agreement. Revenues from the sale of rental equipment are recognized at the time the rental purchase option agreement has been approved and signed by both parties, as the equipment is already in the customer’s possession under the previous rental agreement, and therefore control has been transferred as title has been transferred. Contract costs The Company does not recognize assets associated with the incremental costs of obtaining a contract with a customer that the Company expects to recover (for example, a sales commission). Most of the Company’s revenue is recognized at a point in time or over a period of one year or less, and the Company has used the practical expedient that allows it to recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the Company otherwise would have recognized is one year or less. The amount of the costs associated with the revenue recognized over a period of greater than one year is insignificant. Receivables and contract assets and liabilities With respect to our receivables, we believe the concentration of credit risk is limited because our customer base is comprised of a large number of geographically diverse customers. The Company has contract assets and contract liabilities associated with project-based contracts with customers. Contract assets are fulfilled contractual obligations prior to receivables being recognizable for project-based revenues. Contract assets as of December 31, 2023 and 2022 were $ 4.5 million and $ 3.6 million, respectively. The deferred revenue (contract liabilities) includes the unearned portion of project-based revenues, revenues related to guaranteed maintenance service contracts for customers covering equipment previously purchased and deferred revenues related to rental agreements. Total deferred revenue relating to project-based revenues, service maintenance contracts and equipment rental agreements as of December 31, 2023 and 2022 was $ 18.4 million and $ 16.0 million, respectively. Deferred revenue also includes the net proceeds upon sale of equipment with certain guaranteed purchase obligations. In total, deferred revenue as of December 31, 2023 and 2022 was $ 20.4 million and $ 19.0 million, respectively. The Company expects 80 % of total deferred revenues balance as of December 31, 2023 to be realized within the next year , 12 % in the following year , 5 % in the third year and 3 % thereafter . A portion of the deferred revenue is recognized based upon usage of the equipment and therefore may vary from our current expectation. For the years ended December 31, 2023 and 2022, the Company recognized revenue of $ 13.9 million and $ 12.6 million, respectively, from the prior year ending deferred revenue balance.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 4 — RELATED PARTY TRANSACTIONS During the fourth quarter 2022, substantially all of the Company's operating facilities that were previously leased from four real estate entities related through common ownership were sold to an unrelated third party. The Company continues to lease those facilities, however the lessor is no longer a related party. Total rent expense under these lease agreements, all of which were classified as operating, was $ 4.8 million for each of the years ended December 31, 2022 and 2021. Our CEO, CFO, and COO collectively own an indirect, non-controlling minority interest in OneH2, Inc. (“OneH2”), which they each acquired through various transactions that took place in early 2018 and prior. Our CEO is on the Board of Directors of OneH2. OneH2 is a privately held company that produces and delivers hydrogen fuel to end users and manufactures modular hydrogen plants and related equipment. The Company did no t make any purchases from OneH2 in 2021. During the years ended December 31, 2023 and 2022, the Company purchased approximately $ 0.4 million and $ 0.3 million of hydrogen fuel from OneH2, respectively. Additionally, the Company paid OneH2 $ 1.1 million and $ 3.1 million during the years ended December 31, 2023 and 2022 , respectively, as part of the Company's investment to build and commercialize a hydrogen production plant which we expect to become operational in 2024.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 5 — INVENTORIES December 31, December 31, New equipment $ 373.6 $ 258.5 Used equipment 54.6 59.0 Work in process 8.2 8.6 Parts 101.9 78.8 Gross inventory 538.3 404.9 Inventory reserves ( 7.6 ) ( 5.2 ) Inventories, net $ 530.7 $ 399.7 Direct labor of $ 1.2 million and $ 1.8 million incurred for open service orders were capitalized and included in work in process as of December 31, 2023 and 2022, respectively. The remaining work in process balances as of December 31, 2023 and 2022, primarily represent parts applied to open service orders. Rental depreciation expense, for new and used equipment inventory under short-term leases with purchase options, was $ 12.4 million, $ 7.6 million and $ 5.8 million for the years ended December 31, 2023, 2022 and 2021 , respectively.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 6 — PROPERTY AND EQUIPMENT Property and equipment, net, consisted of the following: December 31, December 31, Land $ 2.1 $ 2.1 Rental fleet 600.8 516.4 Buildings, equipment, and leasehold improvements: Machinery and equipment 8.5 8.6 Autos and trucks 7.7 7.1 Buildings and leasehold improvements 20.8 15.6 Construction in progress 6.1 4.3 Finance lease right-of-use assets 48.4 24.4 Office equipment 4.9 4.7 Computer equipment 13.3 13.1 Total cost 712.6 596.3 Less: accumulated depreciation and amortization: Rental fleet ( 209.4 ) ( 187.4 ) Buildings, equipment, autos and trucks, leasehold improvements, finance leases and office and computer equipment ( 38.4 ) ( 31.1 ) Total accumulated depreciation and amortization ( 247.8 ) ( 218.5 ) Property and equipment, net $ 464.8 $ 377.8 Total depreciation and amortization on property and equipment was $ 111.3 million, $ 98.5 million, and $ 86.7 million for the years ended December 31, 2023, 2022 and 2021, respectively. The Company had assets related to finance leases with gross carrying values totaling $ 48.4 million and $ 24.4 million, and accumulated amortization balances totaling $ 10.8 million and $ 5.4 million, as of December 31, 2023 and 2022, respectively. Of the $ 600.8 million and $ 516.4 million of gross cost of rental fleet, $ 8.9 million and $ 11.8 million were represented by guaranteed purchase obligation assets as of December 31, 2023 and 2022 , respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	NOTE 7 — GOODWILL AND OTHER INTANGIBLE ASSETS The following table summarizes the changes in the carrying amount of goodwill in total and by reportable segment during the years ended December 31, 2023 and 2022: Material Construction Master Distribution Total Balance, December 31, 2021 $ 11.6 $ 30.3 $ — $ 41.9 Additions 2.0 — 17.6 19.6 Adjustments to purchase price allocations — 7.7 — 7.7 Balance, December 31, 2022 $ 13.6 $ 38.0 $ 17.6 $ 69.2 Additions 1.1 5.4 — 6.5 Adjustments to purchase price allocations 0.3 — 0.7 1.0 Translation adjustments — — — — Balance, December 31, 2023 $ 15.0 $ 43.4 $ 18.3 $ 76.7 The Company reviewed our goodwill for impairment and determined that none of the goodwill was impaired during the years ended December 31, 2023, 2022 and 2021. See Note 2, Summary of Significant Accounting Policies, for more information on the impairment testing. The gross carrying amount of intangible assets and accumulated amortization as of December 31, 2023 and 2022 were as follows: December 31, 2023 Weighted Average Remaining Life (in years) Gross carrying Accumulated Net carrying Customer and supplier relationships 7.6 $ 73.6 $ ( 16.8 ) $ 56.8 Other intangibles 3.9 14.6 ( 5.1 ) 9.5 Total 7.0 $ 88.2 $ ( 21.9 ) $ 66.3 December 31, 2022 Weighted Average Remaining Life (in years) Gross carrying Accumulated Net carrying Customer and supplier relationships 8.3 $ 63.0 $ ( 10.1 ) $ 52.9 Other intangibles 4.2 10.7 ( 2.9 ) 7.8 Total 7.7 $ 73.7 $ ( 13.0 ) $ 60.7 Amortization of intangible assets was $ 8.9 million, $ 5.9 million, and $ 3.3 million for the years ended December 31, 2023, 2022 and 2021, respectively. The Company reviewed our finite-lived intangible assets for impairment and determined that none of the assets were impaired during the years ended December 31, 2023, 2022 and 2021. See Note 2, Summary of Significant Accounting Policies, for more information on the impairment testing. As of December 31, 2023, estimated amortization expense for intangible assets for each of the next five years and thereafter was as follows: Year ending December 31, Amount 2024 $ 10.3 2025 10.1 2026 9.9 2027 9.1 2028 8.3 Thereafter 18.6 Total $ 66.3

Floor Plans

Floor Plans	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
FLOOR PLANS	NOTE 8 — FLOOR PLANS Floor Plan — First Lien Lender On April 1, 2021, the Company entered into a Floor Plan First Lien Credit Agreement ("Floor Plan Credit Agreement") by and among Alta Equipment Group, Inc. and the other credit parties named therein, and the lender JP Morgan Chase Bank, N.A., as Administrative Agent. Under the Floor Plan Credit Agreement, the Company has a first lien floor plan facility (the "First Lien Floor Plan Facility") with our first lien lenders to primarily finance new inventory. On June 28, 2023, the Company amended our Floor Plan Credit Agreement to increase the maximum borrowing capacity by $ 10.0 million from $ 60.0 million to $ 70.0 million. The interest cost for the First Lien Floor Plan Facility is SOFR plus an applicable margin. The First Lien Floor Plan Facility is collateralized by substantially all assets of the Company. As of December 31, 2023 and 2022, the Company had an outstanding balance on our First Lien Floor Plan Facility of $ 67.4 million and $ 58.6 million, respectively, excluding unamortized debt issuance costs. The effective interest rate at December 31, 2023 and 2022 was 8.2 % and 7.0 % , respectively. The Company routinely sells equipment that is financed under the First Lien Floor Plan Facility. When this occurs the payable under the First Lien Floor Plan Facility related to the financed equipment being sold becomes due to be paid. OEM Captive Lenders and Suppliers’ Floor Plans The Company has floor plan financing facilities with several OEM captive lenders and suppliers (the “OEM Floor Plan Facilities”, and together with the First Lien Floor Plan Facility, collectively the “Floor Plan Facilities”) for new and used inventory and rental equipment, each with borrowing capacities ranging from $ 0.1 million to $ 148.5 million. Primarily, the Company utilizes the OEM Floor Plan Facilities for purchases of new equipment inventories. Certain OEM Floor Plan Facilities provide for up to twelve-months interest only or deferred payment periods. In addition, certain OEM Floor Plan Facilities regularly provide for interest and principal free payment terms. The Company routinely sells equipment that is financed under OEM Floor Plan Facilities. When this occurs the payable under the OEM Floor Plan Facilities related to the financed equipment being sold becomes due to be paid. With the recent acquisitions, some of the Company’s OEM Floor Plan Facilities were amended to include new locations and new entities. The OEM Floor Plan Facilities are secured by the equipment being financed, and contain certain operating company guarantees. The interest cost is SOFR plus an applicable margin. The effective rates, excluding the favorable effect of interest-free periods, as of December 31, 2023 ranged from 8.4 % to 10.5 % and 6.8 % to 9.2 % as of December 31, 2022. As of December 31, 2023 and 2022, the Company had an outstanding balance on the OEM Floor Plan Facilities of $ 330.1 million and $ 198.3 million, respectively. The total aggregate amount of financing under the Floor Plan Facilities cannot exceed $ 429.0 million at any time, which maximum amount is subject to a 10 % annual increase. To better align with its business operations, on February 28, 2024 the Company amended its ABL Facility and First Lien Floor Plan Facility primarily for the purpose of moving the effective date of such annual increase to December 31 st of each year, beginning with December 31, 2023. The total outstanding balance under the Floor Plan Facilities as of December 31, 2023 and 2022, was $ 397.5 million and $ 256.9 million, respectively, excluding unamortized debt issuance costs. For the years ended December 31, 2023, 2022 and 2021, the Company recognized interest expense associated with new equipment financed under our Floor Plan Facilities of $ 8.4 million, $ 2.7 million, and $ 1.7 million, respectively. The weighted average rate, excluding the favorable effect of interest-free periods, on the Company's Floor Plan Facilities was 8.0 % and 6.7 % as of December 31, 2023 and 2022 , respectively.

Long-term Debt

Long-term Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
LONG-TERM DEBT	NOTE 9 — LONG-TERM DEBT Line of Credit — First Lien Lender On April 1, 2021, the Company entered into a Sixth Amended and Restated ABL First Lien Credit Agreement (the “Amended and Restated ABL Credit Agreement”) by and among Alta Equipment Group Inc. and the other credit parties named therein, the lenders named therein, JP Morgan Chase Bank, N.A., as Administrative Agent, and the syndication agents and documentation agent named therein, superseding and replacing the Fifth Amended and Restated ABL First Lien Credit Agreement. Under the Amended and Restated ABL Credit Agreement, the Company has an asset based revolving line of credit (the “ABL Facility”) with our first lien holder with advances on the line being supported by eligible accounts receivable, parts, and otherwise unencumbered new and used equipment inventory and rental equipment. On June 28, 2023 the Company amended the ABL Facility by exercising $ 55.0 million of the Company's expansion option increasing borrowing capacity from $ 430.0 million to $ 485.0 million, which includes a $ 35 million Canadian-denominated sublimit facility. The ABL Facility is collateralized by substantially all assets of the Company, and the interest cost is SOFR plus an applicable margin on the CB Floating Rate, depending on borrowing levels. As of December 31, 2023 and 2022, the Company had an outstanding ABL Facility balance of $ 317.5 million and $ 219.5 million, respectively, excluding unamortized debt issuance costs. The effective interest rate was 7.2 % and 6.2 % at December 31, 2023 and 2022, respectively. Maximum borrowings under the Floor Plan Facilities and ABL Facility are limited to $ 914.0 million unless certain other conditions are met. The total amount outstanding as of December 31, 2023 and 2022, was $ 715.0 million and $ 476.4 million, exclusive of debt issuance and deferred financing costs of $ 1.8 million and $ 2.1 million, respectively. Senior Secured Second Lien Notes On April 1, 2021, the Company completed a private offering of Senior Secured Second Lien Notes (the “Notes”), for the purposes of, among other things, repayment and refinancing of a portion of the Company’s prior existing debt, reducing interest rate exposure and providing liquidity for financing of future growth initiatives. The Company sold $ 315.0 million of Notes at the rate of 5.625 % per annum which are due on April 15, 2026. Interest on the Notes is payable in cash on April 15 and October 15 of each year, beginning on October 15, 2021. The Notes are guaranteed (the “Guarantees” and, together with the Notes, the “Securities”) by the guarantors that are party thereto (the “Guarantors”) on a second lien, senior secured basis. The Notes were sold in a private placement in reliance on Rule 144A and Regulation S under the Securities Act of 1933, as amended, pursuant to a purchase agreement among the Company, the Guarantors, and J.P. Morgan Securities LLC, as representative of the initial purchasers. The Notes are guaranteed by each of our existing and future domestic subsidiaries that become a borrower or guarantor under our or the Guarantors’ indebtedness, including the Credit Agreements, as amended and restated concurrently with the closing of the Notes offering. The Notes and the Guarantees are secured, subject to certain exceptions and permitted liens, by second-priority liens on substantially all of our assets and the assets of the Guarantors that secure on a first-priority basis all of the indebtedness under our ABL Facility and the First Lien Floor Plan Facility and certain hedging and cash management obligations, including, but not limited to, equipment, fixtures, inventory, intangibles and capital stock of our restricted subsidiaries now owned or acquired in the future by us or the Guarantors. As of December 31, 2023, outstanding borrowings under the Notes were $ 312.3 million, which included $ 2.7 million deferred financing costs and original issue discounts. The effective interest rate on the Notes, taking into account the original issue discount, is 5.93 % . The Company’s long-term debt consists of the following: December 31, December 31, Line of credit $ 317.5 $ 219.5 Senior secured second lien notes 315.0 315.0 Unamortized debt issuance costs ( 2.2 ) ( 2.8 ) Debt discount ( 2.1 ) ( 3.0 ) Finance leases 38.8 19.6 Total debt and finance leases 667.0 548.3 Less: current maturities ( 7.7 ) ( 4.2 ) Long-term debt and finance leases, net $ 659.3 $ 544.1 As of December 31, 2023, the Company was in compliance with the financial covenants set forth in our debt agreements. Long term debt principal maturities, excluding finance leases which are disclosed in Note 10, Leases, are as follows: Year ending December 31, Amount 2024 $ — 2025 317.5 2026 315.0 2027 — 2028 — Thereafter — Total $ 632.5 Notes Payable – Non-Contingent Consideration The Company acquired the assets of Ecoverse on November 1, 2022. Pursuant to the asset purchase agreement, sellers are entitled to minimum additional cash payments of $ 6.0 million plus interest throughout a 5-year earn-out period. The liabilities below include the present value of these minimum cash payments using a market participant discount rate. The table below also includes non-contingent consideration amounts related to the Company's acquisitions of Peaklogix LLC, Ginop Sales, Inc. and Ault that are neither material individually nor in the aggregate. Balance Sheet Location December 31, December 31, Other current liabilities $ 7.4 $ 0.8 Other liabilities 6.5 6.2 Total $ 13.9 $ 7.0 See Note 14, Fair Value of Financial Instruments, and Note 15, Business Combinations, for further information.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
LEASES	NOTE 10 — LEASES The Company primarily has operating and finance leases for branch facilities, corporate office, and certain equipment which encompass both related party and third-party leases. The Company’s leases have remaining lease terms that range from less than one year to leases that mature through December 2037 and contain provisions to renew the leases for additional terms of up to 20 years . The Company leases and subleases certain lift trucks to customers under short and long-term operating lease agreements. The sublease income is included in "Rental revenues" on our Consolidated Statements of Operations. Sublease income below includes subleases of primarily facilities that are not included in Rental revenues due to being outside our normal business operations. The costs of the head lease for these subleases are included in Operating lease expense below. At December 31, 2023 and 2022, assets recorded under finance leases, net of accumulated depreciation were $ 37.6 million and $ 19.0 million, respectively. The assets are depreciated over the lesser of their related lease terms or estimated useful lives. The components of lease expense (including related party leases) were as follows: Year Ended December 31, 2023 2022 2021 Operating lease expense $ 27.0 $ 25.1 $ 23.3 Short-term lease expense 5.0 4.4 4.3 Low-value lease expense 0.9 0.5 0.6 Variable lease expense 9.0 6.6 1.5 Finance lease expense: Amortization of right-of-use assets 6.5 4.0 2.0 Interest on lease liabilities 2.6 1.0 0.4 Sublease income ( 0.3 ) ( 0.1 ) ( 0.1 ) Total lease expense $ 50.7 $ 41.5 $ 32.0 Other information related to leases is presented in the table below: Year Ended December 31, Supplemental Cash Flows Information 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 25.9 $ 24.2 $ 22.3 Operating cash flows for finance leases 2.6 1.0 0.4 Financing cash flows for finance leases 5.7 3.6 1.9 Non-cash right-of-use assets obtained in exchange for lease obligations: Operating leases 13.9 29.3 15.5 Finance leases 25.2 11.6 12.6 Weighted Average Remaining Lease Term (in years): Operating leases 8.9 9.3 6.9 Finance leases 4.7 4.5 4.7 Weighted Average Discount Rate (in %): Operating leases 10.3 10.0 6.3 Finance leases 8.5 7.6 5.6 Minimum future lease payments under non-cancellable operating and finance leases described above as of December 31, 2023 were as follows: Year ending December 31, Operating Leases Finance Leases 2024 $ 25.8 $ 10.6 2025 22.5 10.3 2026 19.2 9.5 2027 17.8 7.9 2028 16.1 5.9 Thereafter 80.0 2.7 Total future minimum lease payments 181.4 46.9 Less: imputed interest ( 65.9 ) ( 8.1 ) Total $ 115.5 $ 38.8 Balance Sheet Location December 31, 2023 December 31, 2022 Current portion of long-term debt $ 7.7 $ 4.2 Current operating lease liabilities 15.9 14.8 Finance lease obligations, net of current portion 31.1 15.4 Long-term operating lease liabilities, net of current portion 99.6 101.9 Total $ 154.3 $ 136.3 As of December 31, 2023, the Company had additional leases, substantially all real estate, that have not yet commenced with undiscounted lease payments of $ 3.3 million. These leases are expected to commence in 2024 with lease terms up to 15 years. The Company leases and subleases certain lift trucks to customers under long-term operating lease agreements which expire at various dates through 2028. Approximate minimum rentals receivable, none of which are recorded in our Consolidated Balance Sheets, under such leases for each of the next five years and thereafter are as follows: Year ending December 31, Amount 2024 $ 5.8 2025 2.8 2026 2.0 2027 1.4 2028 0.1 Thereafter — Total $ 12.1 Sublease income recorded in "Rental revenues" in our Consolidated Statements of Operations for the years ended December 31, 2023, 2022 and 2021 was $ 6.2 million, $ 7.0 million, and $ 7.5 million, respectively. For more information on our Rental revenues as a lessor, please refer to Note 3, Revenue Recognition. Future guaranteed purchase obligations under operating and sales-type leases to be paid by the Company for each of the next five years and thereafter are as follows: Year ending December 31, Amount 2024 $ 2.3 2025 1.7 2026 0.5 2027 0.1 2028 0.2 Thereafter — Total $ 4.8 See Note 11, Contingencies, for more information on certain contracts where the Company guarantees the performance of the third-party lessee.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 11 — CONTINGENCIES Guarantees As of December 31, 2023 and 2022, the Company was party to certain contracts in which we guarantee the performance of agreements with various third-party financial institutions. In the event of a default by a third-party lessee, the Company would be required to pay all or a portion of the remaining unpaid obligations as specified in the contract. The estimated exposure related to these guarantees was not material as of December 31, 2023 and 2022 . It is anticipated that the third parties will have the ability to repay the debt without the Company having to honor the guarantee; therefore, no amount has been accrued on the Consolidated Balance Sheets as of December 31, 2023 and 2022. Legal Proceedings During the years ended December 31, 2023 and 2022, various claims and lawsuits, incidental to the ordinary course of our business, were pending against the Company. In the opinion of management, after consultation with legal counsel, resolution of these matters, net of expected insurance proceeds, is not expected to have a material effect on the Company’s consolidated financial statements. Contractual Obligations The Company does not believe there are any off-balance sheet arrangements that have, or are reasonably likely to have, a material effect on the Company. As of December 31, 2023 and 2022 there was $ 9.0 million and $ 4.9 million , respectively, in outstanding letters of credit issued in the normal course of business. These letters of credit reduce our available borrowings under our ABL Facility.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 12 — INCOME TAXES The income tax provision (benefit) for the years ended December 31, 2023, 2022 and 2021 were calculated based upon the following components of income before income taxes: Year Ended December 31, 2023 2022 2021 U.S. income (loss) $ 0.7 $ 9.0 $ ( 17.2 ) Foreign income 1.8 1.6 — Total income (loss) before taxes $ 2.5 $ 10.6 $ ( 17.2 ) The income tax provision (benefit) for the years ended December 31, 2023, 2022 and 2021 consisted of the following: Year Ended December 31, 2023 2022 2021 Current U.S. federal $ 0.7 $ 1.9 $ — U.S. state 1.7 0.6 — Foreign 0.4 — — Deferred U.S. federal ( 5.2 ) ( 0.7 ) 2.8 U.S. state ( 5.3 ) ( 0.8 ) 0.8 Foreign 1.3 0.3 — Total income tax (benefit) expense $ ( 6.4 ) $ 1.3 $ 3.6 The reconciliation of the income tax expense (benefit) in the consolidated financial statements and the amount computed by applying the statutory U.S. federal and state related income tax rates to the pre-tax income (loss) before income taxes for the years ended December 31, 2023, 2022 and 2021 was as follows: Year Ended December 31, 2023 2022 2021 Income tax expense (benefit) at statutory U.S. federal rate $ 0.5 $ 2.2 $ ( 3.6 ) Income tax expense (benefit) at statutory U.S. states rate, net 0.2 ( 0.4 ) ( 0.6 ) Foreign rate differential 0.1 0.1 — Valuation allowance ( 8.8 ) 0.8 7.6 Fixed asset basis adjustments — ( 1.6 ) — Other 1.6 0.2 0.2 Total income tax (benefit) expense $ ( 6.4 ) $ 1.3 $ 3.6 The effective tax rate for the years ended December 31, 2023, 2022 and 2021 was ( 256.0 )% , 12.3 % and ( 20.9 )% , respectively. The effective income tax rate in 2023 was primarily related to $ 8.8 million discrete income tax benefit from the release of the valuation allowance of certain U.S. federal and state deferred tax assets during the third quarter. The effective tax rate in 2022 was primarily related to income tax expense associated with tax filing jurisdictions with no associated valuation allowance and 2021 was primarily due to the impact of the establishment of the valuation allowance against the deferred tax asset. The Company intends to indefinitely reinvest the undistributed earnings of our foreign subsidiaries and expect future U.S. cash generation to be sufficient to meet future U.S. cash needs. The undistributed earnings of foreign subsidiaries and related unrecognized deferred tax liability are not material as of December 31, 2023 and 2022. If the Company determines that all or a portion of such foreign earnings are no longer indefinitely reinvested, the Company may be subject to foreign withholding taxes and U.S. state income taxes, beyond the one-time transition tax. The components of deferred tax assets and liabilities as of December 31, 2023 and 2022 were as follows: Year Ended December 31, 2023 2022 Deferred Tax Assets Net operating loss carryforwards $ 41.3 $ 8.3 Deferred revenue 0.6 0.7 Accounts receivable and inventories 6.6 6.0 Goodwill & intangibles — 1.8 Accrued liabilities 4.8 6.0 Lease liability 39.1 35.2 Interest limitation carryforward 20.5 3.7 Deferred payroll taxes and other 2.0 1.8 Gross deferred tax assets 114.9 63.5 Valuation allowance — ( 8.8 ) Deferred tax assets 114.9 54.7 Deferred Tax Liabilities Property and equipment ( 73.5 ) ( 25.3 ) Goodwill & intangibles ( 2.2 ) — Prepaid expenses ( 1.4 ) ( 1.5 ) Lease right-of-use assets ( 37.6 ) ( 34.3 ) Gross deferred tax liabilities ( 114.7 ) ( 61.1 ) Deferred tax assets (liabilities), net $ 0.2 $ ( 6.4 ) For the years ended December 31, 2023 and 2022, the net change in the valuation allowance was a decrease of $ 8.8 million and increase of $ 1.2 million, respectively. The valuation allowance decreased in 2023 due to the aforementioned release of the valuation allowance. We will continue to monitor the need for a valuation allowance against our deferred tax assets on a quarterly basis. The increase in 2022 was due to the increases in deferred tax assets primarily related to interest limitation carryforward and accrued liabilities. The Company reviews the realizability of our deferred tax asset on a quarterly basis, or whenever events or changes in circumstances indicate that a review is required. In determining the requirement for a valuation allowance, historical and projected financial results are considered, along with any other positive or negative evidence. All of the factors that the Company considers in evaluating whether and when to establish or release all or a portion of the deferred tax asset valuation allowance involves significant judgment. As of December 31, 2023 and 2022, the Company had federal net operating tax loss carryforwards of approximately $ 194.6 million and $ 30.5 million, respectively, primarily due to taking bonus depreciation. These federal net operating tax loss carryforwards may be carried forward indefinitely and are eligible to offset 80 % of future taxable income. The Company also has state net operating loss carryforwards of approximately $ 6.0 million with varying carryforward expiration periods ranging from 2040 to 2041. The Company has open tax years from 2020 through 2023 for U.S. federal and Canadian income taxes. The Company also files tax returns in numerous states for which various tax years are subject to examination and currently involved in audits. Typically states remain open for three years from filing, with the majority of the open years being 2020 to 2023.

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock Based Compensation	NOTE 13 — STOCK BASED COMPENSATION The Company’s plan is to have broad-based, long-term programs intended to attract and retain talented employees and align stockholder and employee interests. We calculated the fair value of the restricted stock units ("RSUs") and performance stock units ("PSUs") at grant date based on the closing market price of our common stock at the date of grant. The compensation expense is recognized on a straight-line basis over the requisite service period of the award. The number of PSUs granted depends on the Company's achievement of target performance goals, which may range from 0 % to 200 % of the target award amount. The PSUs vest ratably over three years including the one-year performance period . Upon vesting, each stock award is exchangeable for one share of the Company's common stock, with accrued dividends. The Company recognized total stock-based compensation expense for PSUs and RSUs of $ 4.1 million, $ 2.7 million and $ 1.2 million for the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023, the total unrecognized compensation expense related to the non-vested portion of the Company's RSUs was $ 1.4 million , which is expected to be recognized over a weighted average period of 0.6 years. As of December 31, 2023, the total unrecognized compensation expense related to the non-vested portion of the Company's PSUs was $ 4.3 million , which is expected to be recognized over a weighted average period of 0.9 years. The following table shows the number of stock awards that were granted, vested, and forfeited during 2023: Restricted Stock Units Performance Stock Units Number of units Weighted average grant date fair value Number of units Weighted average grant date fair value Unvested units as of December 31, 2022 288,266 $ 10.24 424,538 $ 12.14 Granted 96,376 15.65 179,199 15.85 Vested - issued ( 121,787 ) 10.01 ( 53,790 ) 12.14 Vested - unissued ( 32,281 ) 12.79 — — Forfeited — — ( 6,525 ) 13.54 Unvested units as of December 31, 2023 230,574 $ 12.27 543,422 $ 13.37 Employee Stock Purchase Plan On June 8, 2023 the Company filed Form S-8 to register 325,000 common stock shares, the total shares reserved for the ESPP. The Company then opened enrollment for the first offering period that started July 1, 2023 and continues through December 31, 2023. There are two six month offering periods each year starting January 1 and July 1 with the purchase date on the last business day of each offering period. Under the ESPP, eligible employees (as defined in the ESPP) can purchase the Company’s common stock through accumulated payroll deductions. Eligible employees may purchase the Company’s common stock at 85 % of the lower of the fair market value of the Company’s common stock on the first or last business day of each six month offering period. Eligible employees may contribute up to 10 % of their eligible compensation. Under the ESPP, a participant may not accrue rights to purchase more than $ 25,000 worth of the Company’s common stock for each calendar year in which such right is outstanding. Employees who elect to participate in the ESPP commence payroll withholdings that accumulate through the end of the respective period. In accordance with the guidance in Topic 718-50 – Compensation – Stock Compensation , the ability to purchase shares of the Company’s common stock for 85 % of the lower of the price on the first day of the offering period or the last day of the offering period (i.e. the purchase date) represents an option and, therefore, the ESPP is a compensatory plan under this guidance. Accordingly, stock-based compensation expense is determined based on the option’s grant-date fair value as estimated by applying the Black Scholes option-pricing model and is recognized over the withholding period. The stock-based compensation expense related to the ESPP recognized during the year ended December 31, 2023 was not material and no compensation expense was recognized in any prior period reported. ESPP employee payroll contributions accrued as of December 31, 2023 totaled $ 0.9 million and are included within "Accrued expenses" in the Consolidated Balance Sheet. There was no accrual as of December 31, 2022 as the ESPP enrollment had not yet commenced. Cash withheld via employee payroll deductions is presented in financing activities within "Other financing activities" on the Consolidated Statement of Cash Flows.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 14 — FAIR VALUE OF FINANCIAL INSTRUMENTS The carrying value of financial instruments reported in the accompanying Consolidated Balance Sheets for "Cash", "Accounts receivable, net", "Accounts payable", "Accrued expenses" and "Other current liabilities" approximate fair value due to the immediate or short-term nature or maturity of these financial instruments. The following is a description of the valuation methodologies used for assets and liabilities measured at fair value on a recurring basis: Debt Instruments The carrying value of the Company's debt instruments vary from their fair values. The fair values were determined by reference to transacted prices and quotes for these instruments and upon current borrowing rates with similar maturities, which are Level 2 fair value inputs. The estimated fair value, as well as the carrying value, of the Company's debt instruments as of December 31, 2023 and December 31, 2022 are shown below: December 31, 2023 December 31, 2022 Estimated aggregate fair value $ 655.6 $ 521.0 Aggregate carrying value (1) 671.3 554.1 (1) Total debt excluding the impact of unamortized debt discount and debt issuance costs. Contingent Consideration The contingent consideration liability represents the fair value of the future earn-outs that the Company may be required to pay in conjunction with certain acquisitions upon the achievement of performance milestones. The earn-outs for the acquisitions are measured at fair value in each reporting period, based on Level 3 inputs, with any change to the fair value recorded in the Consolidated Statements of Operations. The following table sets forth the Company’s contingent consideration liabilities recorded at fair value as of December 31, 2023 and December 31, 2022, and their presentation on the Consolidated Balance Sheets: Level 3 Balance Sheet Location December 31, 2023 December 31, 2022 Other current liabilities $ 0.4 $ 1.8 Other liabilities 4.2 8.0 The following is a summary of changes to Level 3 instruments for the years ended December 31, 2023 and 2022: Contingent Consideration Balance, December 31, 2021 $ 2.8 Acquisitions 6.9 Changes in fair value 0.5 Payments ( 0.4 ) Balance, December 31, 2022 $ 9.8 Acquisitions — Changes in fair value 1.1 Payments ( 1.2 ) Non-contingent reclass ( 5.1 ) Balance, December 31, 2023 $ 4.6 Derivative Financial Instruments In the normal course of business, we are exposed to market risk associated with changes in foreign currency exchange rates, commodity prices and interest rates. To manage a portion of these inherent risks, we may purchase certain types of derivative financial instruments based on management's judgment of the trade-off between risk, opportunity and cost. We do not hold or issue derivative financial instruments for trading or speculative purposes. The impact of hedge ineffectiveness for those derivatives where hedge accounting is applied was not significant in any of the periods presented. The Company has determined the fair value of all our derivative contracts are based on Level 2 inputs such as quoted market prices for similar instruments from third parties and inputs other than quoted prices that are observable (forward curves, implied volatility, counterparty credit risks). The Company reviews counterparty credit risks at regular intervals and has not experienced any significant credit loss as a result of counterparty nonperformance in the past. Currency Derivative Contracts Starting in 2022, from time to time we used foreign currency forward contracts to reduce the effects of fluctuations in exchange rates relating to foreign currencies for certain inventory purchases. The foreign currency forward contracts expired in August 2023 and the realized gain on these contracts for the years ended December 31, 2023 and 2022 was not material. Interest Rate Cap During November 2022, we entered into an interest rate cap to protect cash flows from the risks associated with interest payments from interest rate increases on variable rate debt. The interest rate cap is a derivative instrument designated as a cash flow hedge under Topic 815 – Derivatives and Hedging . The premiums are recognized in the Consolidated Statements of Operations when paid from the effective date through the termination date. All changes in the fair value of the interest rate cap are deferred in AOCI and subsequently recognized in earnings in the period when the derivative contract settles. The unrealized gain on the interest rate cap for the years ended December 31, 2023 and 2022 is disclosed in the Consolidated Statements of Other Comprehensive Income. Fuel Purchase Contracts During June 2023, we entered into fixed price swap contracts to purchase gasoline and diesel fuel to protect cash flows from the risks associated with fluctuations in fuel prices on a portion of anticipated future purchases. The fixed price swap contracts to purchase gasoline and diesel fuel are derivative instruments not designated as hedging instruments under Topic 815. The following table summarizes the maturity dates, unit of measure and notional value for the derivative instruments as of December 31, 2023: Maturity Date of Derivatives Currency / Unit of Measure Notional Value Interest rate cap ( December 2025 ) One-month SOFR $ 200.0 Fuel swaps ( various through June 2025 ) Gallons 2.5 The following table sets forth the location and fair values of the Company’s derivative financial instruments as of December 31, 2023 and 2022 on the Consolidated Balance Sheets: Asset Derivatives Liability Derivatives Derivatives designated as hedges Balance Sheet location December 31, 2023 December 31, 2022 Balance Sheet location December 31, 2023 December 31, 2022 Interest rate cap - current Prepaid expenses and other current assets $ — $ — Other current liabilities $ 1.6 $ 1.6 Interest rate cap - long-term Other assets 1.7 3.5 Other liabilities 1.6 3.4 Derivatives not designated as hedge Foreign currency forwards Prepaid expenses and other current assets — — Other current liabilities — 0.2

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2023
Business Combinations [Abstract]
BUSINESS COMBINATIONS	NOTE 15 — BUSINESS COMBINATIONS The following table summarizes the net assets acquired from the 2023 acquisitions: Burris Ault Cash $ — $ 0.9 Accounts receivable 1.0 6.9 Inventories 8.7 28.9 Prepaid expenses and other current assets 0.1 0.7 Rental fleet 10.8 — Property and equipment 0.6 1.2 Operating lease right-of-use assets 1.7 1.0 Other intangible assets — 13.8 Goodwill — 5.4 Other assets — 0.3 Total assets $ 22.9 $ 59.1 Floor plan payable – new equipment $ ( 2.7 ) $ ( 6.5 ) Accounts payable ( 0.8 ) ( 8.5 ) Customer deposits — ( 0.1 ) Accrued expenses ( 1.0 ) ( 1.5 ) Current operating lease liabilities ( 0.3 ) ( 0.1 ) Current deferred revenue — ( 0.6 ) Long-term operating lease liabilities ( 1.4 ) ( 0.9 ) Deferred tax liability — ( 2.9 ) Total liabilities $ ( 6.2 ) $ ( 21.1 ) Net assets acquired $ 16.7 $ 38.0 Net assets acquired net of cash $ 16.7 $ 37.1 Burris On October 13, 2023, Alta closed its acquisition of Burris, a privately held premier distributor of market leading construction and turf equipment with three locations in Illinois. The purchase price on the asset-structured acquisition was $ 16.7 million in cash paid, which includes $ 2.7 million of excess net working capital. The estimated fair values of assets acquired and liabilities assumed are provisional with the fair value of inventories and rental fleet being the primary balances remaining subject to change. Ault On November 1, 2023, Alta acquired the stock of Ault, a privately held Canadian crushing and screening equipment distributor with locations in Ontario and Quebec provinces for a total purchase price of $ 38.0 million, consisting of $ 27.5 million cash at close, expected excess working capital true up of $ 2.2 million, a $ 2.0 million seller note to be paid annually over three years, and $ 6.3 million fair value of Alta’s common stock, equating to 819,398 shares at agreed upon $ 13 per share, vesting annually over a five-year period. Both Burris and Ault are reported within our Construction Equipment segment. The estimated fair values of assets acquired and liabilities assumed are provisional with working capital, tax-related and purchase price allocation adjustments remaining open. In 2023, the Company also purchased the assets of M&G Materials Handling Co. ("M&G") and Battery Shop of New England Inc. ("BSNE") for a combined purchase price of $ 2.6 million, net of cash acquired. These acquisitions, which took place in our Material Handling segment, are not material individually or in the aggregate. All of these acquisitions were accounted for as business combinations and the Company expects to finalize the valuations and complete the purchase price allocations as soon as practical but no later than one year from each respective acquisition date. Acquisition-related costs for these acquisitions were immaterial and have been expensed as incurred in operating expenses. The following table summarizes the net assets acquired by segment from the 2022 acquisitions: Material Handling Master Distribution Total Cash $ 2.3 $ 0.3 $ 2.6 Accounts receivable 9.6 9.6 19.2 Inventories 7.6 12.3 19.9 Prepaid expenses and other current assets 0.1 0.8 0.9 Rental fleet 22.7 — 22.7 Property and equipment 2.0 0.6 2.6 Operating lease right-of-use assets 2.2 1.6 3.8 Other intangible assets 1.4 27.8 29.2 Goodwill 2.3 18.3 20.6 Total assets $ 50.2 $ 71.3 $ 121.5 Accounts payable $ ( 1.5 ) $ ( 8.3 ) $ ( 9.8 ) Customer deposits — ( 2.2 ) ( 2.2 ) Accrued expenses ( 1.6 ) ( 0.2 ) ( 1.8 ) Current operating lease liabilities ( 0.8 ) ( 0.1 ) ( 0.9 ) Current deferred revenue ( 1.2 ) — ( 1.2 ) Other current liabilities — ( 0.9 ) ( 0.9 ) Long-term operating lease liabilities ( 1.4 ) ( 1.5 ) ( 2.9 ) Deferred tax liability ( 2.8 ) — ( 2.8 ) Total liabilities ( 9.3 ) ( 13.2 ) ( 22.5 ) Net assets acquired 40.9 58.1 99.0 Net assets acquired net of cash $ 38.6 $ 57.8 $ 96.4 Ecoverse On November 1, 2022 the Company acquired Ecoverse, a privately held distributor of environmental processing equipment headquartered in Avon, Ohio, with 15 sub dealers throughout North America, for a total purchase price of $ 58.1 million. YIT On July 29, 2022 the Company acquired the stock of YIT, a privately held Canadian equipment distributor with locations in Ontario and Quebec, for a total purchase price of $ 40.6 million. Both of these acquisitions were accounted for as business combinations and the goodwill is tax deductible. During 2023 we primarily had working capital and tax-related purchase price accounting adjustments for our 2022 acquisitions which were not significant individually or in the aggregate. See the Consolidated Statements of Cash Flows for the total cash outflow in "Expenditures for acquisitions, net of cash acquired" for the net current year impact of the 2022 acquisitions purchase price accounting adjustments and current year acquisitions.

Union Pension Plan

Union Pension Plan	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
UNION PENSION PLAN	NOTE 16 — UNION PENSION PLAN The Company contributes to various multiemployer defined benefit pension plans under collective bargaining agreements that cover certain union represented employees. These multiemployer plans generally provide retirement benefits to participants based on their service to contributing employers. The benefits are paid from assets held in trust for that purpose. Plan trustees typically are responsible for determining the level of benefits to be provided to participants as well as the investment of the assets and plan administration. Trustees are appointed in equal number by employers and the unions that are parties to the relevant collective bargaining agreements. Expense is recognized in connection with these plans as contributions are funded, in accordance with U.S. GAAP. The risks of participating in such plans are different from the risks of single-employer plans, in the following respects: (a) Assets contributed to a multiemployer plan by one employer may be used to provide benefits to employees of other participating employers; (b) If a participating employer ceases to contribute to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers; and (c) If the Company ceases to have a continuing obligation to contribute to the multiemployer plan in which the Company had been a contributing employer, the Company may be required to pay to the plan an amount based on the underfunded status of the plan and on the history of the Company’s participation in the plan prior to the cessation of our obligation to contribute. The Company’s participation in multiemployer plans for the annual periods ended December 31, 2023, 2022 and 2021 is outlined in the table below. For each plan that is individually significant to the Company, the following information is provided: • The “Pension Protection Act Zone Status” available is for plan years that ended in 2023 and 2022. The zone status is based on information provided to the Company and other participating employers by each plan and is certified by the plan’s actuary. This indicates the funded status of the plan with the status indicated by the colors of green, yellow and red with green being the most funded and red being the least funded. • The “FIP/RP Status Pending/Implemented” column indicates whether a Funding Improvement Plan, as required under the U.S. Internal Revenue Code (the "Code") to be adopted by plans in the “yellow” zone, or a Rehabilitation Plan, as required under the Code to be adopted by plans in the “red” zone, is pending or has been implemented as of the end of the plan year. • The “Surcharge Imposed” column indicates whether a surcharge was paid during the most recent annual period presented for the Company’s contributions to any plan in the red zone in accordance with the requirements of the Code. • The last column lists the expiration dates of the collective bargaining agreements with the Company. Certain plans have been aggregated in the All Other Multiemployer Pension Plans line in the following table, as the contributions to each of these plans are not individually material. None of our collective bargaining agreements require that a minimum contribution be made to these plans. There are no plans where the amount contributed by the Company represents more than 5 % of the total contributions to the plan for the years ended December 31, 2023, 2022 and 2021. Multiple Employer Pension Plans: Pension Fund EIN Pension Protection Act Zone Status as of December 31, FIP/RP Contributions by Company for the year ended Surcharge Expiration Date of Collective Bargaining Agreement 2023 2022 2023 2022 2021 Midwest Operating Engineers 36-6140097 Green 3/31/2023 Green 3/31/2022 None $ 2.8 $ 2.4 $ 2.2 No 5/31/2024 Operating Engineers Local 38-1900637 Red 4/30/2023 Red 4/30/2022 Implemented 1.6 1.2 0.9 Yes 9/30/2024 All Other Multiemployer Pension Plans (1) 1.5 1.2 0.8 Various Total $ 5.9 $ 4.8 $ 3.9 (1) All Other Multiemployer Pension Plans includes 12 plans, none of which are individually significant when considering contributions to the plan, severity of the underfunded status or other factors.

Segments

Segments	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
SEGMENTS	NOTE 17 — SEGMENTS The Company has three reportable segments: Material Handling, Construction Equipment, and Master Distribution. All other business activities, including electric vehicles and corporate are included in "Corporate and Other". The Company’s segments are determined based on management structure, which is organized based on types of products and services sold, as described in the following paragraphs. The operating results for each segment are reported separately to the Company’s CEO to make decisions regarding the allocation of resources, to assess the Company’s operating performance and to make strategic decisions. The Material Handling segment is principally engaged in operations related to the sale, service, and rental of lift trucks and other material handling equipment in Michigan, Illinois, Indiana, New York (including New York City), Virginia and the New England region of the U.S. as well as Ontario and Quebec provinces of Canada. The Construction Equipment segment is principally engaged in operations related to the sale, service, and rental of construction equipment in Michigan, Illinois, Indiana, Ohio, New York (excluding New York City), Florida and the New England region of the U.S. as well as Ontario and Quebec provinces of Canada. As of December 31, 2023, the Construction Equipment segment included the Burris and Ault acquisitions and their related results since their acquisitions during the fourth quarter. The Company began separately reporting Master Distribution as its own segment in the first quarter of 2023. The Master Distribution segment is principally engaged in large-scale equipment distribution with sub dealers throughout North America related to environmental processing equipment. The Company’s identified assets by reportable segment below, as of December 31, 2022, has been recast to reflect the change in segment presentation. The Company retains various unallocated expense items at the general corporate level, which the Company refers to as “Corporate and Other” in the table below. Corporate and Other holds corporate debt and has minor transactional activity all together including Alta e-mobility (e.g., commercial electric vehicles) revenues and costs. Corporate and Other incurs expenses associated with compensation (including stock-based compensation) of our directors, corporate officers and members of our shared-services team, consulting and legal fees related to acquisitions and capital raising activities, corporate governance and compliance related matters, certain corporate development related expenses, interest expense associated with original issue discounts and deferred financing cost related to previous capital raises and a portion of the Company’s income tax provision. There is also intercompany elimination activity presented within the Corporate and Other segment. The following tables present the Company’s results of operations by reportable segment for the years ended December 31, 2023, 2022 and 2021: Year Ended December 31, 2023 Material Construction Master Distribution Corporate and Other Total New and used equipment sales $ 367.6 $ 597.9 $ 72.5 $ ( 12.1 ) $ 1,025.9 Parts sales 99.5 170.1 9.8 ( 1.1 ) 278.3 Service revenues 132.8 108.2 0.3 — 241.3 Rental revenues 76.4 124.8 1.2 — 202.4 Rental equipment sales 5.2 123.7 — — 128.9 Total revenues $ 681.5 $ 1,124.7 $ 83.8 $ ( 13.2 ) $ 1,876.8 Interest expense 18.1 33.1 3.4 2.4 57.0 Depreciation and amortization 34.9 92.5 4.4 0.8 132.6 Income (loss) before taxes 14.7 7.0 4.1 ( 23.3 ) 2.5 Year Ended December 31, 2022 Material Construction Master Distribution Corporate and Other Total New and used equipment sales $ 305.2 $ 508.2 $ 5.0 $ ( 1.2 ) $ 817.2 Parts sales 84.4 149.0 1.6 ( 0.2 ) 234.8 Service revenues 112.1 94.4 0.1 — 206.6 Rental revenues 63.5 116.6 — — 180.1 Rental equipment sales 5.5 127.6 — — 133.1 Total revenues $ 570.7 $ 995.8 $ 6.7 $ ( 1.4 ) $ 1,571.8 Interest expense 11.7 17.7 0.5 1.9 31.8 Depreciation and amortization 26.8 84.6 0.6 — 112.0 Income (loss) before taxes 17.1 14.2 ( 1.5 ) ( 19.2 ) 10.6 Year Ended December 31, 2021 Material Construction Corporate and Other Total New and used equipment sales $ 258.3 $ 310.5 $ — $ 568.8 Parts sales 65.4 113.1 — 178.5 Service revenue 94.6 70.9 — 165.5 Rental revenue 48.4 107.1 — 155.5 Rental equipment sales 0.8 143.7 — 144.5 Total revenues $ 467.5 $ 745.3 $ — $ 1,212.8 Interest expense 8.2 13.9 1.9 24.0 Depreciation and amortization 19.3 76.5 — 95.8 Income (loss) before taxes 10.2 ( 2.9 ) ( 24.5 ) ( 17.2 ) The following table presents the Company’s identified assets by reportable segment as of December 31, 2023 and 2022: December 31, December 31, Segment assets: Material Handling $ 474.3 $ 416.3 Construction Equipment 947.6 775.5 Master Distribution 85.9 77.6 Corporate and Other 63.1 21.2 Total assets $ 1,570.9 $ 1,290.6

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 18 — EAR NINGS PER SHARE Basic earnings per share ("EPS") is calculated by dividing net income by the weighted-average number of common shares outstanding during the period and includes vested, unissued RSUs and ESPP shares and earned, unissued share consideration related to the Ecoverse acquisition. Diluted EPS is calculated by dividing net income by the weighted-average number of common shares outstanding, after giving effect to all potential dilutive common shares outstanding during the period. We include all common share equivalents granted under our stock-based compensation plan which remain unvested and shares used as consideration in the Ault acquisition which remain unissued ("dilutive securities"), in the number of shares outstanding for our diluted EPS calculations using the treasury method. Basic and diluted EPS for the years ended December 31, 2023, 2022 and 2021 were calculated as follows: Year Ended December 31, 2023 2022 2021 Basic net income (loss) per share Net income (loss) available to common stockholders $ 5.9 $ 6.3 $ ( 23.4 ) Basic weighted average common shares outstanding 32,447,754 32,099,247 31,706,329 Basic net income (loss) per share of common stock $ 0.18 $ 0.20 $ ( 0.74 ) Diluted income (loss) per share Net income (loss) available to common stockholders $ 5.9 $ 6.3 $ ( 23.4 ) Basic weighted average common shares outstanding 32,447,754 32,099,247 31,706,329 Effect of dilutive securities Effect of dilutive securities 429,753 202,416 — Diluted weighted average common shares outstanding 32,877,507 32,301,663 31,706,329 Diluted net income (loss) per share of common stock $ 0.18 $ 0.20 $ ( 0.74 ) Securities excluded from the calculation of diluted loss per share was approximately 174,000 for the year ended December 31, 2021 because the inclusion of such securities in the calculation would have been anti-dilutive.

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts	Schedule II - Valuation and Qualifying Accounts for the Years Ended December 31, 2023, 2022 and 2021: Changes Balance at Beginning of Period Charged to Expense Other (1)(2) Deductions from Reserves Balance at End of Period Receivables allowances: Year ended December 31, 2023 $ 13.0 $ 7.2 $ 0.5 $ ( 8.3 ) $ 12.4 Year ended December 31, 2022 10.7 5.0 — ( 2.7 ) 13.0 Year ended December 31, 2021 7.1 4.2 — ( 0.6 ) 10.7 Tax valuation allowances: Year ended December 31, 2023 $ 8.8 $ ( 8.4 ) $ ( 0.4 ) $ — $ — Year ended December 31, 2022 7.6 0.8 0.4 — 8.8 Year ended December 31, 2021 — 7.6 — — 7.6 (1) Other for receivables includes changes associated with adoption of Current Expected Credit Loss model as of January 1, 2023. (2) Other for tax valuation allowance includes changes associated with change in valuation allowance from OCI and prior year adjustments

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are based on assumptions that we believe are reasonable under the circumstances. Due to the inherent uncertainty involved with estimates, actual results may differ. Refer to Critical Accounting Policies and Estimates within Item 7 for more information on items in the consolidated financial statements we consider require significant estimation or judgment.
Inventory Valuation	Inventory Valuation Inventories are stated at the lower of cost or net realizable value. Cost is determined by specific identification for equipment and a weighted-average method for parts. Net realizable value is the estimated selling price in the ordinary course of business less reasonably predictable costs of completion, disposal, and transportation. Included in new and used inventory is equipment that is currently on short-term lease to customers. The Company mainly transfers equipment from inventory into rental fleet based on management’s determination of the highest and best use of the equipment. This inventory is carried at the cost of the equipment less any accumulated depreciation.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost and depreciated over their estimated useful lives using the straight-line method, excluding certain categories of our rental equipment, specifically in what we determine to be rent-to-sell equipment categories. The rent-to-sell categories are depreciated on a percentage of rental revenues realized on the asset, or a unit of activity method of depreciation. The Company believes that the unit of activity method on these categories of equipment more appropriately matches depreciation expense to revenues versus a straight-line methodology, as asset utilization can vary month to month especially in our northern geographies where seasonality is a factor. In rent-to-rent product categories, where asset utilization is more stable, like in our Material Handling segment, we use a straight-line depreciation methodology, where estimated useful lives can range from five to ten years. The Company capitalizes expenditures for equipment, leasehold improvements, and rental fleet. Expenditures for repairs, maintenance, and minor renewals are expensed as incurred. Expenditures for betterments and major renewals that significantly extend the useful life of the asset are capitalized in the period incurred. When equipment is sold or otherwise disposed of, the cost and related accumulated depreciation are removed from the Consolidated Balance Sheets, with any resulting gain or loss being reflected in income from operations.
Intangible Assets	Intangible Assets Intangible assets with a finite life consist of customer and supplier relationships, non-compete agreements, tradenames, and internal use software and are carried at cost less accumulated amortization. During the fourth quarter of 2021, the Company shortened the remaining useful lives of some tradename intangible assets resulting in accelerated amortization in the fourth quarter of 2021 and thereafter given our rebranding efforts on certain acquisitions. The estimated useful lives of the finite-lived intangible assets are as follows: Estimated Customer and supplier relationships 9 – 10 years Other intangibles 2 – 5 years
Evaluation of Goodwill Impairment	Evaluation of Goodwill Impairment Goodwill is tested for impairment annually or more frequently if an event or circumstance indicates that an impairment loss may have been incurred. Application of the goodwill impairment test requires judgment, including: the identification of reporting units; assignment of assets and liabilities to reporting units; assignment of goodwill to reporting units; and determination of the fair value of each reporting unit. We estimate the fair value of our reporting units (which are our reportable segments) using a discounted cash flow methodology under an income approach, corroborated with the results of a market approach which analyzes the enterprise value (market capitalization plus interest-bearing liabilities) and operating metrics (e.g., earnings before interest, taxes, depreciation and amortization expenses) of companies engaged in the same or similar line of business that we deem comparable to our business and compare those metrics to those of the Company. We make judgments regarding the comparability of publicly traded companies engaged in similar businesses and base our judgments on factors such as size, growth rates, profitability, business model, and risk. We believe the combination of these valuation approaches yields the most appropriate evidence of fair value. Inherent in our preparation of cash flow projections are assumptions and estimates derived from a review of our operating results, business plans, expected growth rates, cost of capital, and tax rates. We also make certain forecasts about future economic conditions, interest rates, and other market data. Many of the factors used in assessing fair value are outside the control of management, and these assumptions and estimates may change in future periods. Changes in assumptions or estimates could materially affect the estimate of the fair value of a reporting unit, and therefore could affect the likelihood and amount of potential impairment. Financial Accounting Standards Board ("FASB") guidance permits entities to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the quantitative analysis. While the Company does not believe a qualitative assessment would have triggered the required quantitative assessment, the Company bypassed the optional qualitative assessments for each reporting unit and performed quantitative assessments at October 1, 2023, 2022 and 2021. We review goodwill for impairment by comparing the fair value of each of our reporting units' net assets to their respective carrying value. If the carrying value of a reporting unit’s net assets is less than its fair value, we do not recognize an impairment. If the carrying amount of a reporting unit’s net assets is greater than its fair value, we recognize a goodwill impairment for the amount of the excess of the net assets over the fair value, not to exceed the book value of goodwill. Our annual goodwill impairment testing conducted as of October 1, 2023, 2022 and 2021 indicated that all our reporting units had estimated fair values which exceeded their respective carrying amounts. Based on the results of the tests, there was no goodwill impairment.
Evaluation of Long-lived Asset Impairment (excluding goodwill)	Evaluation of Long-lived Asset Impairment (excluding goodwill) Our long-lived assets principally consist of rental equipment, leases, property and equipment, and other intangible assets excluding goodwill. We review our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In reviewing for impairment, we first complete a qualitative assessment at the lowest level of identifiable cash flows for our long-lived assets (excluding goodwill). If there are indicators of impairment from the qualitative assessment, a quantitative analysis is performed where the carrying value of such assets is compared to the undiscounted future pre-tax cash flows expected from the use of the assets and their eventual disposition. If such cash flows are not sufficient to support the asset’s (or asset group’s) recorded value, an impairment loss may be recognized if the estimated fair value of the asset (or asset group) is less than the respective carrying value. The determination of future cash flows as well as the estimated fair value of long-lived and intangible assets involves significant estimates and judgment on the part of management. Our estimates and assumptions may prove to be inaccurate due to factors such as changes in economic conditions, expected asset utilization levels, our business activity levels or other changing circumstances. In support of our review for indicators of impairment, we perform a review of our long-lived assets at the lowest level of identifiable cash flows to conclude whether indicators of impairment exist associated with our long-lived assets, including our rental and non-rental equipment and right-of-use assets. Based on our most recently completed qualitative assessment in the fourth quarter 2023 , there were no indications of impairment associated with our long-lived assets.
Business Combinations	Business Combinations We allocate the fair value of purchase consideration to the tangible and intangible assets acquired and liabilities assumed, based on their estimated fair values on the acquisition date. Management develops estimates based on assumptions as part of the purchase price allocation process to value the assets acquired and liabilities assumed as of the acquisition date. These estimates are inherently uncertain and are subject to refinement when additional information is obtained during the measurement period. As a result, during the purchase price measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. We recognize a bargain purchase gain within "Other (expense) income, net", in the Consolidated Statements of Operations if the net fair value of the identifiable assets acquired and the liabilities assumed is in excess of the fair value of the total purchase consideration and any noncontrolling interests.
Revenue Recognition	Revenue Recognition Revenues are recognized when control of promised goods or services is transferred to customers in an amount that reflects the consideration the business expects to be entitled in exchange for those goods or services. Control is transferred when the customer has the ability to direct the use of and obtain the benefits from the goods and/or services. The Company’s revenues accounted for under Topic 606 - Revenues from Contracts with Customers ("Topic 606") generally have the transaction price fixed and clearly stated in the customer contracts. Substantially all the Company’s sales agreements contain performance obligations satisfied at a point in time, rather than over time, when control is transferred to the customer, generally at the time of delivery to, or pick-up by, the customer. The revenues recognized over time are primarily project-based and maintenance contract revenues where revenue is recognized as the performance obligations are satisfied over time using the cost-to-cost input method, based on contract costs incurred to date to total estimated contract costs. For contracts with multiple performance obligations, the Company allocates sales prices to each distinct performance obligation based on the observable selling price and recognizes revenues as each distinct performance obligation is met. Payment terms vary by the type and location of the customer and the products or services offered. Generally, the time between when revenue is recognized and payment is due is not significant. The Company does not evaluate whether the selling price includes a financing interest component for contracts that are less than a year or if payment is expected to be received less than a year after the good or service has been provided. Sales and other taxes collected from customers and remitted to government authorities are accounted for on a net basis and, therefore, are excluded from revenue. Shipping and handling costs are treated as fulfillment costs and are included in cost of revenues. The Company’s revenues do not include material amounts of variable consideration under Topic 606. Contracts with customers do not generally result in significant obligations associated with returns, refunds, or warranties. See Note 3, Revenue Recognition, for more information.
Leases	Leases The Company's leases are accounted for under Topic 842 - Leases ("Topic 842"). The Company as Lessee: We determine whether an arrangement is a lease at the inception of the arrangement based on the terms and conditions in the contract. A contract contains a lease if there is an identified asset and we have the right to control the asset for a period of time in exchange for consideration. Lease right-of-use (“ROU”) assets represent our right to use an individual asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Lease ROU assets and liabilities are recognized at the commencement date for leases with terms greater than 12 months and meet our capitalization threshold based upon the present value of the remaining future minimum lease payments over the lease term. As most of our leases do not provide the lessor’s implicit rate, we use our incremental borrowing rate (“IBR”) at the commencement date in determining the present value of future lease payments by utilizing a fully collateralized rate for a fully amortizing loan with the same term as the lease. The Company applies the portfolio approach for the IBR on our leases based upon similar lease term and payments. The lease ROU asset also includes lease payments made in advance of lease commencement and excludes lease incentives. Operating lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components. For real estate leases and all equipment leases excluding vehicles, these components are accounted for as a single lease component. For vehicle leases, these components are accounted for separately. Variable lease expenses include payments based upon changes in a rate or index, such as consumer price indexes, variable payments on non-lease components related to leases that we account for as a single lease component, and charges fluctuating based on the usage of the leased asset. Short-term lease expenses include leases with terms at lease commencement of 12 months or less and no purchase option reasonably certain to be exercised, including leases with a duration of one month or less. Low-value lease expense includes leases with terms at lease commencement of greater than 12 months but do not meet our capitalization threshold, which is consistent with our property and equipment capitalization threshold. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants; however, there are certain lease agreements that include guaranteed purchase obligations for lift trucks. A ROU asset is subject to the same impairment guidance as assets categorized as property and equipment. As such, any impairment loss on ROU assets is presented in the same manner as an impairment loss recognized on other long-lived assets. The Company reviewed our lease ROU assets for impairment and determined that none of the assets were impaired during the years ended December 31, 2023, 2022 and 2021. Operating leases are included in "Operating lease right-of-use assets, net", "Current operating lease liabilities" and "Long-term operating lease liabilities, net of current portion" on the Company’s Consolidated Balance Sheets. Finance leases are included in "Property and equipment, net", "Current portion of long-term debt", and "Finance lease obligations, net of current portion" on the Company’s Consolidated Balance Sheets. See Note 10, Leases, related to the required lease disclosures. The Company as Lessor: See Note 3, Revenue Recognition, for more information.
Income Taxes	Income Taxes Alta Enterprises, LLC was historically and remains a partnership for federal income tax purposes, with each partner being separately taxed on its share of taxable income (loss). As most of the activity resides in Alta Enterprises, LLC, the income tax impact to the Company represents the current income tax calculated at the consolidated return level, (“Alta Equipment Group Inc. and Subsidiaries”), and the deferred impact of the interest in the lower tier partnership. As it relates to being a consolidated return filer, and considering the operating entity is a 100 % owned partnership, the Company uses the guidance in Topic 740 - Income Taxes ("Topic 740") asset and liability method of accounting for income taxes, under which deferred tax assets and liabilities are recognized for the future tax consequences of (i) temporary differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities and (ii) operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are based on enacted tax rates applicable to the future period when those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period the rate change is enacted. Deferred income tax assets are subject to valuation allowance considerations to recognize only amounts that are more likely than not to be ultimately realized. In accordance with Topic 740, we review the likelihood that we will realize the benefit of deferred tax assets and estimate whether recoverability of our deferred tax assets is “more likely than not”. In determining whether a valuation allowance is needed, on a quarterly basis we evaluate historical operating results, the existence of cumulative losses in the most recent fiscal years, expectations for future pretax operating income within the carryback or carryforward periods provided for in the tax law for each applicable tax jurisdiction, the time period over which our temporary differences will reverse and the implementation of feasible and prudent tax planning strategies. A cumulative loss in recent years is considered a significant piece of negative evidence that is difficult to overcome in assessing the need for a valuation allowance. See Note 12, Income Taxes, for more information.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Accounting standards establish a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The FASB fair value measurement guidance established a fair value hierarchy that prioritizes the inputs used to measure fair value. We assess the inputs used to measure fair value using the three-tier hierarchy. The three broad levels of the fair value hierarchy are as follows: • Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities • Level 2 — Quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly • Level 3 — Unobservable inputs for which little or no market data exists, therefore requiring a company to develop its own assumptions In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The estimated fair values of derivative financial instruments are valued using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative and quoted market prices for similar instruments from third parties. The fair value of interest rate caps is determined using the market-standard methodology of discounting the future expected cash receipts which would occur if floating interest rates rise above the strike rate of the caps. The floating interest rates used in the calculation of projected receipts on the caps are based on the period to maturity and an expectation of future interest rates derived from observable market interest rate curves and volatilities. The inputs used in the valuation of all our derivative contracts fall within Level 2 of the fair value hierarchy.
Translation of Foreign Currency	Translation of Foreign Currency Assets and liabilities of our foreign subsidiaries that have a functional currency other than U.S. dollar are translated into U.S. dollars using exchange rates at the balance sheet date. Revenues and expenses are translated at average exchange rates effective during the year. Foreign currency translation gains and losses are included as a component of "Accumulated other comprehensive income (loss)" ("AOCI") within the Consolidated Balance Sheets.
New Accounting Pronouncements	New Accounting Pronouncements New Accounting Pronouncements Adopted in 2023 Financial Instruments — Credit Losses On January 1, 2023, we adopted ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("Topic 326"). This standard prescribes an impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected losses rather than incurred losses. Under the new guidance, we recognize an allowance for our estimate of expected credit losses over the entire contractual term of our trade receivables from revenue transactions from the date of initial recognition of the financial instrument. Estimates of expected credit losses over their contractual life are recorded at inception based on historical information, current conditions, and reasonable and supportable forecasts. The adoption of Topic 326 did not have a material impact on the Company's consolidated financial statements and related disclosures or our existing internal controls as our non-rental accounts receivable are of short duration and there is not a material difference between incurred losses and expected losses. New Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued guidance to improve the disclosures about a public entity’s reportable segments requiring additional, more detailed information about a reportable segment’s expenses. The Company is required to adopt the guidance in the 2024 Annual Report on Form 10-K, though early adoption is permitted. The Company is currently evaluating the impact of this amendment on its consolidated financial statements. In December 2023, the FASB issued guidance to provide disaggregated income tax disclosures on the rate reconciliation and income taxes paid. The Company is required to adopt the guidance in the first quarter of 2025, though early adoption is permitted. The Company is currently evaluating the impact of this amendment on its consolidated financial statements. The Company believes all other recently issued accounting pronouncements from the FASB that the Company has not noted above will not have a material impact on its consolidated financial statements or do not apply to us.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives of Definite Lived Intangible Assets	Intangible assets with a finite life consist of customer and supplier relationships, non-compete agreements, tradenames, and internal use software and are carried at cost less accumulated amortization. During the fourth quarter of 2021, the Company shortened the remaining useful lives of some tradename intangible assets resulting in accelerated amortization in the fourth quarter of 2021 and thereafter given our rebranding efforts on certain acquisitions. The estimated useful lives of the finite-lived intangible assets are as follows: Estimated Customer and supplier relationships 9 – 10 years Other intangibles 2 – 5 years

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Summary of Disaggregated Revenues	The following table summarizes the Company’s disaggregated revenues as presented in the Consolidated Statements of Operations for the years ended December 31, 2023, 2022 and 2021 by revenue type and the applicable accounting standard. Year Ended December 31, 2023 Year Ended December 31, 2022 Year Ended December 31, 2021 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: New and used equipment sales $ — $ 1,025.9 $ 1,025.9 $ — $ 817.2 $ 817.2 $ — $ 568.8 $ 568.8 Parts sales — 278.3 278.3 — 234.8 234.8 — 178.5 178.5 Service revenues — 241.3 241.3 — 206.6 206.6 — 165.5 165.5 Rental revenues 202.4 — 202.4 180.1 — 180.1 155.5 — 155.5 Rental equipment sales — 128.9 128.9 — 133.1 133.1 — 144.5 144.5 Total revenues $ 202.4 $ 1,674.4 $ 1,876.8 $ 180.1 $ 1,391.7 $ 1,571.8 $ 155.5 $ 1,057.3 $ 1,212.8

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Summary of Components of Inventories, Net	December 31, December 31, New equipment $ 373.6 $ 258.5 Used equipment 54.6 59.0 Work in process 8.2 8.6 Parts 101.9 78.8 Gross inventory 538.3 404.9 Inventory reserves ( 7.6 ) ( 5.2 ) Inventories, net $ 530.7 $ 399.7

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net, consisted of the following: December 31, December 31, Land $ 2.1 $ 2.1 Rental fleet 600.8 516.4 Buildings, equipment, and leasehold improvements: Machinery and equipment 8.5 8.6 Autos and trucks 7.7 7.1 Buildings and leasehold improvements 20.8 15.6 Construction in progress 6.1 4.3 Finance lease right-of-use assets 48.4 24.4 Office equipment 4.9 4.7 Computer equipment 13.3 13.1 Total cost 712.6 596.3 Less: accumulated depreciation and amortization: Rental fleet ( 209.4 ) ( 187.4 ) Buildings, equipment, autos and trucks, leasehold improvements, finance leases and office and computer equipment ( 38.4 ) ( 31.1 ) Total accumulated depreciation and amortization ( 247.8 ) ( 218.5 ) Property and equipment, net $ 464.8 $ 377.8

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill in Total and by Reportable Segment	The following table summarizes the changes in the carrying amount of goodwill in total and by reportable segment during the years ended December 31, 2023 and 2022: Material Construction Master Distribution Total Balance, December 31, 2021 $ 11.6 $ 30.3 $ — $ 41.9 Additions 2.0 — 17.6 19.6 Adjustments to purchase price allocations — 7.7 — 7.7 Balance, December 31, 2022 $ 13.6 $ 38.0 $ 17.6 $ 69.2 Additions 1.1 5.4 — 6.5 Adjustments to purchase price allocations 0.3 — 0.7 1.0 Translation adjustments — — — — Balance, December 31, 2023 $ 15.0 $ 43.4 $ 18.3 $ 76.7
Schedule of Gross Carrying Amount of Intangible Assets and Accumulated Amortization	The gross carrying amount of intangible assets and accumulated amortization as of December 31, 2023 and 2022 were as follows: December 31, 2023 Weighted Average Remaining Life (in years) Gross carrying Accumulated Net carrying Customer and supplier relationships 7.6 $ 73.6 $ ( 16.8 ) $ 56.8 Other intangibles 3.9 14.6 ( 5.1 ) 9.5 Total 7.0 $ 88.2 $ ( 21.9 ) $ 66.3 December 31, 2022 Weighted Average Remaining Life (in years) Gross carrying Accumulated Net carrying Customer and supplier relationships 8.3 $ 63.0 $ ( 10.1 ) $ 52.9 Other intangibles 4.2 10.7 ( 2.9 ) 7.8 Total 7.7 $ 73.7 $ ( 13.0 ) $ 60.7
Schedule of Estimated Amortization Expense Intangible Assets	As of December 31, 2023, estimated amortization expense for intangible assets for each of the next five years and thereafter was as follows: Year ending December 31, Amount 2024 $ 10.3 2025 10.1 2026 9.9 2027 9.1 2028 8.3 Thereafter 18.6 Total $ 66.3

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt	The Company’s long-term debt consists of the following: December 31, December 31, Line of credit $ 317.5 $ 219.5 Senior secured second lien notes 315.0 315.0 Unamortized debt issuance costs ( 2.2 ) ( 2.8 ) Debt discount ( 2.1 ) ( 3.0 ) Finance leases 38.8 19.6 Total debt and finance leases 667.0 548.3 Less: current maturities ( 7.7 ) ( 4.2 ) Long-term debt and finance leases, net $ 659.3 $ 544.1
Schedule of Long Term Debt Principal Maturities	Long term debt principal maturities, excluding finance leases which are disclosed in Note 10, Leases, are as follows: Year ending December 31, Amount 2024 $ — 2025 317.5 2026 315.0 2027 — 2028 — Thereafter — Total $ 632.5
Schedule of Present Value of Minimum Cash Payments	Balance Sheet Location December 31, December 31, Other current liabilities $ 7.4 $ 0.8 Other liabilities 6.5 6.2 Total $ 13.9 $ 7.0

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Components of Lease Expense (Includes Related Party Leases)	The components of lease expense (including related party leases) were as follows: Year Ended December 31, 2023 2022 2021 Operating lease expense $ 27.0 $ 25.1 $ 23.3 Short-term lease expense 5.0 4.4 4.3 Low-value lease expense 0.9 0.5 0.6 Variable lease expense 9.0 6.6 1.5 Finance lease expense: Amortization of right-of-use assets 6.5 4.0 2.0 Interest on lease liabilities 2.6 1.0 0.4 Sublease income ( 0.3 ) ( 0.1 ) ( 0.1 ) Total lease expense $ 50.7 $ 41.5 $ 32.0
Schedule of Other Information Related to Leases	Other information related to leases is presented in the table below: Year Ended December 31, Supplemental Cash Flows Information 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 25.9 $ 24.2 $ 22.3 Operating cash flows for finance leases 2.6 1.0 0.4 Financing cash flows for finance leases 5.7 3.6 1.9 Non-cash right-of-use assets obtained in exchange for lease obligations: Operating leases 13.9 29.3 15.5 Finance leases 25.2 11.6 12.6 Weighted Average Remaining Lease Term (in years): Operating leases 8.9 9.3 6.9 Finance leases 4.7 4.5 4.7 Weighted Average Discount Rate (in %): Operating leases 10.3 10.0 6.3 Finance leases 8.5 7.6 5.6
Schedule of Minimum Future Lease Payments under Non-cancellable Operating and Finance Leases	Minimum future lease payments under non-cancellable operating and finance leases described above as of December 31, 2023 were as follows: Year ending December 31, Operating Leases Finance Leases 2024 $ 25.8 $ 10.6 2025 22.5 10.3 2026 19.2 9.5 2027 17.8 7.9 2028 16.1 5.9 Thereafter 80.0 2.7 Total future minimum lease payments 181.4 46.9 Less: imputed interest ( 65.9 ) ( 8.1 ) Total $ 115.5 $ 38.8 Balance Sheet Location December 31, 2023 December 31, 2022 Current portion of long-term debt $ 7.7 $ 4.2 Current operating lease liabilities 15.9 14.8 Finance lease obligations, net of current portion 31.1 15.4 Long-term operating lease liabilities, net of current portion 99.6 101.9 Total $ 154.3 $ 136.3
Schedule of Minimum Rentals Receivable	Approximate minimum rentals receivable, none of which are recorded in our Consolidated Balance Sheets, under such leases for each of the next five years and thereafter are as follows: Year ending December 31, Amount 2024 $ 5.8 2025 2.8 2026 2.0 2027 1.4 2028 0.1 Thereafter — Total $ 12.1
Schedule of Future Guaranteed Purchase Obligations Under Operating and Sales-Type Leases	Future guaranteed purchase obligations under operating and sales-type leases to be paid by the Company for each of the next five years and thereafter are as follows: Year ending December 31, Amount 2024 $ 2.3 2025 1.7 2026 0.5 2027 0.1 2028 0.2 Thereafter — Total $ 4.8

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Components of Income Tax Provision (Benefit)	The income tax provision (benefit) for the years ended December 31, 2023, 2022 and 2021 were calculated based upon the following components of income before income taxes: Year Ended December 31, 2023 2022 2021 U.S. income (loss) $ 0.7 $ 9.0 $ ( 17.2 ) Foreign income 1.8 1.6 — Total income (loss) before taxes $ 2.5 $ 10.6 $ ( 17.2 )
Schedule of Income Tax Provision (Benefit)	The income tax provision (benefit) for the years ended December 31, 2023, 2022 and 2021 consisted of the following: Year Ended December 31, 2023 2022 2021 Current U.S. federal $ 0.7 $ 1.9 $ — U.S. state 1.7 0.6 — Foreign 0.4 — — Deferred U.S. federal ( 5.2 ) ( 0.7 ) 2.8 U.S. state ( 5.3 ) ( 0.8 ) 0.8 Foreign 1.3 0.3 — Total income tax (benefit) expense $ ( 6.4 ) $ 1.3 $ 3.6
Schedule of Reconciliation of Income Tax (Expense) Benefit	The reconciliation of the income tax expense (benefit) in the consolidated financial statements and the amount computed by applying the statutory U.S. federal and state related income tax rates to the pre-tax income (loss) before income taxes for the years ended December 31, 2023, 2022 and 2021 was as follows: Year Ended December 31, 2023 2022 2021 Income tax expense (benefit) at statutory U.S. federal rate $ 0.5 $ 2.2 $ ( 3.6 ) Income tax expense (benefit) at statutory U.S. states rate, net 0.2 ( 0.4 ) ( 0.6 ) Foreign rate differential 0.1 0.1 — Valuation allowance ( 8.8 ) 0.8 7.6 Fixed asset basis adjustments — ( 1.6 ) — Other 1.6 0.2 0.2 Total income tax (benefit) expense $ ( 6.4 ) $ 1.3 $ 3.6
Schedule of Components of Deferred Tax Assets and Liabilities	The components of deferred tax assets and liabilities as of December 31, 2023 and 2022 were as follows: Year Ended December 31, 2023 2022 Deferred Tax Assets Net operating loss carryforwards $ 41.3 $ 8.3 Deferred revenue 0.6 0.7 Accounts receivable and inventories 6.6 6.0 Goodwill & intangibles — 1.8 Accrued liabilities 4.8 6.0 Lease liability 39.1 35.2 Interest limitation carryforward 20.5 3.7 Deferred payroll taxes and other 2.0 1.8 Gross deferred tax assets 114.9 63.5 Valuation allowance — ( 8.8 ) Deferred tax assets 114.9 54.7 Deferred Tax Liabilities Property and equipment ( 73.5 ) ( 25.3 ) Goodwill & intangibles ( 2.2 ) — Prepaid expenses ( 1.4 ) ( 1.5 ) Lease right-of-use assets ( 37.6 ) ( 34.3 ) Gross deferred tax liabilities ( 114.7 ) ( 61.1 ) Deferred tax assets (liabilities), net $ 0.2 $ ( 6.4 )

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Stock Awards Granted, Vested and Forfeited	The following table shows the number of stock awards that were granted, vested, and forfeited during 2023: Restricted Stock Units Performance Stock Units Number of units Weighted average grant date fair value Number of units Weighted average grant date fair value Unvested units as of December 31, 2022 288,266 $ 10.24 424,538 $ 12.14 Granted 96,376 15.65 179,199 15.85 Vested - issued ( 121,787 ) 10.01 ( 53,790 ) 12.14 Vested - unissued ( 32,281 ) 12.79 — — Forfeited — — ( 6,525 ) 13.54 Unvested units as of December 31, 2023 230,574 $ 12.27 543,422 $ 13.37

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Disclosure of Fair Value and Carrying Value of Debt Instruments	The estimated fair value, as well as the carrying value, of the Company's debt instruments as of December 31, 2023 and December 31, 2022 are shown below: December 31, 2023 December 31, 2022 Estimated aggregate fair value $ 655.6 $ 521.0 Aggregate carrying value (1) 671.3 554.1 (1) Total debt excluding the impact of unamortized debt discount and debt issuance costs.
Schedule of Contingent Consideration Liabilities Recorded at Fair Value	The following table sets forth the Company’s contingent consideration liabilities recorded at fair value as of December 31, 2023 and December 31, 2022, and their presentation on the Consolidated Balance Sheets: Level 3 Balance Sheet Location December 31, 2023 December 31, 2022 Other current liabilities $ 0.4 $ 1.8 Other liabilities 4.2 8.0
Summary of Changes to Level 3 Instruments	The following is a summary of changes to Level 3 instruments for the years ended December 31, 2023 and 2022: Contingent Consideration Balance, December 31, 2021 $ 2.8 Acquisitions 6.9 Changes in fair value 0.5 Payments ( 0.4 ) Balance, December 31, 2022 $ 9.8 Acquisitions — Changes in fair value 1.1 Payments ( 1.2 ) Non-contingent reclass ( 5.1 ) Balance, December 31, 2023 $ 4.6
Summary of Maturity Dates Unit of Measure and Notional Value for Derivative Instruments	The following table summarizes the maturity dates, unit of measure and notional value for the derivative instruments as of December 31, 2023: Maturity Date of Derivatives Currency / Unit of Measure Notional Value Interest rate cap ( December 2025 ) One-month SOFR $ 200.0 Fuel swaps ( various through June 2025 ) Gallons 2.5
Summary of Derivative Financial Instruments Measured at Fair Value	The following table sets forth the location and fair values of the Company’s derivative financial instruments as of December 31, 2023 and 2022 on the Consolidated Balance Sheets: Asset Derivatives Liability Derivatives Derivatives designated as hedges Balance Sheet location December 31, 2023 December 31, 2022 Balance Sheet location December 31, 2023 December 31, 2022 Interest rate cap - current Prepaid expenses and other current assets $ — $ — Other current liabilities $ 1.6 $ 1.6 Interest rate cap - long-term Other assets 1.7 3.5 Other liabilities 1.6 3.4 Derivatives not designated as hedge Foreign currency forwards Prepaid expenses and other current assets — — Other current liabilities — 0.2

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2023
Business Acquisition [Line Items]
Summary of Net Assets Acquired from Acquisition	The following table summarizes the net assets acquired from the 2023 acquisitions: Burris Ault Cash $ — $ 0.9 Accounts receivable 1.0 6.9 Inventories 8.7 28.9 Prepaid expenses and other current assets 0.1 0.7 Rental fleet 10.8 — Property and equipment 0.6 1.2 Operating lease right-of-use assets 1.7 1.0 Other intangible assets — 13.8 Goodwill — 5.4 Other assets — 0.3 Total assets $ 22.9 $ 59.1 Floor plan payable – new equipment $ ( 2.7 ) $ ( 6.5 ) Accounts payable ( 0.8 ) ( 8.5 ) Customer deposits — ( 0.1 ) Accrued expenses ( 1.0 ) ( 1.5 ) Current operating lease liabilities ( 0.3 ) ( 0.1 ) Current deferred revenue — ( 0.6 ) Long-term operating lease liabilities ( 1.4 ) ( 0.9 ) Deferred tax liability — ( 2.9 ) Total liabilities $ ( 6.2 ) $ ( 21.1 ) Net assets acquired $ 16.7 $ 38.0 Net assets acquired net of cash $ 16.7 $ 37.1 The following table summarizes the net assets acquired by segment from the 2022 acquisitions: Material Handling Master Distribution Total Cash $ 2.3 $ 0.3 $ 2.6 Accounts receivable 9.6 9.6 19.2 Inventories 7.6 12.3 19.9 Prepaid expenses and other current assets 0.1 0.8 0.9 Rental fleet 22.7 — 22.7 Property and equipment 2.0 0.6 2.6 Operating lease right-of-use assets 2.2 1.6 3.8 Other intangible assets 1.4 27.8 29.2 Goodwill 2.3 18.3 20.6 Total assets $ 50.2 $ 71.3 $ 121.5 Accounts payable $ ( 1.5 ) $ ( 8.3 ) $ ( 9.8 ) Customer deposits — ( 2.2 ) ( 2.2 ) Accrued expenses ( 1.6 ) ( 0.2 ) ( 1.8 ) Current operating lease liabilities ( 0.8 ) ( 0.1 ) ( 0.9 ) Current deferred revenue ( 1.2 ) — ( 1.2 ) Other current liabilities — ( 0.9 ) ( 0.9 ) Long-term operating lease liabilities ( 1.4 ) ( 1.5 ) ( 2.9 ) Deferred tax liability ( 2.8 ) — ( 2.8 ) Total liabilities ( 9.3 ) ( 13.2 ) ( 22.5 ) Net assets acquired 40.9 58.1 99.0 Net assets acquired net of cash $ 38.6 $ 57.8 $ 96.4 Ecoverse On November 1, 2022 the Company acquired Ecoverse, a privately held distributor of environmental processing equipment headquartered in Avon, Ohio, with 15 sub dealers throughout North America, for a total purchase price of $ 58.1 million. YIT On July 29, 2022 the Company acquired the stock of YIT, a privately held Canadian equipment distributor with locations in Ontario and Quebec, for a total purchase price of $ 40.6 million. Both of these acquisitions were accounted for as business combinations and the goodwill is tax deductible. During 2023 we primarily had working capital and tax-related purchase price accounting adjustments for our 2022 acquisitions which were not significant individually or in the aggregate. See the Consolidated Statements of Cash Flows for the total cash outflow in "Expenditures for acquisitions, net of cash acquired" for the net current year impact of the 2022 acquisitions purchase price accounting adjustments and current year acquisitions.

Union Pension Plan (Tables)

Union Pension Plan (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Summary of Multiple Employer Pension Plans	Multiple Employer Pension Plans: Pension Fund EIN Pension Protection Act Zone Status as of December 31, FIP/RP Contributions by Company for the year ended Surcharge Expiration Date of Collective Bargaining Agreement 2023 2022 2023 2022 2021 Midwest Operating Engineers 36-6140097 Green 3/31/2023 Green 3/31/2022 None $ 2.8 $ 2.4 $ 2.2 No 5/31/2024 Operating Engineers Local 38-1900637 Red 4/30/2023 Red 4/30/2022 Implemented 1.6 1.2 0.9 Yes 9/30/2024 All Other Multiemployer Pension Plans (1) 1.5 1.2 0.8 Various Total $ 5.9 $ 4.8 $ 3.9 (1) All Other Multiemployer Pension Plans includes 12 plans, none of which are individually significant when considering contributions to the plan, severity of the underfunded status or other factors.

Segments (Tables)

Segments (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Results of Operations by Reportable Segment	The following tables present the Company’s results of operations by reportable segment for the years ended December 31, 2023, 2022 and 2021: Year Ended December 31, 2023 Material Construction Master Distribution Corporate and Other Total New and used equipment sales $ 367.6 $ 597.9 $ 72.5 $ ( 12.1 ) $ 1,025.9 Parts sales 99.5 170.1 9.8 ( 1.1 ) 278.3 Service revenues 132.8 108.2 0.3 — 241.3 Rental revenues 76.4 124.8 1.2 — 202.4 Rental equipment sales 5.2 123.7 — — 128.9 Total revenues $ 681.5 $ 1,124.7 $ 83.8 $ ( 13.2 ) $ 1,876.8 Interest expense 18.1 33.1 3.4 2.4 57.0 Depreciation and amortization 34.9 92.5 4.4 0.8 132.6 Income (loss) before taxes 14.7 7.0 4.1 ( 23.3 ) 2.5 Year Ended December 31, 2022 Material Construction Master Distribution Corporate and Other Total New and used equipment sales $ 305.2 $ 508.2 $ 5.0 $ ( 1.2 ) $ 817.2 Parts sales 84.4 149.0 1.6 ( 0.2 ) 234.8 Service revenues 112.1 94.4 0.1 — 206.6 Rental revenues 63.5 116.6 — — 180.1 Rental equipment sales 5.5 127.6 — — 133.1 Total revenues $ 570.7 $ 995.8 $ 6.7 $ ( 1.4 ) $ 1,571.8 Interest expense 11.7 17.7 0.5 1.9 31.8 Depreciation and amortization 26.8 84.6 0.6 — 112.0 Income (loss) before taxes 17.1 14.2 ( 1.5 ) ( 19.2 ) 10.6 Year Ended December 31, 2021 Material Construction Corporate and Other Total New and used equipment sales $ 258.3 $ 310.5 $ — $ 568.8 Parts sales 65.4 113.1 — 178.5 Service revenue 94.6 70.9 — 165.5 Rental revenue 48.4 107.1 — 155.5 Rental equipment sales 0.8 143.7 — 144.5 Total revenues $ 467.5 $ 745.3 $ — $ 1,212.8 Interest expense 8.2 13.9 1.9 24.0 Depreciation and amortization 19.3 76.5 — 95.8 Income (loss) before taxes 10.2 ( 2.9 ) ( 24.5 ) ( 17.2 )
Summary of Identified Assets by Reportable Segment	The following table presents the Company’s identified assets by reportable segment as of December 31, 2023 and 2022: December 31, December 31, Segment assets: Material Handling $ 474.3 $ 416.3 Construction Equipment 947.6 775.5 Master Distribution 85.9 77.6 Corporate and Other 63.1 21.2 Total assets $ 1,570.9 $ 1,290.6

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Summary of Basic and Diluted EPS	Basic and diluted EPS for the years ended December 31, 2023, 2022 and 2021 were calculated as follows: Year Ended December 31, 2023 2022 2021 Basic net income (loss) per share Net income (loss) available to common stockholders $ 5.9 $ 6.3 $ ( 23.4 ) Basic weighted average common shares outstanding 32,447,754 32,099,247 31,706,329 Basic net income (loss) per share of common stock $ 0.18 $ 0.20 $ ( 0.74 ) Diluted income (loss) per share Net income (loss) available to common stockholders $ 5.9 $ 6.3 $ ( 23.4 ) Basic weighted average common shares outstanding 32,447,754 32,099,247 31,706,329 Effect of dilutive securities Effect of dilutive securities 429,753 202,416 — Diluted weighted average common shares outstanding 32,877,507 32,301,663 31,706,329 Diluted net income (loss) per share of common stock $ 0.18 $ 0.20 $ ( 0.74 )

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)				3 Months Ended	12 Months Ended
	Oct. 01, 2023 USD ($)	Oct. 01, 2022 USD ($)	Oct. 01, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020	Dec. 22, 2020
Summary Of Significant Accounting Policies [Line Items]
Inventory valuation reserves				$ 7,600,000	$ 7,600,000	$ 5,200,000
Provision for federal income taxes					$ (5,200,000)	$ (700,000)	$ 2,800,000
Partnership owned percentage in operating entity				100%	100%
Goodwill impairment	$ 0	$ 0	$ 0
Impairment associated with our long-lived assets (excluding goodwill)				$ 0
10% Series A Cumulative Perpetual Preferred Stock
Summary Of Significant Accounting Policies [Line Items]
Depositary receipt ratio				0.001	0.001	0.001	0.001	0.001	0.001
Minimum
Summary Of Significant Accounting Policies [Line Items]
Revenue from guaranteed maintenance contracts					3 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Revenue from guaranteed maintenance contracts					5 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Definite Lived Intangible Assets (Details)	Dec. 31, 2023
Customer and Supplier Relationships | Minimum
Finite Lived Intangible Assets [Line Items]
Intangible assets, estimated useful life	9 years
Customer and Supplier Relationships | Maximum
Finite Lived Intangible Assets [Line Items]
Intangible assets, estimated useful life	10 years
Other Intangibles | Minimum
Finite Lived Intangible Assets [Line Items]
Intangible assets, estimated useful life	2 years
Other Intangibles | Maximum
Finite Lived Intangible Assets [Line Items]
Intangible assets, estimated useful life	5 years

Revenue Recognition - Summary o

Revenue Recognition - Summary of Disaggregated Revenues (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Total revenues	$ 1,876.8	$ 1,571.8	$ 1,212.8
Topic 842
Revenues:
Total revenues	202.4	180.1	155.5
Topic 606
Revenues:
Total revenues	1,674.4	1,391.7	1,057.3
New and Used Equipment Sales
Revenues:
Total revenues	1,025.9	817.2	568.8
New and Used Equipment Sales | Topic 606
Revenues:
Total revenues	1,025.9	817.2	568.8
Parts Sales
Revenues:
Total revenues	278.3	234.8	178.5
Parts Sales | Topic 606
Revenues:
Total revenues	278.3	234.8	178.5
Service Revenues
Revenues:
Total revenues	241.3	206.6	165.5
Service Revenues | Topic 606
Revenues:
Total revenues	241.3	206.6	165.5
Rental Revenues
Revenues:
Total revenues	202.4	180.1	155.5
Rental Revenues | Topic 842
Revenues:
Total revenues	202.4	180.1	155.5
Rental Equipment Sales
Revenues:
Total revenues	128.9	133.1	144.5
Rental Equipment Sales | Topic 606
Revenues:
Total revenues	$ 128.9	$ 133.1	$ 144.5

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation Of Revenue [Line Items]
Total revenues	$ 1,876.8	$ 1,571.8	$ 1,212.8
Revenue recognized from guaranteed maintenance contracts	24	21.4	18.8
Contract with customer, assets	4.5	3.6
Deferred revenue recognized	13.9	12.6
Automated Equipment Installation and System Integration Services
Disaggregation Of Revenue [Line Items]
Deferred revenue	18.4	16
Service Maintenance Contracts
Disaggregation Of Revenue [Line Items]
Deferred revenue	18.4	16
Equipment Rental Agreements
Disaggregation Of Revenue [Line Items]
Deferred revenue	18.4	16
Equipment
Disaggregation Of Revenue [Line Items]
Deferred revenue	2	3
Recognized liability for guarantee to repurchase	4.8	7
Bill and hold agreements
Disaggregation Of Revenue [Line Items]
Total revenues	27.7	15.6
Service Sales Agreements, Rental Agreements and Automated Equipment Installation and System Integration Services
Disaggregation Of Revenue [Line Items]
Deferred revenue	20.4	19
Design And Build Projects Automated Equipment Installation And System Integration Services
Disaggregation Of Revenue [Line Items]
Total revenues	$ 66.9	$ 77.5	$ 55.9
Minimum
Disaggregation Of Revenue [Line Items]
Revenue from guaranteed maintenance contracts	3 years
Maximum
Disaggregation Of Revenue [Line Items]
Revenue from guaranteed maintenance contracts	5 years

Revenue Recognition - Additio_2

Revenue Recognition - Additional Information (Details1)	Dec. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenues balance to be realized	80%
Deferred revenues balance to be realized, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenues balance to be realized	12%
Deferred revenues balance to be realized, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenues balance to be realized	5%
Deferred revenues balance to be realized, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenues balance to be realized	3%
Deferred revenues balance to be realized, period

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OneH2, Inc.
Related Party Transaction [Line Items]
Purchases from related party			$ 0
Hydrogen Fuel | OneH2, Inc.
Related Party Transaction [Line Items]
Purchases from related party	$ 400,000	$ 300,000
Payments to related party	$ 1,100,000	3,100,000
Related Party Lease Agreements
Related Party Transaction [Line Items]
Operating lease, Rent expense		$ 4,800,000	$ 4,800,000

Inventories - Summary of Compon

Inventories - Summary of Components of Inventories, Net (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
New equipment	$ 373.6	$ 258.5
Used equipment	54.6	59
Work in process	8.2	8.6
Parts	101.9	78.8
Gross inventory	538.3	404.9
Inventory reserves	(7.6)	(5.2)
Inventories, net	$ 530.7	$ 399.7

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Capitalized direct labor expense included in work in process	$ 1.2	$ 1.8
Rental depreciation expense under short-term leases with purchase options	$ 12.4	$ 7.6	$ 5.8

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Property Plant and Equipment [Line Items]
Total cost	$ 712.6	$ 596.3
Total accumulated depreciation and amortization	(247.8)	(218.5)
Property and equipment, net	464.8	377.8
Land
Property Plant and Equipment [Line Items]
Total cost	2.1	2.1
Rental Fleet
Property Plant and Equipment [Line Items]
Total cost	600.8	516.4
Total accumulated depreciation and amortization	(209.4)	(187.4)
Machinery and Equipment
Property Plant and Equipment [Line Items]
Total cost	8.5	8.6
Autos and Trucks
Property Plant and Equipment [Line Items]
Total cost	7.7	7.1
Buildings and Leasehold Improvements
Property Plant and Equipment [Line Items]
Total cost	20.8	15.6
Construction In Progress
Property Plant and Equipment [Line Items]
Total cost	6.1	4.3
Finance Lease Right of Use Assets
Property Plant and Equipment [Line Items]
Total cost	48.4	24.4
Office Equipment
Property Plant and Equipment [Line Items]
Total cost	4.9	4.7
Computer Equipment
Property Plant and Equipment [Line Items]
Total cost	13.3	13.1
Equipment Autos and Trucks Leasehold Improvements Finance Leases and Office and Computer Equipment
Property Plant and Equipment [Line Items]
Total accumulated depreciation and amortization	$ (38.4)	$ (31.1)

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property Plant and Equipment [Line Items]
Depreciation and amortization on property and equipment	$ 132.6	$ 112	$ 95.8
Finance lease assets, gross carrying values	48.4	24.4
Finance leases assets, accumulated amortization balances	10.8	5.4
GPO Assets	8.9	11.8
Property and Equipment
Property Plant and Equipment [Line Items]
Depreciation and amortization on property and equipment	111.3	98.5	$ 86.7
Rental Fleet
Property Plant and Equipment [Line Items]
Finance leases assets, accumulated amortization balances	$ 600.8	$ 516.4

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill in Total and by Reportable Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Line Items]
Beginning balance	$ 69.2	$ 41.9
Additions	6.5	19.6
Adjustments to purchase price allocations	1	7.7
Ending balance	76.7	69.2
Material Handling
Goodwill [Line Items]
Beginning balance	13.6	11.6
Additions	1.1	2
Adjustments to purchase price allocations	0.3
Ending balance	15	13.6
Construction Equipment
Goodwill [Line Items]
Beginning balance	38	30.3
Additions	5.4
Adjustments to purchase price allocations		7.7
Ending balance	43.4	38
Master Distribution
Goodwill [Line Items]
Beginning balance	17.6
Additions		17.6
Adjustments to purchase price allocations	0.7
Ending balance	$ 18.3	$ 17.6

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Gross Carrying Amount of Intangible Assets and Accumulated Amortization (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	7 years	7 years 8 months 12 days
Gross carrying amount	$ 88.2	$ 73.7
Accumulated amortization	(21.9)	(13)
Net carrying amount	$ 66.3	$ 60.7
Customer and Supplier Relationships
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	7 years 7 months 6 days	8 years 3 months 18 days
Gross carrying amount	$ 73.6	$ 63
Accumulated amortization	(16.8)	(10.1)
Net carrying amount	$ 56.8	$ 52.9
Other Intangibles
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	3 years 10 months 24 days	4 years 2 months 12 days
Gross carrying amount	$ 14.6	$ 10.7
Accumulated amortization	(5.1)	(2.9)
Net carrying amount	$ 9.5	$ 7.8

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 8.9	$ 5.9	$ 3.3

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Schedule of Estimated Amortization Expense Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2024	$ 10.3
2025	10.1
2026	9.9
2027	9.1
2028	8.3
Thereafter	18.6
Net carrying amount	$ 66.3	$ 60.7

Floor Plans - Additional Inform

Floor Plans - Additional Information (Details) - USD ($)		12 Months Ended
	Jun. 28, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Line Of Credit Facility [Line Items]
Floor plan financing facility		$ 317,500,000	$ 219,500,000
Recognized interest expense		57,000,000	31,800,000	$ 24,000,000
First Lien Lender | JP Morgan Chase Bank | First Lien Floor Plan Facility
Line Of Credit Facility [Line Items]
Floor plan financing facility		$ 67,400,000	$ 58,600,000
Effective interest rate		8.20%	7%
First Lien Lender | JP Morgan Chase Bank | First Lien Floor Plan Facility | Yale Industrial Trucks Inc. | Minimum
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	$ 60,000,000
Borrowing capacity increased	10,000,000
First Lien Lender | JP Morgan Chase Bank | First Lien Floor Plan Facility | Yale Industrial Trucks Inc. | Maximum
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	$ 70,000,000
OEM Captive Lenders and Suppliers | JP Morgan Chase Bank | Floor Plan Facilities | Minimum
Line Of Credit Facility [Line Items]
Maximum borrowing capacity		$ 100,000
OEM Captive Lenders and Suppliers | JP Morgan Chase Bank | Floor Plan Facilities | Maximum
Line Of Credit Facility [Line Items]
Maximum borrowing capacity		148,500,000
OEM Captive Lenders and Suppliers | JP Morgan Chase Bank | OEM Floor Plan Facilities
Line Of Credit Facility [Line Items]
Floor plan financing facility		$ 330,100,000	$ 198,300,000
OEM Captive Lenders and Suppliers | JP Morgan Chase Bank | OEM Floor Plan Facilities | Minimum
Line Of Credit Facility [Line Items]
Effective interest rate		8.40%	6.80%
OEM Captive Lenders and Suppliers | JP Morgan Chase Bank | OEM Floor Plan Facilities | Maximum
Line Of Credit Facility [Line Items]
Effective interest rate		10.50%	9.20%
Interest only or deferred payment period		12 months
Alta Enterprises, LLC, NITCO, LLC and Other Credit Parties [Member] | JP Morgan Chase Bank | Floor Plan Facilities
Line Of Credit Facility [Line Items]
Floor plan financing facility		$ 397,500,000	$ 256,900,000
Maximum borrowing capacity		$ 429,000,000
Line of credit facility percentage of annual increase		10%
Recognized interest expense		$ 8,400,000	$ 2,700,000	$ 1,700,000
Weighted average rate, excluding the favorable effect of interest-free periods, on Floor Plan Facilities		8%	6.70%

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Details) - USD ($) $ in Millions				12 Months Ended
	Jun. 28, 2023	Nov. 01, 2022	Apr. 01, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Debt instrument, description				On April 1, 2021, the Company completed a private offering of Senior Secured Second Lien Notes (the “Notes”), for the purposes of, among other things, repayment and refinancing of a portion of the Company’s prior existing debt, reducing interest rate exposure and providing liquidity for financing of future growth initiatives.
Outstanding borrowing				$ 317.5	$ 219.5
Loss on extinguishment of debt						$ 11.9
Imputed interest				1	0.3	$ 0.2
ABL Facility
Debt Instrument [Line Items]
Business combination stock exercised value	$ 55
Outstanding borrowing				$ 317.5	$ 219.5
Effective interest rate				7.20%	6.20%
ABL Facility | Canadian-denominated Sublimit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	35
ABL Facility | Minimum
Debt Instrument [Line Items]
Maximum borrowing capacity	430
ABL Facility | Maximum
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 485
First Lien Lender | Floor Plans and ABL Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 914
Outstanding borrowing				715	$ 476.4
Original issue discount and deferred financing costs				1.8	2.1
Notes Payable | Ecoverse | Non-Contingent Consideration
Debt Instrument [Line Items]
Earn-out payment period		5 years
Amount of minimum cash payments using a market participant discount rate				13.9	7
Notes Payable | Ecoverse | Non-Contingent Consideration | Minimum
Debt Instrument [Line Items]
Additional earn-out payment		$ 6
Notes Payable | Ecoverse | Non-Contingent Consideration | Other Liabilities
Debt Instrument [Line Items]
Amount of minimum cash payments using a market participant discount rate				6.5	$ 6.2
5.625% Senior Secured Second Lien Notes due 2026
Debt Instrument [Line Items]
Proceeds from sale of notes			$ 315
Original issue discount and deferred financing costs				$ 2.7
Effective interest rate				5.93%
Outstanding borrowing				$ 312.3
5.625% Senior Secured Second Lien Notes due 2026
Debt Instrument [Line Items]
Debt instrument, interest rate			5.625%

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Lines of credit	$ 317.5	$ 219.5
Senior secured second lien notes	315	315
Unamortized debt issuance costs	(2.2)	(2.8)
Debt discount	(2.1)	(3)
Finance leases	38.8	19.6
Total debt and finance leases	667	548.3
Less: current maturities	(7.7)	(4.2)
Long-term debt and finance leases, net	$ 659.3	$ 544.1

Long-term Debt - Schedule of _2

Long-term Debt - Schedule of Long Term Debt Principal Maturities (Details) $ in Millions	Dec. 31, 2023 USD ($)
Maturities of Long-Term Debt [Abstract]
2024	$ 317.5
2026	315
Total	$ 632.5

Long-term Debt - Schedule of Pr

Long-term Debt - Schedule of Present Value of Minimum Cash Payments (Details) - Ecoverse - Non-Contingent Consideration - Notes Payable - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Amount of minimum cash payments using a market participant discount rate	$ 13.9	$ 7
Other Current Liabilities
Debt Instrument [Line Items]
Amount of minimum cash payments using a market participant discount rate	7.4	0.8
Other Liabilities
Debt Instrument [Line Items]
Amount of minimum cash payments using a market participant discount rate	$ 6.5	$ 6.2

Equity - Summary of Components

Equity - Summary of Components of AOCI as Reported in Consolidated Balance Sheets, and Changes in AOCI by Components, Net of Tax (Details) $ in Millions	Dec. 31, 2023 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (2.9)
Ending balance	$ (1.8)

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lessee Lease Description [Line Items]
Assets recorded under finance leases, net of accumulated depreciation	$ 37.6	$ 19
Undiscounted future lease payments pertaining to leases that were executed but not yet commenced	$ 3.3
Lease term	15 years
Minimum
Lessee Lease Description [Line Items]
Remaining lease terms	1 year
Maximum
Lessee Lease Description [Line Items]
Additional lease renewal terms	20 years

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Includes Related Party Leases) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lease, Cost [Abstract]
Operating lease expense	$ 27	$ 25.1	$ 23.3
Short-term lease expense	5	4.4	4.3
Low-value lease expense	0.9	0.5	0.6
Variable lease expense	9	6.6	1.5
Finance lease expense:
Amortization of right-of-use assets	6.5	4	2
Interest on lease liabilities	2.6	1	0.4
Sublease income	(0.3)	(0.1)	(0.1)
Total lease expense	$ 50.7	$ 41.5	$ 32

Leases - Schedule of Other Info

Leases - Schedule of Other Information Related to Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$ 25.9	$ 24.2	$ 22.3
Operating cash flows for finance leases	2.6	1	0.4
Financing cash flows for finance leases	5.7	3.6	1.9
Non-cash right-of-use assets obtained in exchange for lease obligations
Operating leases	13.9	29.3	15.5
Finance leases	$ 25.2	$ 11.6	$ 12.6
Weighted Average Remaining Lease Term (in years):
Operating leases	8 years 10 months 24 days	9 years 3 months 18 days	6 years 10 months 24 days
Finance leases	4 years 8 months 12 days	4 years 6 months	4 years 8 months 12 days
Weighted Average Discount Rate (in %):
Operating leases	10.30%	10%	6.30%
Finance leases	8.50%	7.60%	5.60%

Leases - Schedule of Minimum Fu

Leases - Schedule of Minimum Future Lease Payments under Non-cancellable Operating and Finance Leases (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 25.8
2025	22.5
2026	19.2
2027	17.8
2028	16.1
Thereafter	80
Total future minimum lease payments	181.4
Less: imputed interest	(65.9)
Lease expense	115.5
2024	10.6
2025	10.3
2026	9.5
2027	7.9
2028	5.9
Thereafter	2.7
Total future minimum lease payments	46.9
Less: imputed interest	(8.1)
Finance leases	38.8	$ 19.6
Current portion of long-term debt	7.7	4.2
Current operating lease liabilities	$ 15.9	$ 14.8
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current operating lease liabilities	Current operating lease liabilities
Finance lease obligations, net of current portion	$ 31.1	$ 15.4
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Finance lease obligations, net of current portion	Finance lease obligations, net of current portion
Long-term operating lease liabilities, net of current portion	$ 99.6	$ 101.9
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term operating lease liabilities, net of current portion	Long-term operating lease liabilities, net of current portion
Total	$ 154.3	$ 136.3

Leases - Schedule of Minimum Re

Leases - Schedule of Minimum Rentals Receivable (Details) $ in Millions	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 5.8
2025	2.8
2026	2
2027	1.4
2028	0.1
Total	$ 12.1

Leases - Lessor - Additional In

Leases - Lessor - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessor Lease Description [Line Items]
Sublease Income	$ 0.3	$ 0.1	$ 0.1
Rental Revenues
Lessor Lease Description [Line Items]
Sublease Income	$ 6.2	$ 7	$ 7.5

Leases - Schedule of Future Gua

Leases - Schedule of Future Guaranteed Purchase Obligations Under Operating and Sales-Type Leases (Details) $ in Millions	Dec. 31, 2023 USD ($)
Purchase Obligation, Fiscal Year Maturity [Abstract]
2024	$ 2.3
2025	1.7
2026	0.5
2027	0.1
2028	0.2
Total	$ 4.8

Contingencies - Additional Info

Contingencies - Additional Information (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Commitments And Contingencies [Line Items]
Guarantees accrued	$ 0	$ 0
Floor plan financing facility	317,500,000	219,500,000
Letter of Credit
Commitments And Contingencies [Line Items]
Floor plan financing facility	$ 9,000,000	$ 4,900,000

Income Taxes - Components of In

Income Taxes - Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
U.S. income (loss)	$ 0.7	$ 9	$ (17.2)
Foreign income	1.8	1.6
Income (loss) before taxes	$ 2.5	$ 10.6	$ (17.2)

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Provision (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Federal Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal taxes-current	$ 0.7	$ 1.9
State taxes-current	1.7	0.6
Foreign-current	0.4
Federal taxes-deferred	(5.2)	(0.7)	$ 2.8
State taxes-deferred	(5.3)	(0.8)	0.8
Foreign taxes-deferred	1.3	0.3
Total income tax (benefit) expense	$ (6.4)	$ 1.3	$ 3.6

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Income Tax (Expense) Benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income tax expense (benefit) at statutory U.S. federal rate	$ 0.5	$ 2.2	$ (3.6)
Income tax expense (benefit) at statutory U.S. states rate, net	0.2	(0.4)	(0.6)
Permanent differences:
Foreign rate differential	0.1	0.1
Valuation allowance	(8.8)	0.8	7.6
Fixed asset basis adjustments		(1.6)
Other	1.6	0.2	0.2
Total income tax (benefit) expense	$ (6.4)	$ 1.3	$ 3.6

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	(256.00%)	12.30%	(20.90%)
Valuation allowance discrete income tax benefit	$ 8.8	$ 8.8
Federal net operating tax loss carryforwards	$ 194.6	30.5
Percentage of future taxable income	80%
State net operating loss carryforwards	$ 6
Net change in the valuation allowance, increase (decrease)	$ (8.8)	$ 1.2

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets
Net operating loss carryforwards	$ 41.3	$ 8.3
Deferred revenue	0.6	0.7
Accounts receivable and inventories	6.6	6
Goodwill & intangibles		1.8
Accrued liabilities	4.8	6
Lease liability	39.1	35.2
Interest limitation carryforward	20.5	3.7
Deferred payroll taxes and other	2	1.8
Gross deferred tax assets	114.9	63.5
Valuation allowance	(8.8)	(8.8)
Deferred tax assets	114.9	54.7
Deferred Tax Liabilities
Property and equipment	(73.5)	(25.3)
Goodwill & intangibles	(2.2)
Prepaid expenses	(1.4)	(1.5)
Lease right-of-use assets	(37.6)	(34.3)
Gross deferred tax liabilities	(114.7)	(61.1)
Deferred tax assets (liabilities), net		$ (6.4)
Deferred tax assets, net	$ 0.2

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Details) - USD ($)			12 Months Ended
	Jun. 08, 2023	Apr. 01, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock shares outstanding			32,369,820	32,194,243
ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock shares outstanding	325,000
Fair market value percentage	85%	85%
Employee contribution	10%
Participants accrue rights to purchase maximum common stock amount	$ 25,000
Compensation expense				$ 0	$ 0
ESPP employee payroll contributions			$ 900,000	0
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense			4,100,000	2,700,000	1,200,000
Unrecognized compensation expense			$ 1,400,000
Unrecognized compensation expense, weighted average recognition period			7 months 6 days
PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense			$ 4,100,000	$ 2,700,000	$ 1,200,000
Unrecognized compensation expense			$ 4,300,000
Unrecognized compensation expense, weighted average recognition period			10 months 24 days
PSUs | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target award amount on number of shares granted			0%
PSUs | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target award amount on number of shares granted			200%

Stock Based Compensation - Summ

Stock Based Compensation - Summary of Stock Based Compensation Stock Awards (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
RSUs
Number of units
Number of units unvested, Beginning balance | shares	288,266
Number of units, Granted | shares	96,376
Number of units, Vested-issued | shares	(121,787)
Number of units, Vested-unissued | shares	(32,281)
Number of units unvested, Ending balance | shares	230,574
Weighted average grant date fair value
Weighted average grant date fair value unvested, Beginning balance | $ / shares	$ 10.24
Weighted average grant date fair value, Granted | $ / shares	15.65
Weighted average grant date fair value, Vested-issued | $ / shares	10.01
Weighted average grant date fair value, Vested-unissued | $ / shares	12.79
Weighted average grant date fair value unvested, Ending balance | $ / shares	$ 12.27
PSUs
Number of units
Number of units unvested, Beginning balance | shares	424,538
Number of units, Granted | shares	179,199
Number of units, Vested-issued | shares	(53,790)
Number of units, Forfeited | shares	(6,525)
Number of units unvested, Ending balance | shares	543,422
Weighted average grant date fair value
Weighted average grant date fair value unvested, Beginning balance | $ / shares	$ 12.14
Weighted average grant date fair value, Granted | $ / shares	15.85
Weighted average grant date fair value, Vested-issued | $ / shares	12.14
Weighted average grant date fair value, Forfeited | $ / shares	13.54
Weighted average grant date fair value unvested, Ending balance | $ / shares	$ 13.37

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Summary of Fair Value and Carrying Value of Debt Instruments (Details) - Recurring Measures at Fair Value - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated aggregate fair value	$ 655.6	$ 521
Aggregate carrying value	$ 671.3	$ 554.1

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Contingent Consideration Liabilities Recorded at Fair Value (Details) - Level 3 - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration	$ 4.6	$ 9.8	$ 2.8
Other Current Liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration	0.4	1.8
Other Liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration	$ 4.2	$ 8

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Summary of Changes to Level 3 Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Non-contingent reclass	$ (2)	$ (12.7)	$ (0.9)
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning balance	9.8	2.8
Acquisitions	0	6.9
Change in fair value	1.1	0.5
Payments	(1.2)	(0.4)
Non-contingent reclass	(5.1)
Ending balance	$ 4.6	$ 9.8	$ 2.8

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Additional Information (Details)	Dec. 31, 2023 USD ($)
Interest Rate Cap | SOFR
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notional amount	$ 200,000,000

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Summary of Maturity Dates Unit of Measure and Notional Value for Derivative Instruments (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)
Interest Rate Cap | One-month SOFR
Derivative [Line Items]
Notional value	$ 200,000,000
Maturity date of derivatives	2025-12
Fuel swaps | Gallons
Derivative [Line Items]
Notional value	$ 2,500,000
Maturity date of derivatives	various through June 2025

Fair Value of Financial Instr_8

Fair Value of Financial Instruments - Summary of Derivative Financial Instruments Measured at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Interest Rate Cap | Other Assets | Derivatives Designated as Hedges | Long Term
Derivative [Line Items]
Asset derivatives	$ 1.7	$ 3.5
Interest Rate Cap | Other Liabilities | Derivatives Designated as Hedges | Long Term
Derivative [Line Items]
Liability derivatives	1.6	3.4
Interest Rate Cap | Other Current Liabilities | Derivatives Designated as Hedges | Current Portion
Derivative [Line Items]
Liability derivatives	$ 1.6	1.6
Foreign Currency Contracts | Other Current Liabilities | Derivatives Not Designated as Hedge
Derivative [Line Items]
Liability derivatives		$ 0.2

Business Combinations - Summary

Business Combinations - Summary of Net Assets Acquired from Acquisition (Details) - USD ($) $ in Millions			12 Months Ended
	Nov. 01, 2023	Oct. 13, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill			$ 76.7	$ 69.2	$ 41.9
Net assets acquired net of cash			45.6	86.7	63.4
Material Handling
Business Acquisition [Line Items]
Goodwill			15	13.6	11.6
Construction Equipment
Business Acquisition [Line Items]
Goodwill			43.4	38	$ 30.3
Master Distribution
Business Acquisition [Line Items]
Goodwill			18.3	$ 17.6
Burris
Business Acquisition [Line Items]
Accounts receivable			1
Inventories			8.7
Prepaid expenses and other current assets			0.1
Rental fleet			10.8
Property and equipment			0.6
Operating lease right-of-use assets			1.7
Total assets			22.9
Floor plan payable - new equipment			(2.7)
Accounts payable			(0.8)
Accrued expenses			(1)
Current operating lease liabilities			(0.3)
Long-term operating lease liabilities			(1.4)
Total liabilities			(6.2)
Net assets acquired			16.7
Net assets acquired net of cash		$ 16.7	16.7
Ault
Business Acquisition [Line Items]
Cash			0.9
Accounts receivable			6.9
Inventories			28.9
Prepaid expenses and other current assets			0.7
Property and equipment			1.2
Operating lease right-of-use assets			1
Other intangible assets			13.8
Goodwill			5.4
Other assets			0.3
Total assets			59.1
Floor plan payable - new equipment			(6.5)
Accounts payable			(8.5)
Customer deposits			(0.1)
Accrued expenses			(1.5)
Current operating lease liabilities			(0.1)
Current deferred revenue			(0.6)
Long-term operating lease liabilities			(0.9)
Deferred tax liability			(2.9)
Total liabilities			(21.1)
Net assets acquired			38
Net assets acquired net of cash	$ 27.5		37.1
2022 Acquisitions
Business Acquisition [Line Items]
Cash			2.6
Accounts receivable			19.2
Inventories			19.9
Prepaid expenses and other current assets			0.9
Rental fleet			22.7
Property and equipment			2.6
Operating lease right-of-use assets			3.8
Other intangible assets			29.2
Goodwill			20.6
Total assets			121.5
Accounts payable			(9.8)
Customer deposits			(2.2)
Accrued expenses			(1.8)
Current operating lease liabilities			(0.9)
Current deferred revenue			(1.2)
Other current liabilities			(0.9)
Long-term operating lease liabilities			(2.9)
Deferred tax liability			(2.8)
Total liabilities			(22.5)
Net assets acquired			99
Net assets acquired net of cash			96.4
2022 Acquisitions | Material Handling
Business Acquisition [Line Items]
Cash			2.3
Accounts receivable			9.6
Inventories			7.6
Prepaid expenses and other current assets			0.1
Rental fleet			22.7
Property and equipment			2
Operating lease right-of-use assets			2.2
Other intangible assets			1.4
Goodwill			2.3
Total assets			50.2
Accounts payable			(1.5)
Accrued expenses			(1.6)
Current operating lease liabilities			(0.8)
Current deferred revenue			(1.2)
Long-term operating lease liabilities			(1.4)
Deferred tax liability			(2.8)
Total liabilities			(9.3)
Net assets acquired			40.9
Net assets acquired net of cash			38.6
2022 Acquisitions | Master Distribution
Business Acquisition [Line Items]
Cash			0.3
Accounts receivable			9.6
Inventories			12.3
Prepaid expenses and other current assets			0.8
Property and equipment			0.6
Operating lease right-of-use assets			1.6
Other intangible assets			27.8
Goodwill			18.3
Total assets			71.3
Accounts payable			(8.3)
Customer deposits			(2.2)
Accrued expenses			(0.2)
Current operating lease liabilities			(0.1)
Other current liabilities			(0.9)
Long-term operating lease liabilities			(1.5)
Total liabilities			(13.2)
Net assets acquired			58.1
Net assets acquired net of cash			$ 57.8

Business Combinations - Additio

Business Combinations - Additional Information (Details) $ / shares in Units, $ in Millions					12 Months Ended
	Nov. 01, 2023 USD ($) $ / shares shares	Oct. 13, 2023 USD ($)	Nov. 01, 2022 USD ($) Dealer	Jul. 29, 2022 USD ($)	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Net assets acquired net of cash					$ 45.6	$ 86.7	$ 63.4
Common stock, par value per share | $ / shares					$ 0.0001	$ 0.0001
Burris Equipment Company
Business Acquisition [Line Items]
Net assets acquired net of cash		$ 16.7			$ 16.7
Net working capital		$ 2.7
Ault
Business Acquisition [Line Items]
Net assets acquired net of cash	$ 27.5				37.1
Expected excess working capital	2.2
Total purchase price	38
Asset acquired seller note	2
Ault | Common Stock
Business Acquisition [Line Items]
Asset acquired, common stock	$ 6.3
Common stock, par value per share | $ / shares	$ 13
Number of shares vesting | shares	819,398
Vesting period	5 years
M&G Materials Handling Co. and Battery Shop of New England Inc.
Business Acquisition [Line Items]
Net assets acquired net of cash					$ 2.6
Ecoverse
Business Acquisition [Line Items]
Number of sub dealers acquired | Dealer			15
Total purchase price			$ 58.1
Yale Industrial Trucks Inc.
Business Acquisition [Line Items]
Total purchase price				$ 40.6

Union Pension Plan - Additional

Union Pension Plan - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Multiemployer Plan [Abstract]
Total contributions to plan	5%	5%	5%

Union Pension Plan - Summary of

Union Pension Plan - Summary of Multiple Employer Pension Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Multiemployer Plans [Line Items]
Entity Tax Identification Number	83-2583782
Contributions by Company	$ 5.9	$ 4.8	$ 3.9
Midwest Operating Engineers Local Union No. 150 Pension Trust Fund
Multiemployer Plans [Line Items]
Entity Tax Identification Number	36-6140097
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status	Mar. 31, 2023	Mar. 31, 2022
Contributions by Company	$ 2.8	$ 2.4	2.2
Surcharge Imposed	No
Expiration Date of Collective-Bargaining	May 31, 2024
Operating Engineers Local Union No. 324 Pension Fund
Multiemployer Plans [Line Items]
Entity Tax Identification Number	38-1900637
Pension Protection Act Zone Status	Red	Red
Pension Protection Act Zone Status	Apr. 30, 2023	Apr. 30, 2022
FIP/RP Status	Implemented
Contributions by Company	$ 1.6	$ 1.2	0.9
Surcharge Imposed	Yes
Expiration Date of Collective-Bargaining	Sep. 30, 2024
All Other Multiemployer Pension Plans
Multiemployer Plans [Line Items]
Contributions by Company	$ 1.5	$ 1.2	$ 0.8

Segments - Additional Informati

Segments - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segments - Schedule of Results

Segments - Schedule of Results of Operations by Reportable Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 1,876.8	$ 1,571.8	$ 1,212.8
Interest expense	57	31.8	24
Depreciation and amortization	132.6	112	95.8
Income (loss) before taxes	2.5	10.6	(17.2)
Operating Segments | Material Handling
Segment Reporting Information [Line Items]
Total revenues	681.5	570.7	467.5
Interest expense	18.1	11.7	8.2
Depreciation and amortization	34.9	26.8	19.3
Income (loss) before taxes	14.7	17.1	10.2
Operating Segments | Construction Equipment
Segment Reporting Information [Line Items]
Total revenues	1,124.7	995.8	745.3
Interest expense	33.1	17.7	13.9
Depreciation and amortization	92.5	84.6	76.5
Income (loss) before taxes	7	14.2	(2.9)
Operating Segments | Master Distribution
Segment Reporting Information [Line Items]
Total revenues	83.8	6.7
Interest expense	3.4	0.5
Depreciation and amortization	4.4	0.6
Income (loss) before taxes	4.1	(1.5)
Corporate, Non-Segment | Corporate and Other
Segment Reporting Information [Line Items]
Total revenues	(13.2)	(1.4)
Interest expense	2.4	1.9	1.9
Depreciation and amortization	0.8
Income (loss) before taxes	(23.3)	(19.2)	(24.5)
New and Used Equipment Sales
Segment Reporting Information [Line Items]
Total revenues	1,025.9	817.2	568.8
New and Used Equipment Sales | Operating Segments | Material Handling
Segment Reporting Information [Line Items]
Total revenues	367.6	305.2	258.3
New and Used Equipment Sales | Operating Segments | Construction Equipment
Segment Reporting Information [Line Items]
Total revenues	597.9	508.2	310.5
New and Used Equipment Sales | Operating Segments | Master Distribution
Segment Reporting Information [Line Items]
Total revenues	72.5	5
New and Used Equipment Sales | Corporate, Non-Segment | Corporate and Other
Segment Reporting Information [Line Items]
Total revenues	(12.1)	(1.2)
Parts Sales
Segment Reporting Information [Line Items]
Total revenues	278.3	234.8	178.5
Parts Sales | Operating Segments | Material Handling
Segment Reporting Information [Line Items]
Total revenues	99.5	84.4	65.4
Parts Sales | Operating Segments | Construction Equipment
Segment Reporting Information [Line Items]
Total revenues	170.1	149	113.1
Parts Sales | Operating Segments | Master Distribution
Segment Reporting Information [Line Items]
Total revenues	9.8	1.6
Parts Sales | Corporate, Non-Segment | Corporate and Other
Segment Reporting Information [Line Items]
Total revenues	(1.1)	(0.2)
Service Revenues
Segment Reporting Information [Line Items]
Total revenues	241.3	206.6	165.5
Service Revenues | Operating Segments | Material Handling
Segment Reporting Information [Line Items]
Total revenues	132.8	112.1	94.6
Service Revenues | Operating Segments | Construction Equipment
Segment Reporting Information [Line Items]
Total revenues	108.2	94.4	70.9
Service Revenues | Operating Segments | Master Distribution
Segment Reporting Information [Line Items]
Total revenues	0.3	0.1
Rental Revenues
Segment Reporting Information [Line Items]
Total revenues	202.4	180.1	155.5
Rental Revenues | Operating Segments | Material Handling
Segment Reporting Information [Line Items]
Total revenues	76.4	63.5	48.4
Rental Revenues | Operating Segments | Construction Equipment
Segment Reporting Information [Line Items]
Total revenues	124.8	116.6	107.1
Rental Revenues | Operating Segments | Master Distribution
Segment Reporting Information [Line Items]
Total revenues	1.2
Rental Equipment Sales
Segment Reporting Information [Line Items]
Total revenues	128.9	133.1	144.5
Rental Equipment Sales | Operating Segments | Material Handling
Segment Reporting Information [Line Items]
Total revenues	5.2	5.5	0.8
Rental Equipment Sales | Operating Segments | Construction Equipment
Segment Reporting Information [Line Items]
Total revenues	$ 123.7	$ 127.6	$ 143.7

Segments - Summary of Identifie

Segments - Summary of Identified Assets by Reportable Segment (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 1,570.9	$ 1,290.6
Corporate and Other
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	63.1	21.2
Operating Segments | Material Handling
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	474.3	416.3
Operating Segments | Construction Equipment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	947.6	775.5
Operating Segments | Master Distribution
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 85.9	$ 77.6

Earnings Per Share - Summary of

Earnings Per Share - Summary of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Basic net income (loss) per share
Net income (loss) available to common stockholders	$ 5.9	$ 6.3	$ (23.4)
Basic weighted average common shares outstanding	32,447,754	32,099,247	31,706,329
Basic net income (loss) per share of common stock	$ 0.18	$ 0.2	$ (0.74)
Diluted income (loss) per share
Net income (loss) available to common stockholders	$ 5.9	$ 6.3	$ (23.4)
Basic weighted average common shares outstanding	32,447,754	32,099,247	31,706,329
Effect of dilutive securities:
Effect of dilutive securities	429,753	202,416
Diluted weighted average common shares outstanding	32,877,507	32,301,663	31,706,329
Diluted net income (loss) per share of common stock	$ 0.18	$ 0.2	$ (0.74)

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021 shares
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	174,000

Derivatives - Additional Inform

Derivatives - Additional Information (Details)	Dec. 31, 2023 USD ($)
Interest Rate Cap | One-month SOFR
Derivative [Line Items]
Notional amount	$ 200,000,000

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Receivables Allowances
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period		$ 13	$ 10.7	$ 7.1
Changes, Charged to Expense		7.2	5	4.2
Changes, Other	[1],[2]	0.5
Changes, Deductions from Reserves		(8.3)	(2.7)	(0.6)
Balance at End of Period		12.4	13	10.7
Tax Valuation Allowances
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period		8.8	7.6
Changes, Charged to Expense		(8.4)	0.8	7.6
Changes, Other	[1],[2]	$ (0.4)	0.4
Balance at End of Period			$ 8.8	$ 7.6
[1] Other for receivables includes changes associated with adoption of Current Expected Credit Loss model as of January 1, 2023. Other for tax valuation allowance includes changes associated with change in valuation allowance from OCI and prior year adjustments