Alta Equipment (ALTG) 10-Q 7 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 05, 2024
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
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 Quarterly Report	true
Document Transition Report	false
Entity Common Stock Shares Outstanding		33,092,539
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

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
ASSETS
Cash	$ 4.5	$ 31
Accounts receivable, net of allowances of $14.5 and $12.4 as of June 30, 2024 and December 31, 2023, respectively	251.9	249.3
Inventories, net	547.3	530.7
Prepaid expenses and other current assets	32.2	27
Total current assets	835.9	838
NON-CURRENT ASSETS
Property and equipment, net	485.4	464.8
Operating lease right-of-use assets, net	110.1	110.9
Goodwill	78.1	76.7
Other intangible assets, net	61.2	66.3
Other assets	20.6	14.2
TOTAL ASSETS	1,591.3	1,570.9
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current portion of long-term debt	9.4	7.7
Accounts payable	93.8	97
Customer deposits	19.1	17.4
Accrued expenses	52.5	59.7
Current operating lease liabilities	15.5	15.9
Current deferred revenue	14.6	16.2
Other current liabilities	7.2	23.9
Total current liabilities	610.4	635.1
NON-CURRENT LIABILITIES
Lines of credit, net	214.2	315.9
Long-term debt, net of current portion	477.4	312.3
Finance lease obligations, net of current portion	35.7	31.1
Deferred revenue, net of current portion	4.1	4.2
Long-term operating lease liabilities, net of current portion	99.7	99.6
Deferred tax liabilities	10.8	7.7
Other liabilities	13.8	15.3
TOTAL LIABILITIES	1,466.1	1,421.2
CONTINGENCIES - NOTE 11
STOCKHOLDERS’ EQUITY
Preferred stock, $0.0001 par value per share, 1,000,000 shares authorized, 1,200 shares issued and outstanding at both June 30, 2024 and December 31, 2023 (1,200,000 Depositary Shares representing a 1/1000th fractional interest in a share of 10% Series A Cumulative Perpetual Preferred Stock)
Common stock, $0.0001 par value per share, 200,000,000 shares authorized; 32,950,141 and 32,369,820 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively
Additional paid-in capital	240.7	233.8
Treasury stock at cost, 1,093,516 and 862,182 shares of common stock held at both June 30, 2024 and December 31, 2023, respectively	(7.9)	(5.9)
Accumulated deficit	(105.6)	(76.4)
Accumulated other comprehensive loss	(2)	(1.8)
TOTAL STOCKHOLDERS’ EQUITY	125.2	149.7
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	1,591.3	1,570.9
New Equipment
LIABILITIES AND STOCKHOLDERS’ EQUITY
Floor plan payable	298.4	297.8
Used and Rental Equipment
LIABILITIES AND STOCKHOLDERS’ EQUITY
Floor plan payable	$ 99.9	$ 99.5

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Accounts receivable, net of allowances | $	$ 14.5	$ 12.4
Preferred stock, par value per share | $ / shares	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	1,200	1,200
Preferred stock, shares outstanding	1,200	1,200
Common stock, par value per share | $ / shares	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	32,950,141	32,369,820
Common stock, shares outstanding	32,950,141	32,369,820
Treasury stock, common shares	1,093,516	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 per share | $ / shares	$ 0.0001	$ 0.0001
Depositary receipt ratio	0.001	0.001
Preferred stock, dividend rate, percentage	10%	10%

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Total revenues	$ 488.1	$ 468.4	$ 929.7	$ 889.1
Cost of revenues:
Total cost of revenues	356.1	341.6	677.1	641
Gross profit	132	126.8	252.6	248.1
General and administrative expenses	114.5	105.2	229.1	209.2
Non-rental depreciation and amortization	7.2	5.4	14.1	10.6
Total operating expenses	121.7	110.6	243.2	219.8
Income from operations	10.3	16.2	9.4	28.3
Other (expense) income:
Interest expense, floor plan payable – new equipment	(2.7)	(1.9)	(5.5)	(3.4)
Interest expense – other	(16.5)	(11.8)	(29.8)	(22.3)
Other income	1	0.2	1.9	1.2
Loss on extinguishment of debt	(6.7)		(6.7)
Total other expense, net	(24.9)	(13.5)	(40.1)	(24.5)
(Loss) income before taxes	(14.6)	2.7	(30.7)	3.8
Income tax (benefit) provision	(2.7)	0.3	(6.9)	0.4
Net (loss) income	(11.9)	2.4	(23.8)	3.4
Preferred stock dividends	(0.7)	(0.7)	(1.5)	(1.5)
Net (loss) income available to common stockholders	$ (12.6)	$ 1.7	$ (25.3)	$ 1.9
Basic (loss) income per share	$ (0.38)	$ 0.05	$ (0.76)	$ 0.06
Diluted (loss) income per share	$ (0.38)	$ 0.05	$ (0.76)	$ 0.06
Basic weighted average common shares outstanding	33,239,620	32,368,112	33,174,158	32,296,067
Diluted weighted average common shares outstanding	33,239,620	32,731,422	33,174,158	32,581,469
New and Used Equipment Sales
Revenues:
Total revenues	$ 251.5	$ 254.6	$ 480.1	$ 474.2
Cost of revenues:
Total cost of revenues	211.9	210.3	404.3	389.3
Parts Sales
Revenues:
Total revenues	78	71.3	150.9	139.7
Cost of revenues:
Total cost of revenues	50.9	47.5	99.2	92.9
Service Revenues
Revenues:
Total revenues	66.2	59.7	130.2	119.9
Cost of revenues:
Total cost of revenues	26.9	25.4	53.9	50.5
Rental Revenues
Revenues:
Total revenues	53.7	49.6	102.2	93.1
Cost of revenues:
Total cost of revenues	6.2	6.2	12.9	12.3
Rental Equipment Sales
Revenues:
Total revenues	38.7	33.2	66.3	62.2
Cost of revenues:
Total cost of revenues	29.4	24.6	48.9	45.5
Rental Depreciation
Cost of revenues:
Total cost of revenues	$ 30.8	$ 27.6	$ 57.9	$ 50.5

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Unaudited) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net (loss) income		$ (11.9)	$ 2.4	$ (23.8)	$ 3.4
Other comprehensive income (loss):
Foreign currency translation adjustments		(0.5)	0.7	(1.6)	0.8
Change in fair value of derivatives, net of tax		0.7	1.6	1.4	1.2
Total other comprehensive income (loss)	[1]	0.2	2.3	(0.2)	2
Comprehensive (loss) income		$ (11.7)	$ 4.7	$ (24)	$ 5.4
[1] There were no material reclassifications from Accumulated other comprehensive (loss) income reflected in Total other comprehensive income (loss) for the three and six months ended June 30, 2024 and 2023. There were no material taxes associated with Total other comprehensive income (loss) for the three and six months ended June 30, 2024 and 2023 .

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Parenthetical) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Reclassifications from Accumulated other comprehensive (loss) income	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS 'EQUITY (Unaudited) - 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, 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)	1					1
Dividends on preferred stock	(0.8)					(0.8)
Dividends on common stock	(1.9)					(1.9)
Impact of adoption of new accounting standard		$ (0.5)					$ (0.5)
Stock-based compensation	0.8				0.8
Stock-based compensation, shares				173,869
Foreign currency translation adjustments	0.1								0.1
Change in fair value of derivatives, net of tax	(0.4)								(0.4)
Balance at Mar. 31, 2023	138.1				223.6	(76.4)		(5.9)	(3.2)
Balance, shares at Mar. 31, 2023			1,200,000	32,368,112
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)	3.4
Foreign currency translation adjustments	0.8
Change in fair value of derivatives, net of tax	1.2
Balance at Jun. 30, 2023	141.4				224.7	(76.5)		(5.9)	(0.9)
Balance, shares at Jun. 30, 2023			1,200,000	32,368,112
Balance at Mar. 31, 2023	138.1				223.6	(76.4)		(5.9)	(3.2)
Balance, shares at Mar. 31, 2023			1,200,000	32,368,112
Net income (loss)	2.4					2.4
Dividends on preferred stock	(0.7)					(0.7)
Dividends on common stock	(1.8)					(1.8)
Stock-based compensation	1.1				1.1
Foreign currency translation adjustments	0.7								0.7
Change in fair value of derivatives, net of tax	1.6								1.6
Balance at Jun. 30, 2023	141.4				224.7	(76.5)		(5.9)	(0.9)
Balance, shares at Jun. 30, 2023			1,200,000	32,368,112
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
Net income (loss)	(11.9)					(11.9)
Dividends on preferred stock	(0.8)					(0.8)
Dividends on common stock	(1.9)					(1.9)
Stock-based compensation including employee stock purchase plan	2.2				2.2
Stock-based compensation including employee stock purchase plan, shares				435,539
Foreign currency translation adjustments	(1.1)								(1.1)
Change in fair value of derivatives, net of tax	0.7								0.7
Balance at Mar. 31, 2024	136.9				236	(91)		(5.9)	(2.2)
Balance, shares at Mar. 31, 2024			1,200,000	32,805,359
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
Net income (loss)	(23.8)
Foreign currency translation adjustments	(1.6)
Change in fair value of derivatives, net of tax	1.4
Balance at Jun. 30, 2024	125.2				240.7	(105.6)		(7.9)	(2)
Balance, shares at Jun. 30, 2024			1,200,000	32,950,141
Balance at Mar. 31, 2024	136.9				236	(91)		(5.9)	(2.2)
Balance, shares at Mar. 31, 2024			1,200,000	32,805,359
Net income (loss)	(11.9)					(11.9)
Dividends on preferred stock	(0.7)					(0.7)
Dividends on common stock	(2)					(2)
Stock-based compensation including employee stock purchase plan	1.3				1.3
Stock-based compensation including employee stock purchase plan, shares				36,269
Acquisition contingent consideration, Shares				339,847
Acquisition contingent consideration	3.4				3.4
Foreign currency translation adjustments	(0.5)								(0.5)
Change in fair value of derivatives, net of tax	0.7								0.7
Repurchase of common stock, shares				(231,334)
Repurchase of common stock	(2)							(2)
Balance at Jun. 30, 2024	$ 125.2				$ 240.7	$ (105.6)		$ (7.9)	$ (2)
Balance, shares at Jun. 30, 2024			1,200,000	32,950,141

CONDENS ED CONSOLIDATED STATEME

CONDENS ED CONSOLIDATED STATEMENTS OF STOCKHOLDERS ' EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends on preferred stock per share	$ 0.625	$ 0.625	$ 0.625	$ 0.625
Dividends on common stock and dividend equivalent on stock-based compensation, per share	$ 0.057	$ 0.057	$ 0.057	$ 0.057

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
OPERATING ACTIVITIES
Net (loss) income	$ (11.9)	$ (11.9)	$ 2.4	$ 1	$ (23.8)	$ 3.4
Adjustments to reconcile net (loss) income to net cash flows used in operating activities:
Depreciation and amortization					72	61.1
Amortization of debt discount and debt issuance costs					1.1	0.8
Imputed interest					0.2	0.5
Loss (gain) on sale of property and equipment						0.3
Gain on sale of rental equipment					(17.4)	(16.7)
Provision for inventory obsolescence					0.5	1.2
Provision for losses on accounts receivable					3.5	3.4
Loss on debt extinguishment	6.7				6.7
Change in fair value of derivative instruments					(0.2)	0.5
Stock based compensation expense					2.6	1.9
Changes in deferred income taxes					(6.8)
Changes in assets and liabilities, net of acquisitions:
Accounts receivable					(6.5)	1.5
Inventories					(109.6)	(200.6)
Proceeds from sale of rental equipment					66.3	62.2
Prepaid expenses and other assets						(7.6)
Manufacturers floor plans payable					5.2	86.1
Accounts payable, accrued expenses, customer deposits, and other current liabilities					(14.5)	(27.7)
Leases, deferred revenue, net of current portion and other liabilities					(0.3)	(4.1)
Net cash used in operating activities					(21)	(33.8)
INVESTING ACTIVITIES
Expenditures for rental equipment					(30.6)	(32.3)
Expenditures for property and equipment					(7.2)	(6.1)
Proceeds from sale of property and equipment					1.9	0.7
Acquisitions of businesses, net of cash acquired						(1.4)
Other investing activities					(1.5)	(1.5)
Net cash used in investing activities					(37.4)	(40.6)
FINANCING ACTIVITIES
Expenditures for debt issuance costs					(1.8)
Extinguishment of long-term debt					(319.4)
Proceeds from line of credit and long-term borrowings					849.3	203.5
Principal payments on line of credit, long-term debt and finance lease obligations					(476.2)	(133.5)
Proceeds from non-manufacturer floor plan payable					79.5	103.5
Payments on non-manufacturer floor plan payable					(82.8)	(98.5)
Preferred stock dividends paid					(1.5)	(1.5)
Common stock dividends declared and paid					(3.9)	(3.7)
Repurchases of common stock					(2)
Other financing activities					(9.1)	4.3
Net cash provided by financing activities					32.1	74.1
Effect of exchange rate changes on cash					(0.2)	(0.1)
NET CHANGE IN CASH					(26.5)	(0.4)
Cash, Beginning of year		$ 31		$ 2.7	31	2.7	$ 2.7
Cash, End of period	$ 4.5		$ 2.3		4.5	2.3	$ 31
Noncash asset purchases:
Net transfer of assets from inventory to rental fleet within property and equipment					83	96.4
Contingent and non-contingent consideration for business acquisitions					0.5
Supplemental disclosures of cash flow information
Cash paid for interest					32.5	24.1
Cash paid for income taxes					$ 1.3	$ 1.3

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (11.9)	$ 2.4	$ (23.8)	$ 3.4

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	During the three months ended June 30, 2024 , none of the Company’s directors or officers (as defined in Rule 16a-1(f) of the Securities Exchange Act of 1934) adopted , terminated or modified a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of Regulation S-K).
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b51 Arr Modified	false
Non Rule 10b51 Arr Modified	false

Organization and Nature of Oper

Organization and Nature of Operations	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF OPERATIONS	NOTE 1 — ORGANIZATION A ND 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 unaudited condensed consolidated financial statements refers to Alta Equipment Group Inc. and its consolidated subsidiaries. Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements include the consolidated accounts of the Company and its subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In our opinion, all adjustments, consisting of all normal and recurring adjustments, considered necessary for a fair presentation of our financial position, results of operations and cash flows for the periods presented have been included. These unaudited condensed consolidated financial statements should be read in conjunction with the 2023 Form 10-K. All intercompany transactions and balances have been eliminated in the preparation of the condensed consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SUMMARY OF SIGNIF ICANT ACCOUNTING POLICIES We describe our significant accounting policies in Note 2 of the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2023. During the three and six months ended June 30, 2024, there were no significant changes to those accounting policies. Use of Estimates The preparation of condensed 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 condensed 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. New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("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 guidance on our 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 guidance on our 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 our consolidated financial statements or do not apply to us.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	NOTE 3 — REVEN UE RECOGNITION We recognize revenue in accordance with two different accounting standards: 1) Topic 606, Revenues from Contracts with Customers ("Topic 606") and 2) Topic 842, Leases , ("Topic 842"). Disaggregation of Revenues The following tables summarize the Company’s disaggregated revenues as presented in the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 by revenue type and the applicable accounting standard. Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: New and used equipment sales $ — $ 251.5 $ 251.5 $ — $ 254.6 $ 254.6 Parts sales — 78.0 78.0 — 71.3 71.3 Service revenues — 66.2 66.2 — 59.7 59.7 Rental revenues 53.7 — 53.7 49.6 — 49.6 Rental equipment sales — 38.7 38.7 — 33.2 33.2 Total revenues $ 53.7 $ 434.4 $ 488.1 $ 49.6 $ 418.8 $ 468.4 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: New and used equipment sales $ — $ 480.1 $ 480.1 $ — $ 474.2 $ 474.2 Parts sales — 150.9 150.9 — 139.7 139.7 Service revenues — 130.2 130.2 — 119.9 119.9 Rental revenues 102.2 — 102.2 93.1 — 93.1 Rental equipment sales — 66.3 66.3 — 62.2 62.2 Total revenues $ 102.2 $ 827.5 $ 929.7 $ 93.1 $ 796.0 $ 889.1 The Company believes that the disaggregation of revenues from contracts with 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 16, 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 revenues 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 Condensed Consolidated Balance Sheets. Rental equipment may also be purchased outright (“Rental equipment sales”) by our customers. Rental revenues and revenues attributable to rental equipment sales are recognized in "Rental revenues" and "Rental equipment sales" on the Condensed Consolidated Statements of Operations, 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, revenues are 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 $ 2.6 million and $ 7.4 million for the three months ended June 30, 2024 and 2023, respectively, and $ 5.5 million and $ 14.2 million for the six months ended June 30, 2024 and 2023, 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 related to automated equipment installation and warehouse management systems integration. These revenues are 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 $ 13.5 million and $ 16.2 million in project-based revenues for the three months ended June 30, 2024 and 2023 respectively, and $ 30.5 million and $ 39.3 million in project-based revenues for the six months ended June 30, 2024 and 2023, 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 at the time such services are completed for parts associated with periodic maintenance services. 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 . Revenues recognized from guaranteed maintenance contracts totaled $ 5.5 million and $ 5.7 million for the three months ended June 30, 2024 and 2023, respectively, and $ 11.0 million and $ 12.0 million for the six months ended June 30, 2024 and 2023, respectively. The Company also records service revenues from warranty contracts whereby the Company performs service on behalf of an Original Equipment Manufacturer (“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 concurrently with the title. 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 (e.g., a sales commission). Most of the Company’s revenues are 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 us 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 revenues 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 June 30, 2024 and December 31, 2023 were $ 4.9 million and $ 4.5 million, respectively. Deferred revenue (contract liabilities) includes the unearned portion of project-based revenues, revenues related to guaranteed maintenance contracts for customers covering equipment previously purchased, and deferred revenue related to rental agreements. Total deferred revenue relating to project-based revenues, guaranteed maintenance contracts, and equipment rental agreements as of June 30, 2024 and December 31, 2023 was $ 18.7 million and $ 20.4 million, respectively. For the three and six months ended June 30, 2024, the Company recognized revenues of $ 2.2 million and $ 10.3 million, respectively, from the prior year ending deferred revenue balance. For the three and six months ended June 30, 2023, the Company recognized revenue of $ 3.8 million and $ 11.3 million, respectively, from the December 31, 2022 deferred revenue balance.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 4 — RELATED PARTY TRANSACTIONS Our Chief Executive Officer ("CEO"), Chief Financial Officer, and Chief Operating Officer 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. During the three and six months ended June 30, 2024 the Company purchased $ 0.6 million and $ 1.2 million of hydrogen fuel from OneH2, respectively, and during the three and six months ended June 30, 2023, the Company purchased $ 0.1 million and $ 0.3 million of hydrogen fuel from OneH2, respectively. During both the six months ended June 30, 2024 and 2023, the Company paid OneH2 $ 1.1 million , as part of the Company's total investment to date of $ 5.3 million to build and commercialize a hydrogen production plant for the Company which we expect to become operational in the fourth quarter of 2024.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 5 — INVENTORIES Inventories, net, consisted of the following: June 30, December 31, 2024 2023 New equipment $ 390.6 $ 373.6 Used equipment 52.9 54.6 Work in process 8.3 8.2 Parts 103.7 101.9 Gross inventory 555.5 538.3 Inventory reserves ( 8.2 ) ( 7.6 ) Inventories, net $ 547.3 $ 530.7 Direct labor of $ 1.0 million and $ 1.2 million incurred for open service orders were capitalized and included in work in process as of June 30, 2024 and December 31, 2023, respectively. The remaining work in process balances as of June 30, 2024 and December 31, 2023 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 $ 4.0 million and $ 3.1 million for the three months ended June 30, 2024 and 2023, respectively, and $ 7.1 million and $ 5.6 million for the six months ended June 30, 2024 and 2023 , respectively.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 6 — PROPER TY AND EQUIPMENT Property and equipment, net, consisted of the following: June 30, December 31, 2024 2023 Land $ 3.2 $ 2.1 Rental fleet 617.2 600.8 Buildings, equipment, and leasehold improvements: Machinery and equipment 9.6 8.5 Autos and trucks 7.7 7.7 Buildings and leasehold improvements 21.9 20.8 Construction in progress 6.9 6.1 Finance lease right-of-use assets 58.4 48.4 Office equipment 5.5 4.9 Computer equipment 14.3 13.3 Total cost 744.7 712.6 Less: accumulated depreciation and amortization: Rental fleet ( 212.9 ) ( 209.4 ) Buildings, equipment, autos and trucks, leasehold improvements, finance leases and office and computer equipment ( 46.4 ) ( 38.4 ) Total accumulated depreciation and amortization ( 259.3 ) ( 247.8 ) Property and equipment, net $ 485.4 $ 464.8 Total depreciation and amortization on property and equipment was $ 31.4 million and $ 27.7 million for the three months ended June 30, 2024 and 2023, respectively, and $ 59.7 million and $ 51.1 million for the six months ended June 30, 2024 and 2023 , respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2024
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 for the six months ended June 30, 2024: Material Construction Master Distribution Total Balance, December 31, 2023 $ 15.0 $ 43.4 $ 18.3 $ 76.7 Adjustments to purchase price allocations — 1.5 — 1.5 Translation adjustments ( 0.1 ) — — ( 0.1 ) Balance, June 30, 2024 $ 14.9 $ 44.9 $ 18.3 $ 78.1 Goodwill is tested for impairment by reporting unit annually or more frequently if events or circumstances indicate that an impairment may exist. There were no indicators of potential impairment during the three and six months ended June 30, 2024. See Note 15, Business Combinations, for further information. The gross carrying amount of intangible assets and accumulated amortization as of June 30, 2024 and December 31, 2023 were as follows: June 30, 2024 Weighted Average Remaining Life (in years) Gross carrying Accumulated Net carrying Customer and supplier relationships 7.1 $ 73.8 $ ( 20.6 ) $ 53.2 Other intangibles 3.5 14.5 ( 6.5 ) 8.0 Total 6.6 $ 88.3 $ ( 27.1 ) $ 61.2 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 Amortization of intangible assets was $ 2.6 million and $ 2.2 million for the three months ended June 30, 2024 and 2023, respectively, and $ 5.2 million and $ 4.4 million for the six months ended June 30, 2024 and 2023, respectively.

Floor Plans

Floor Plans	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
FLOOR PLANS	NOTE 8 — FLOOR PLANS Floor Plan — First Lien Lenders In April 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 5, 2024, the Floor Plan Credit Agreement was amended to extend the maturity date to June 1, 2029 and increase the maximum borrowing capacity to $ 90.0 million. The interest cost for the First Lien Floor Plan Facility is the Secured Overnight Financing Rate ("SOFR") plus an applicable margin. The First Lien Floor Plan Facility is collateralized by substantially all assets of the Company. As of June 30, 2024 and December 31, 2023, the Company had an outstanding balance on our First Lien Floor Plan Facility of $ 64.2 million and $ 67.4 million, respectively, excluding unamortized debt issuance costs. The effective interest rate at both June 30, 2024 and December 31, 2023 was 8.2 % . 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 $ 160.0 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. 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, ranged from 8.3 % to 10.5 % as of June 30, 2024 and 8.4 % to 10.5 % as of December 31, 2023. As of June 30, 2024 and December 31, 2023, the Company had an outstanding balance on the OEM Floor Plan Facilities of $ 334.6 million and $ 330.1 million, respectively. The total aggregate amount of financing under the Floor Plan Facilities cannot exceed $ 450.0 million at any time, which is subject to a 10 % annual increase. To better align with our business operations, on February 28, 2024 the Company amended our 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 June 30, 2024 and December 31, 2023, was $ 398.8 million and $ 397.5 million, respectively, excluding unamortized debt issuance costs. For the three months ended June 30, 2024 and 2023, the Company recognized interest expense associated with new equipment financed under our Floor Plan Facilities of $ 2.7 million and $ 1.9 million, respectively, and for the six months ended June 30, 2024 and 2023 , $ 5.5 million and $ 3.4 million, respectively. The weighted average rate, excluding the favorable effect of interest-free periods, on the Company's Floor Plan Facilities was 8.8 % and 7.7 % as of June 30, 2024 and 2023 , respectively.

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
LONG-TERM DEBT	NOTE 9 — LO NG-TERM DEBT Line of Credit — First Lien Lenders In April 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. 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 5, 2024, the Company amended the ABL Facility primarily to extend the maturity date and increase the facility size. The borrowing capacity on the ABL Facility, which expires June 1, 2029 , was increased to $ 520.0 million, which includes a $ 45.0 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 June 30, 2024 and December 31, 2023, the Company had an outstanding ABL Facility balance of $ 217.6 million and $ 317.5 million, respectively, excluding unamortized debt issuance costs. The effective interest rate was 7.2 % at both June 30, 2024 and December 31, 2023. Maximum borrowings under the Floor Plan Facilities and ABL Facility are limited to $ 970.0 million unless certain other conditions are met. The total amount outstanding as of June 30, 2024 and December 31, 2023, was $ 616.4 million and $ 715.0 million, exclusive of debt issuance and deferred financing costs of $ 3.9 million and $ 1.8 million, respectively. Senior Secured Second Lien Notes On June 5, 2024, 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 variable interest rate exposure, providing liquidity for general corporate purposes, and for financing of future growth initiatives. The Company sold $ 500.0 million of Notes at the rate of 9.000 % per annum, which are due on June 1, 2029. Interest on the Notes is payable in cash on June 1 and December 1 of each year, commencing on December 1, 2024. 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 domestic subsidiaries of the Company (as 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. The Notes and the guarantors thereof 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 June 30, 2024, outstanding borrowings under the Notes were $ 477.4 million, which included $ 22.6 million deferred financing costs and original issue discounts. The effective interest rate on the Notes, taking into account the original issue discount, is 10.1 % . Extinguishment of Debt In the second quarter of 2024, in connection with the issuance of the Notes, the Company extinguished our previously issued Senior Secured Second Lien Notes due April 15, 2026. The Company recorded a loss on the extinguishment in the amount of $ 6.7 million in the line item "Loss on extinguishment of debt" in our Condensed Consolidated Statements of Operations. The Company’s long-term debt consists of the following: June 30, December 31, 2024 2023 Line of credit $ 217.6 $ 317.5 Senior secured second lien notes 500.0 315.0 Unamortized debt issuance costs ( 4.9 ) ( 2.2 ) Debt discount ( 21.1 ) ( 2.1 ) Finance leases 45.1 38.8 Total debt and finance leases 736.7 667.0 Less: current maturities ( 9.4 ) ( 7.7 ) Long-term debt and finance leases, net $ 727.3 $ 659.3 As of June 30, 2024, the Company was in compliance with the financial covenants set forth in our debt agreements. Notes Payable – Non-Contingent Consideration The following table sets forth the Company’s non-contingent consideration liabilities measured and recorded at the present value of minimum cash payments, using a market participant discount rate, as of June 30, 2024 and December 31, 2023, and their presentation on the Condensed Consolidated Balance Sheets related to the Company's acquisitions of Ault Industries Inc. (“Ault”), Ecoverse Industries, LTD ("Ecoverse"), Peaklogix LLC ("Peaklogix") and Ginop Sales, Inc. June 30, December 31, Location on Balance Sheet 2024 2023 Other current liabilities $ 2.8 $ 7.4 Other liabilities 6.2 6.5 Total $ 9.0 $ 13.9 See Note 14, Fair Value of Financial Instruments, and Note 15, Business Combinations, for further information.

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
LEASES	NOTE 10 — LEASES The Company primarily has third-party operating and finance leases for branch facilities, corporate office, and certain equipment. The Company has one operating lease with a related party. 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 Condensed 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 June 30, 2024 and December 31, 2023, assets recorded under finance leases, net of accumulated depreciation were $ 43.3 million and $ 37.6 million, respectively. The assets are depreciated over the lesser of their remaining lease terms or estimated useful lives. The components of lease expense were as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease expense $ 6.4 $ 6.5 $ 13.2 $ 13.4 Short-term lease expense 1.5 1.2 3.9 2.9 Low-value lease expense 0.4 0.2 0.7 0.5 Variable lease expense 2.6 2.1 5.3 4.2 Finance lease expense: Amortization of right-of-use assets 2.5 1.4 4.8 2.7 Interest on lease liabilities 0.9 0.6 1.8 1.1 Sublease income ( 0.1 ) ( 0.1 ) ( 0.2 ) ( 0.1 ) Total lease expense $ 14.2 $ 11.9 $ 29.5 $ 24.7 Additional information related to leases is presented in the table below: Six Months Ended June 30, Supplemental Cash Flows Information 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 13.1 $ 12.9 Operating cash flows for finance leases 1.8 1.1 Financing cash flows for finance leases 4.3 2.4 Non-cash right-of-use assets obtained in exchange for lease obligations: Operating leases 7.5 3.4 Finance leases 10.4 9.7 Weighted Average Remaining Lease Term (in years): Operating leases 8.8 9.1 Finance leases 4.6 4.6 Weighted Average Discount Rate (in %): Operating leases 10.3 10.2 Finance leases 8.3 8.1 Minimum future lease payments under non-cancellable operating and finance leases described above as of June 30, 2024 were as follows: Year ending December 31, Operating Leases Finance Leases Remainder of 2024 $ 13.1 $ 6.3 2025 23.6 12.5 2026 20.5 11.8 2027 19.1 10.1 2028 17.3 8.1 Thereafter 85.8 5.0 Total future minimum lease payments 179.4 53.8 Less: imputed interest ( 64.2 ) ( 8.7 ) Total $ 115.2 $ 45.1 Balance Sheet Location June 30, 2024 December 31, 2023 Current portion of long-term debt $ 9.4 $ 7.7 Current operating lease liabilities 15.5 15.9 Finance lease obligations, net of current portion 35.7 31.1 Long-term operating lease liabilities, net of current portion 99.7 99.6 Total $ 160.3 $ 154.3 See Note 11, Contingencies, for more information on certain contracts where the Company guarantees the performance of the third-party lessee.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 11 — CONTIN GENCIES Guarantees As of June 30, 2024 and December 31, 2023, the Company was party to certain contracts in which it guarantees 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 at both June 30, 2024 and December 31, 2023 . 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 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023. Legal Proceedings During the three and six months ended June 30, 2024 and 2023, 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 condensed 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 June 30, 2024 and December 31, 2023 there were $ 12.0 million and $ 9.0 million in outstanding letters of credit issued in the normal course of business, respectively. These letters of credit reduce our available borrowings under our ABL Facility.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 12 — INCOME T AXES The Company recognized an income tax benefit of $ 2.7 million and expense of $ 0.3 million for the three months ended June 30, 2024 and 2023 respectively, and $ 6.9 million benefit and $ 0.4 million expense for the six months ended June 30, 2024 and 2023, respectively. The income tax benefit was primarily attributable to the net loss during the three and six months ended June 30, 2024. We regularly assess the need for a valuation allowance against our deferred tax assets. In making that assessment, we consider both positive and negative evidence related to the likelihood of realization of the deferred tax assets to determine, based on the weight of available evidence, whether it is more likely than not that some or all of the deferred tax assets will not be realized. We will continue to monitor the need for a valuation allowance against our deferred tax assets on a quarterly basis. The effective tax rate for the six months ended June 30, 2024 and 2023 was 22.5 % and 10.5 % , respectively. The effective income tax rate in 2023 was primarily related to income tax expense associated with tax filing jurisdictions with no associated valuation allowance and 2024 had no jurisdictions limited by a valuation allowance.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2024
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. To this end, compensation for our senior leadership team includes equity awards in the form of restricted stock units ("RSUs") and performance stock units ("PSUs"). We calculate the fair value of the RSUs and 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 $ 1.2 million and $ 1.1 million for the three months ended June 30, 2024 and 2023, respectively, and $ 2.3 million and $ 1.9 million for the six months ended June 30, 2024 and 2023, respectively. As of June 30, 2024, the total unrecognized compensation expense related to the non-vested portion of the Company's RSUs was $ 2.4 million, which is expected to be recognized over a weighted average period of 1.3 years. As of June 30, 2024, the total unrecognized compensation expense related to the non-vested portion of the Company's PSUs was $ 4.5 million, which is expected to be recognized over a weighted average period of 1.3 years. The following table shows the number of stock awards that were granted, vested, and forfeited during the six months ended June 30, 2024: 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, 2023 230,574 $ 12.27 543,422 $ 13.37 Granted 160,016 10.94 131,953 12.05 Vested - issued ( 145,034 ) 10.96 ( 210,156 ) 12.15 Vested - unissued ( 12,197 ) 11.35 — — Forfeited ( 1,136 ) 15.16 — — Unvested units as of June 30, 2024 232,223 $ 12.07 465,219 $ 13.54 Employee Stock Purchase Plan (ESPP) On June 8, 2023 the Company filed a 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 continued 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 or last day of the offering period (i.e. the purchase date) represents an option and, therefore, the ESPP is a compensatory plan. 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 three and six months ended June 30, 2024 was not material and no compensation expense was recognized in the three and six months ended June 30, 2023. ESPP employee payroll contributions accrued as of June 30, 2024 and December 31, 2023 totaled $ 1.1 million and $ 0.9 million, respectively, and are included within "Accrued expenses" in the Condensed Consolidated Balance Sheets. Cash withheld via employee payroll deductions is presented in financing activities within "Other financing activities" in the Condensed Consolidated Statement of Cash Flows.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2024
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 Condensed 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 June 30, 2024 and December 31, 2023 are shown below: June 30, 2024 December 31, 2023 Estimated aggregate fair value $ 727.7 $ 655.6 Aggregate carrying value (1) 762.7 671.3 (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 future earn-out obligations that the Company may be required to pay in conjunction with past acquisitions upon the achievement of certain 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 Condensed Consolidated Statements of Operations. The following table sets forth the Company’s contingent consideration liabilities measured and recorded at fair value as of June 30, 2024 and December 31, 2023, and their presentation on the Condensed Consolidated Balance Sheets: Level 3 Balance Sheet Location June 30, 2024 December 31, 2023 Other current liabilities $ 1.0 $ 0.4 Other liabilities 4.7 4.2 The following is a summary of changes to Level 3 instruments for the three months ended June 30, 2024: Contingent Consideration Balance, December 31, 2023 $ 4.6 Changes in fair value 1.1 Balance, June 30, 2024 $ 5.7 Derivative Financial Instruments In the normal course of business, we are exposed to market risks 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. Interest Rate Cap 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 Condensed 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 impact on earnings on the interest rate cap for the three and six months ended June 30, 2024 and 2023, respectively, are disclosed in the Condensed Consolidated Statements of Comprehensive (Loss) Income. Fuel Purchase Contracts From time to time, we enter 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 Company's derivative instruments as of June 30, 2024: Maturity Date of Derivatives Currency / Unit of Measure Notional Value Interest rate cap ( December 2025 ) One-month SOFR $ 200.0 Fuel swaps ( various through February 2026 ) Gallons 5.6 The following table sets forth the location and fair value of the Company’s derivative instruments as of June 30, 2024 and December 31, 2023 on the Condensed Consolidated Balance Sheets: Asset Derivatives Liability Derivatives Derivatives designated as hedges Balance Sheet location June 30, 2024 December 31, 2023 Balance Sheet location June 30, 2024 December 31, 2023 Interest rate cap - current portion Prepaid expenses and other current assets $ — $ — Other current liabilities $ 1.6 $ 1.6 Interest rate cap - long-term Other assets 2.3 1.7 Other liabilities 0.8 1.6

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2024
Business Combinations [Abstract]
BUSINESS COMBINATIONS	NOTE 15 — BUSIN ESS COMBINATIONS The following table summarizes the net assets acquired by segment from our 2023 acquisitions: Material Handling Construction Total Cash $ 0.1 $ 0.9 $ 1.0 Accounts receivable 0.3 7.9 8.2 Inventories 0.8 37.6 38.4 Prepaid expenses and other current assets — 0.8 0.8 Rental fleet 1.0 10.8 11.8 Property and equipment 0.1 1.8 1.9 Operating lease right-of-use assets 1.9 2.7 4.6 Other intangible assets — 14.4 14.4 Goodwill 1.1 6.9 8.0 Other assets — 0.3 0.3 Total assets $ 5.3 $ 84.1 $ 89.4 Floor plan payable – new equipment $ — $ ( 9.2 ) $ ( 9.2 ) Accounts payable ( 0.7 ) ( 9.3 ) ( 10.0 ) Customer deposits — ( 0.1 ) ( 0.1 ) Accrued expenses — ( 3.1 ) ( 3.1 ) Current operating lease liabilities ( 0.2 ) ( 0.4 ) ( 0.6 ) Current deferred revenue — ( 0.6 ) ( 0.6 ) Long-term operating lease liabilities ( 1.7 ) ( 2.3 ) ( 4.0 ) Deferred tax liability — ( 6.0 ) ( 6.0 ) Total liabilities $ ( 2.6 ) $ ( 31.0 ) $ ( 33.6 ) Net assets acquired $ 2.7 $ 53.1 $ 55.8 Assets acquired net of cash $ 2.6 $ 52.2 $ 54.8 During 2024, we recorded adjustments to the purchase price allocation related to the Ault acquisition which were not significant individually or in the aggregate. These adjustments had no cash impact as reported in the Condensed Consolidated Statements of Cash Flows "Acquisitions of businesses, net of cash acquired". We describe our 2023 acquisitions in more detail in Note 15 of the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2023. The fair values of assets acquired and liabilities assumed are finalized for our 2023 acquisitions of M&G Materials Handling Co., Battery Shop of New England Inc., and Burris Equipment Company and are provisional with working capital, tax-related and purchase price allocation adjustments remaining open for Ault.

Segments

Segments	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
SEGMENTS	NOTE 16 — SEGMENTS The Company has three reportable segments: Material Handling, Construction Equipment, and Master Distribution. All other business activities 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 the 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, Pennsylvania, New York (excluding New York City), Florida and the New England region of the U.S. as well as the Ontario and Quebec provinces of Canada. 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 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 three and six months ended June 30, 2024 and 2023,: Three Months Ended June 30, 2024 Material Construction Master Distribution Corporate and Other Total New and used equipment sales $ 90.2 $ 145.5 $ 14.4 $ 1.4 $ 251.5 Parts sales 26.9 49.2 2.4 ( 0.5 ) 78.0 Service revenues 35.7 30.3 0.2 — 66.2 Rental revenues 20.0 33.3 0.4 — 53.7 Rental equipment sales 2.8 36.6 ( 0.7 ) — 38.7 Total revenues $ 175.6 $ 294.9 $ 16.7 $ 0.9 $ 488.1 Interest expense 5.9 11.8 1.0 0.5 19.2 Depreciation and amortization 10.4 26.2 1.3 0.1 38.0 Income (loss) before taxes 4.7 ( 5.2 ) ( 1.1 ) ( 13.0 ) ( 14.6 ) Three Months Ended June 30, 2023 Material Construction Master Distribution Corporate and Other Total New and used equipment sales $ 90.2 $ 149.2 $ 18.6 $ ( 3.4 ) $ 254.6 Parts sales 26.4 42.6 2.5 ( 0.2 ) $ 71.3 Service revenues 33.0 26.6 0.1 — $ 59.7 Rental revenues 18.6 30.8 0.2 — $ 49.6 Rental equipment sales 0.9 32.3 — — 33.2 Total revenues $ 169.1 $ 281.5 $ 21.4 $ ( 3.6 ) $ 468.4 Interest expense 4.4 7.9 0.8 0.6 13.7 Depreciation and amortization 8.7 23.2 1 0.1 33.0 Income (loss) before taxes 2.9 4.5 1.4 ( 6.1 ) 2.7 Six Months Ended June 30, 2024 Material Construction Master Distribution Corporate and Other Total New and used equipment sales $ 184.3 $ 271.6 $ 23.5 $ 0.7 $ 480.1 Parts sales 51.8 95.1 4.9 ( 0.9 ) 150.9 Service revenues 69.5 60.4 0.3 — 130.2 Rental revenues 39.0 62.4 0.8 — 102.2 Rental equipment sales 5.3 61.0 — — 66.3 Total revenues $ 349.9 $ 550.5 $ 29.5 $ ( 0.2 ) $ 929.7 Interest expense 11.0 21.6 1.9 0.8 35.3 Depreciation and amortization 20.1 49.1 2.4 0.4 72.0 Income (loss) before taxes 5.3 ( 15.2 ) ( 3.1 ) ( 17.7 ) ( 30.7 ) Six Months Ended June 30, 2023 Material Construction Master Distribution Corporate and Other Total New and used equipment sales $ 177.7 $ 261.3 $ 42.1 $ ( 6.9 ) $ 474.2 Parts sales 51.4 83.5 5.4 ( 0.6 ) 139.7 Service revenues 65.9 53.8 0.2 — 119.9 Rental revenues 36.6 56.1 0.4 — 93.1 Rental equipment sales 2.3 59.9 — — 62.2 Total revenues $ 333.9 $ 514.6 $ 48.1 $ ( 7.5 ) $ 889.1 Interest expense 8.3 14.5 1.6 1.3 25.7 Depreciation and amortization 16.8 42.0 2.1 0.2 61.1 Income (loss) before taxes 8.0 2.9 4.8 ( 11.9 ) 3.8 The following table presents the Company’s identified assets by reportable segment as of June 30, 2024 and December 31, 2023: June 30, December 31, Material Handling $ 480.4 $ 474.3 Construction Equipment 974.3 947.6 Master Distribution 94.5 85.9 Corporate and Other 42.1 63.1 Total assets $ 1,591.3 $ 1,570.9

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 17 — 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. 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 three and six months ended June 30, 2024 and 2023 were calculated as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Basic net (loss) income per share Net (loss) income available to common stockholders $ ( 12.6 ) $ 1.7 $ ( 25.3 ) $ 1.9 Basic weighted average common shares outstanding 33,239,620 32,368,112 33,174,158 32,296,067 Basic net (loss) income per share of common stock $ ( 0.38 ) $ 0.05 $ ( 0.76 ) $ 0.06 Diluted (loss) income per share Net (loss) income available to common stockholders $ ( 12.6 ) $ 1.7 $ ( 25.3 ) $ 1.9 Basic weighted average common shares outstanding 33,239,620 32,368,112 33,174,158 32,296,067 Effect of dilutive securities: Effect of dilutive securities — 363,310 — 285,402 Diluted weighted average common shares outstanding 33,239,620 32,731,422 33,174,158 32,581,469 Diluted net (loss) income per share of common stock $ ( 0.38 ) $ 0.05 $ ( 0.76 ) $ 0.06 Approximately 796,000 and 979,000 securities were excluded from the calculation of diluted loss per share for the three and six months ended June 30, 2024 , because the inclusion of such securities in the calculation would have been anti-dilutive.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of condensed 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 condensed 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.
New Accounting Pronouncements	New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("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 guidance on our 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 guidance on our 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 our consolidated financial statements or do not apply to us.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Summary of Disaggregated Revenues	The following tables summarize the Company’s disaggregated revenues as presented in the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 by revenue type and the applicable accounting standard. Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: New and used equipment sales $ — $ 251.5 $ 251.5 $ — $ 254.6 $ 254.6 Parts sales — 78.0 78.0 — 71.3 71.3 Service revenues — 66.2 66.2 — 59.7 59.7 Rental revenues 53.7 — 53.7 49.6 — 49.6 Rental equipment sales — 38.7 38.7 — 33.2 33.2 Total revenues $ 53.7 $ 434.4 $ 488.1 $ 49.6 $ 418.8 $ 468.4 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: New and used equipment sales $ — $ 480.1 $ 480.1 $ — $ 474.2 $ 474.2 Parts sales — 150.9 150.9 — 139.7 139.7 Service revenues — 130.2 130.2 — 119.9 119.9 Rental revenues 102.2 — 102.2 93.1 — 93.1 Rental equipment sales — 66.3 66.3 — 62.2 62.2 Total revenues $ 102.2 $ 827.5 $ 929.7 $ 93.1 $ 796.0 $ 889.1

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Summary of Inventories, Net	Inventories, net, consisted of the following: June 30, December 31, 2024 2023 New equipment $ 390.6 $ 373.6 Used equipment 52.9 54.6 Work in process 8.3 8.2 Parts 103.7 101.9 Gross inventory 555.5 538.3 Inventory reserves ( 8.2 ) ( 7.6 ) Inventories, net $ 547.3 $ 530.7

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net, consisted of the following: June 30, December 31, 2024 2023 Land $ 3.2 $ 2.1 Rental fleet 617.2 600.8 Buildings, equipment, and leasehold improvements: Machinery and equipment 9.6 8.5 Autos and trucks 7.7 7.7 Buildings and leasehold improvements 21.9 20.8 Construction in progress 6.9 6.1 Finance lease right-of-use assets 58.4 48.4 Office equipment 5.5 4.9 Computer equipment 14.3 13.3 Total cost 744.7 712.6 Less: accumulated depreciation and amortization: Rental fleet ( 212.9 ) ( 209.4 ) Buildings, equipment, autos and trucks, leasehold improvements, finance leases and office and computer equipment ( 46.4 ) ( 38.4 ) Total accumulated depreciation and amortization ( 259.3 ) ( 247.8 ) Property and equipment, net $ 485.4 $ 464.8

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
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 for the six months ended June 30, 2024: Material Construction Master Distribution Total Balance, December 31, 2023 $ 15.0 $ 43.4 $ 18.3 $ 76.7 Adjustments to purchase price allocations — 1.5 — 1.5 Translation adjustments ( 0.1 ) — — ( 0.1 ) Balance, June 30, 2024 $ 14.9 $ 44.9 $ 18.3 $ 78.1
Schedule of Gross Carrying Amount of Intangible Assets and Accumulated Amortization	The gross carrying amount of intangible assets and accumulated amortization as of June 30, 2024 and December 31, 2023 were as follows: June 30, 2024 Weighted Average Remaining Life (in years) Gross carrying Accumulated Net carrying Customer and supplier relationships 7.1 $ 73.8 $ ( 20.6 ) $ 53.2 Other intangibles 3.5 14.5 ( 6.5 ) 8.0 Total 6.6 $ 88.3 $ ( 27.1 ) $ 61.2 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

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	The Company’s long-term debt consists of the following: June 30, December 31, 2024 2023 Line of credit $ 217.6 $ 317.5 Senior secured second lien notes 500.0 315.0 Unamortized debt issuance costs ( 4.9 ) ( 2.2 ) Debt discount ( 21.1 ) ( 2.1 ) Finance leases 45.1 38.8 Total debt and finance leases 736.7 667.0 Less: current maturities ( 9.4 ) ( 7.7 ) Long-term debt and finance leases, net $ 727.3 $ 659.3
Schedule of Present Value of Minimum Cash Payments	June 30, December 31, Location on Balance Sheet 2024 2023 Other current liabilities $ 2.8 $ 7.4 Other liabilities 6.2 6.5 Total $ 9.0 $ 13.9

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Components of Lease Expense	The components of lease expense were as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease expense $ 6.4 $ 6.5 $ 13.2 $ 13.4 Short-term lease expense 1.5 1.2 3.9 2.9 Low-value lease expense 0.4 0.2 0.7 0.5 Variable lease expense 2.6 2.1 5.3 4.2 Finance lease expense: Amortization of right-of-use assets 2.5 1.4 4.8 2.7 Interest on lease liabilities 0.9 0.6 1.8 1.1 Sublease income ( 0.1 ) ( 0.1 ) ( 0.2 ) ( 0.1 ) Total lease expense $ 14.2 $ 11.9 $ 29.5 $ 24.7
Schedule of Additional Information Related To Leases	Additional information related to leases is presented in the table below: Six Months Ended June 30, Supplemental Cash Flows Information 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 13.1 $ 12.9 Operating cash flows for finance leases 1.8 1.1 Financing cash flows for finance leases 4.3 2.4 Non-cash right-of-use assets obtained in exchange for lease obligations: Operating leases 7.5 3.4 Finance leases 10.4 9.7 Weighted Average Remaining Lease Term (in years): Operating leases 8.8 9.1 Finance leases 4.6 4.6 Weighted Average Discount Rate (in %): Operating leases 10.3 10.2 Finance leases 8.3 8.1
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 June 30, 2024 were as follows: Year ending December 31, Operating Leases Finance Leases Remainder of 2024 $ 13.1 $ 6.3 2025 23.6 12.5 2026 20.5 11.8 2027 19.1 10.1 2028 17.3 8.1 Thereafter 85.8 5.0 Total future minimum lease payments 179.4 53.8 Less: imputed interest ( 64.2 ) ( 8.7 ) Total $ 115.2 $ 45.1 Balance Sheet Location June 30, 2024 December 31, 2023 Current portion of long-term debt $ 9.4 $ 7.7 Current operating lease liabilities 15.5 15.9 Finance lease obligations, net of current portion 35.7 31.1 Long-term operating lease liabilities, net of current portion 99.7 99.6 Total $ 160.3 $ 154.3

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Restricted And Performance Stock Granted, Vested and Forfeited	The following table shows the number of stock awards that were granted, vested, and forfeited during the six months ended June 30, 2024: 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, 2023 230,574 $ 12.27 543,422 $ 13.37 Granted 160,016 10.94 131,953 12.05 Vested - issued ( 145,034 ) 10.96 ( 210,156 ) 12.15 Vested - unissued ( 12,197 ) 11.35 — — Forfeited ( 1,136 ) 15.16 — — Unvested units as of June 30, 2024 232,223 $ 12.07 465,219 $ 13.54

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 and December 31, 2023 are shown below: June 30, 2024 December 31, 2023 Estimated aggregate fair value $ 727.7 $ 655.6 Aggregate carrying value (1) 762.7 671.3 (1) Total debt excluding the impact of unamortized debt discount and debt issuance costs.
Schedule of Contingent Consideration Liabilities Measured and Recorded at Fair Value	The following table sets forth the Company’s contingent consideration liabilities measured and recorded at fair value as of June 30, 2024 and December 31, 2023, and their presentation on the Condensed Consolidated Balance Sheets: Level 3 Balance Sheet Location June 30, 2024 December 31, 2023 Other current liabilities $ 1.0 $ 0.4 Other liabilities 4.7 4.2
Summary of Changes to Level 3 Instruments	The following is a summary of changes to Level 3 instruments for the three months ended June 30, 2024: Contingent Consideration Balance, December 31, 2023 $ 4.6 Changes in fair value 1.1 Balance, June 30, 2024 $ 5.7
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 Company's derivative instruments as of June 30, 2024: Maturity Date of Derivatives Currency / Unit of Measure Notional Value Interest rate cap ( December 2025 ) One-month SOFR $ 200.0 Fuel swaps ( various through February 2026 ) Gallons 5.6
Summary of Derivative Instruments Measured at Fair Value	The following table sets forth the location and fair value of the Company’s derivative instruments as of June 30, 2024 and December 31, 2023 on the Condensed Consolidated Balance Sheets: Asset Derivatives Liability Derivatives Derivatives designated as hedges Balance Sheet location June 30, 2024 December 31, 2023 Balance Sheet location June 30, 2024 December 31, 2023 Interest rate cap - current portion Prepaid expenses and other current assets $ — $ — Other current liabilities $ 1.6 $ 1.6 Interest rate cap - long-term Other assets 2.3 1.7 Other liabilities 0.8 1.6

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2024
Business Acquisition [Line Items]
Summary of Net Assets Acquired by segment from Acquisition	The following table summarizes the net assets acquired by segment from our 2023 acquisitions: Material Handling Construction Total Cash $ 0.1 $ 0.9 $ 1.0 Accounts receivable 0.3 7.9 8.2 Inventories 0.8 37.6 38.4 Prepaid expenses and other current assets — 0.8 0.8 Rental fleet 1.0 10.8 11.8 Property and equipment 0.1 1.8 1.9 Operating lease right-of-use assets 1.9 2.7 4.6 Other intangible assets — 14.4 14.4 Goodwill 1.1 6.9 8.0 Other assets — 0.3 0.3 Total assets $ 5.3 $ 84.1 $ 89.4 Floor plan payable – new equipment $ — $ ( 9.2 ) $ ( 9.2 ) Accounts payable ( 0.7 ) ( 9.3 ) ( 10.0 ) Customer deposits — ( 0.1 ) ( 0.1 ) Accrued expenses — ( 3.1 ) ( 3.1 ) Current operating lease liabilities ( 0.2 ) ( 0.4 ) ( 0.6 ) Current deferred revenue — ( 0.6 ) ( 0.6 ) Long-term operating lease liabilities ( 1.7 ) ( 2.3 ) ( 4.0 ) Deferred tax liability — ( 6.0 ) ( 6.0 ) Total liabilities $ ( 2.6 ) $ ( 31.0 ) $ ( 33.6 ) Net assets acquired $ 2.7 $ 53.1 $ 55.8 Assets acquired net of cash $ 2.6 $ 52.2 $ 54.8

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2024
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 three and six months ended June 30, 2024 and 2023,: Three Months Ended June 30, 2024 Material Construction Master Distribution Corporate and Other Total New and used equipment sales $ 90.2 $ 145.5 $ 14.4 $ 1.4 $ 251.5 Parts sales 26.9 49.2 2.4 ( 0.5 ) 78.0 Service revenues 35.7 30.3 0.2 — 66.2 Rental revenues 20.0 33.3 0.4 — 53.7 Rental equipment sales 2.8 36.6 ( 0.7 ) — 38.7 Total revenues $ 175.6 $ 294.9 $ 16.7 $ 0.9 $ 488.1 Interest expense 5.9 11.8 1.0 0.5 19.2 Depreciation and amortization 10.4 26.2 1.3 0.1 38.0 Income (loss) before taxes 4.7 ( 5.2 ) ( 1.1 ) ( 13.0 ) ( 14.6 ) Three Months Ended June 30, 2023 Material Construction Master Distribution Corporate and Other Total New and used equipment sales $ 90.2 $ 149.2 $ 18.6 $ ( 3.4 ) $ 254.6 Parts sales 26.4 42.6 2.5 ( 0.2 ) $ 71.3 Service revenues 33.0 26.6 0.1 — $ 59.7 Rental revenues 18.6 30.8 0.2 — $ 49.6 Rental equipment sales 0.9 32.3 — — 33.2 Total revenues $ 169.1 $ 281.5 $ 21.4 $ ( 3.6 ) $ 468.4 Interest expense 4.4 7.9 0.8 0.6 13.7 Depreciation and amortization 8.7 23.2 1 0.1 33.0 Income (loss) before taxes 2.9 4.5 1.4 ( 6.1 ) 2.7 Six Months Ended June 30, 2024 Material Construction Master Distribution Corporate and Other Total New and used equipment sales $ 184.3 $ 271.6 $ 23.5 $ 0.7 $ 480.1 Parts sales 51.8 95.1 4.9 ( 0.9 ) 150.9 Service revenues 69.5 60.4 0.3 — 130.2 Rental revenues 39.0 62.4 0.8 — 102.2 Rental equipment sales 5.3 61.0 — — 66.3 Total revenues $ 349.9 $ 550.5 $ 29.5 $ ( 0.2 ) $ 929.7 Interest expense 11.0 21.6 1.9 0.8 35.3 Depreciation and amortization 20.1 49.1 2.4 0.4 72.0 Income (loss) before taxes 5.3 ( 15.2 ) ( 3.1 ) ( 17.7 ) ( 30.7 ) Six Months Ended June 30, 2023 Material Construction Master Distribution Corporate and Other Total New and used equipment sales $ 177.7 $ 261.3 $ 42.1 $ ( 6.9 ) $ 474.2 Parts sales 51.4 83.5 5.4 ( 0.6 ) 139.7 Service revenues 65.9 53.8 0.2 — 119.9 Rental revenues 36.6 56.1 0.4 — 93.1 Rental equipment sales 2.3 59.9 — — 62.2 Total revenues $ 333.9 $ 514.6 $ 48.1 $ ( 7.5 ) $ 889.1 Interest expense 8.3 14.5 1.6 1.3 25.7 Depreciation and amortization 16.8 42.0 2.1 0.2 61.1 Income (loss) before taxes 8.0 2.9 4.8 ( 11.9 ) 3.8
Summary of Identified Assets by Reportable Segment	The following table presents the Company’s identified assets by reportable segment as of June 30, 2024 and December 31, 2023: June 30, December 31, Material Handling $ 480.4 $ 474.3 Construction Equipment 974.3 947.6 Master Distribution 94.5 85.9 Corporate and Other 42.1 63.1 Total assets $ 1,591.3 $ 1,570.9

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Summary of Basic and Diluted EPS	Basic and diluted EPS for the three and six months ended June 30, 2024 and 2023 were calculated as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Basic net (loss) income per share Net (loss) income available to common stockholders $ ( 12.6 ) $ 1.7 $ ( 25.3 ) $ 1.9 Basic weighted average common shares outstanding 33,239,620 32,368,112 33,174,158 32,296,067 Basic net (loss) income per share of common stock $ ( 0.38 ) $ 0.05 $ ( 0.76 ) $ 0.06 Diluted (loss) income per share Net (loss) income available to common stockholders $ ( 12.6 ) $ 1.7 $ ( 25.3 ) $ 1.9 Basic weighted average common shares outstanding 33,239,620 32,368,112 33,174,158 32,296,067 Effect of dilutive securities: Effect of dilutive securities — 363,310 — 285,402 Diluted weighted average common shares outstanding 33,239,620 32,731,422 33,174,158 32,581,469 Diluted net (loss) income per share of common stock $ ( 0.38 ) $ 0.05 $ ( 0.76 ) $ 0.06

Revenue Recognition - Summary o

Revenue Recognition - Summary of Disaggregated Revenues (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Total revenues	$ 488.1	$ 468.4	$ 929.7	$ 889.1
Topic 842
Revenues:
Total revenues	53.7	49.6	102.2	93.1
Topic 606
Revenues:
Total revenues	434.4	418.8	827.5	796
New and Used Equipment Sales
Revenues:
Total revenues	251.5	254.6	480.1	474.2
New and Used Equipment Sales | Topic 606
Revenues:
Total revenues	251.5	254.6	480.1	474.2
Parts Sales
Revenues:
Total revenues	78	71.3	150.9	139.7
Parts Sales | Topic 606
Revenues:
Total revenues	78	71.3	150.9	139.7
Service Revenues
Revenues:
Total revenues	66.2	59.7	130.2	119.9
Service Revenues | Topic 606
Revenues:
Total revenues	66.2	59.7	130.2	119.9
Rental Revenues
Revenues:
Total revenues	53.7	49.6	102.2	93.1
Rental Revenues | Topic 842
Revenues:
Total revenues	53.7	49.6	102.2	93.1
Rental Equipment Sales
Revenues:
Total revenues	38.7	33.2	66.3	62.2
Rental Equipment Sales | Topic 606
Revenues:
Total revenues	$ 38.7	$ 33.2	$ 66.3	$ 62.2

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disaggregation Of Revenue [Line Items]
Total revenues	$ 488.1	$ 468.4	$ 929.7	$ 889.1
Revenue recognized from guaranteed maintenance contracts	5.5	5.7	11	12
Contract with customer, assets	4.9		4.9		$ 4.5
Deferred revenues recognized	2.2	3.8	10.3	11.3
Automated Equipment Installation and System Integration Services
Disaggregation Of Revenue [Line Items]
Deferred revenue	18.7		18.7		20.4
Service Maintenance Contracts
Disaggregation Of Revenue [Line Items]
Deferred revenue	18.7		18.7		20.4
Equipment Rental Agreements
Disaggregation Of Revenue [Line Items]
Deferred revenue	18.7		$ 18.7		$ 20.4
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
Bill and hold agreements
Disaggregation Of Revenue [Line Items]
Total revenues	2.6	7.4	$ 5.5	14.2
Design and Build Solutions, Automated Equipment Installation and System Integration and Software Services
Disaggregation Of Revenue [Line Items]
Total revenues	$ 13.5	$ 16.2	$ 30.5	$ 39.3

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - OneH2, Inc. - Hydrogen Fuel - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Related Party Transaction [Line Items]
Purchases from related party	$ 0.6	$ 0.1	$ 1.2	$ 0.3
Payments To Related Party			1.1	$ 1.1
Investment	$ 5.3		$ 5.3

Inventories - Summary of Invent

Inventories - Summary of Inventories, Net (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
New equipment	$ 390.6	$ 373.6
Used equipment	52.9	54.6
Work in process	8.3	8.2
Parts	103.7	101.9
Gross inventory	555.5	538.3
Inventory reserves	(8.2)	(7.6)
Inventories, net	$ 547.3	$ 530.7

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Inventory Disclosure [Abstract]
Capitalized direct labor expense included in work in process	$ 1		$ 1		$ 1.2
Rental depreciation expense under short-term leases with purchase options	$ 4	$ 3.1	$ 7.1	$ 5.6

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Property Plant and Equipment [Line Items]
Total cost	$ 744.7	$ 712.6
Total accumulated depreciation and amortization	(259.3)	(247.8)
Property and equipment, net	485.4	464.8
Land
Property Plant and Equipment [Line Items]
Total cost	3.2	2.1
Rental Fleet
Property Plant and Equipment [Line Items]
Total cost	617.2	600.8
Total accumulated depreciation and amortization	(212.9)	(209.4)
Machinery and Equipment
Property Plant and Equipment [Line Items]
Total cost	9.6	8.5
Autos and Trucks
Property Plant and Equipment [Line Items]
Total cost	7.7	7.7
Buildings and Leasehold Improvements
Property Plant and Equipment [Line Items]
Total cost	21.9	20.8
Construction In Progress
Property Plant and Equipment [Line Items]
Total cost	6.9	6.1
Finance Lease Right of Use Assets
Property Plant and Equipment [Line Items]
Total cost	58.4	48.4
Office Equipment
Property Plant and Equipment [Line Items]
Total cost	5.5	4.9
Computer Equipment
Property Plant and Equipment [Line Items]
Total cost	14.3	13.3
Buildings, equipment, autos and trucks, leasehold improvements, finance leases and office and computer equipment
Property Plant and Equipment [Line Items]
Total accumulated depreciation and amortization	$ (46.4)	$ (38.4)

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property Plant and Equipment [Line Items]
Depreciation and amortization on property and equipment	$ 38	$ 33	$ 72	$ 61.1
Property and Equipment
Property Plant and Equipment [Line Items]
Depreciation and amortization on property and equipment	$ 31.4	$ 27.7	$ 59.7	$ 51.1

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) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Line Items]
Beginning balance	$ 76.7
Adjustments to purchase price allocations	1.5
Translation adjustments	(0.1)
Ending balance	78.1
Material Handling
Goodwill [Line Items]
Beginning balance	15
Translation adjustments	(0.1)
Ending balance	14.9
Construction Equipment
Goodwill [Line Items]
Beginning balance	43.4
Adjustments to purchase price allocations	1.5
Ending balance	44.9
Master Distribution
Goodwill [Line Items]
Beginning balance	18.3
Ending balance	$ 18.3

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Gross Carrying Amount of Other Intangible Assets and Accumulated Amortization (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	6 years 7 months 6 days	7 years
Gross carrying amount	$ 88.3	$ 88.2
Accumulated amortization	(27.1)	(21.9)
Net carrying amount	$ 61.2	$ 66.3
Customer And Supplier Relationships
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	7 years 1 month 6 days	7 years 7 months 6 days
Gross carrying amount	$ 73.8	$ 73.6
Accumulated amortization	(20.6)	(16.8)
Net carrying amount	$ 53.2	$ 56.8
Other Intangibles
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	3 years 6 months	3 years 10 months 24 days
Gross carrying amount	$ 14.5	$ 14.6
Accumulated amortization	(6.5)	(5.1)
Net carrying amount	$ 8	$ 9.5

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of other intangible assets	$ 2.6	$ 2.2	$ 5.2	$ 4.4

Floor Plans - Additional Inform

Floor Plans - Additional Information (Details) - USD ($)		3 Months Ended		6 Months Ended
	Jun. 05, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Line Of Credit Facility [Line Items]
Floor plan financing facility		$ 217,600,000		$ 217,600,000		$ 317,500,000
Recognized interest expense		19,200,000	$ 13,700,000	35,300,000	$ 25,700,000
First Lien Lender | JP Morgan Chase Bank | First Lien Floor Plan Facility
Line Of Credit Facility [Line Items]
Floor plan financing facility		$ 64,200,000		$ 64,200,000		$ 67,400,000
Effective interest rate		8.20%		8.20%		8.20%
First Lien Lender | JP Morgan Chase Bank | First Lien Floor Plan Facility | Yale Industrial Trucks Inc.
Line Of Credit Facility [Line Items]
Maturity date	Jun. 01, 2029
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	$ 90,000,000
OEM Captive Lenders and Suppliers | JP Morgan Chase Bank | Floor Plan Facilities | Minimum
Line Of Credit Facility [Line Items]
Maximum borrowing capacity		$ 100,000		$ 100,000
OEM Captive Lenders and Suppliers | JP Morgan Chase Bank | Floor Plan Facilities | Maximum
Line Of Credit Facility [Line Items]
Maximum borrowing capacity		160,000,000		160,000,000
OEM Captive Lenders and Suppliers | JP Morgan Chase Bank | OEM Floor Plan Facilities
Line Of Credit Facility [Line Items]
Floor plan financing facility		$ 334,600,000		$ 334,600,000		$ 330,100,000
OEM Captive Lenders and Suppliers | JP Morgan Chase Bank | OEM Floor Plan Facilities | Minimum
Line Of Credit Facility [Line Items]
Effective interest rate		8.30%		8.30%		8.40%
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%		10.50%		10.50%
Fourth Amended And Restated First Lien Credit Agreement | JP Morgan Chase Bank | Floor Plan Facilities
Line Of Credit Facility [Line Items]
Floor plan financing facility		$ 398,800,000		$ 398,800,000		$ 397,500,000
Maximum borrowing capacity		450,000,000		$ 450,000,000
Line of credit facility percentage of annual increase				10%
Recognized interest expense		$ 2,700,000	$ 1,900,000	$ 5,500,000	$ 3,400,000
Weighted average rate on Floor Plan Facilities		8.80%	7.70%	8.80%	7.70%

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Jun. 05, 2024	Jun. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt instrument, description			On June 5, 2024, 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 variable interest rate exposure, providing liquidity for general corporate purposes, and for financing of future growth initiatives.
Outstanding borrowing		$ 217.6	$ 217.6	$ 317.5
Loss on extinguishment of debt		6.7	6.7
ABL Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 520
Outstanding borrowing		$ 217.6	$ 217.6	317.5
Effective interest rate		7.20%	7.20%
ABL Facility | Canadian-denominated Sublimit Facility
Debt Instrument [Line Items]
Maturity date	Jun. 01, 2029
Maximum borrowing capacity	$ 45
First Lien Lender | Floor Plans and ABL Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 970	$ 970
Outstanding borrowing		616.4	616.4	715
Original issue discount and deferred financing costs		3.9	3.9	$ 1.8
5.625% Senior Secured Second Lien Notes due 2026
Debt Instrument [Line Items]
Proceeds from sale of notes	$ 500
Original issue discount and deferred financing costs		$ 22.6	$ 22.6
Effective interest rate		10.10%	10.10%
Outstanding borrowing		$ 477.4	$ 477.4
5.625% Senior Secured Second Lien Notes due April 15, 2026
Debt Instrument [Line Items]
Debt instrument, interest rate	9%

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Lines of credit	$ 217.6	$ 317.5
Senior secured second lien notes	500	315
Unamortized debt issuance costs	(4.9)	(2.2)
Debt discount	(21.1)	(2.1)
Finance leases	45.1	38.8
Total debt and finance leases	736.7	667
Less: current maturities	(9.4)	(7.7)
Long-term debt and finance leases, net	$ 727.3	$ 659.3

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	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Amount of minimum cash payments using a market participant discount rate	$ 9	$ 13.9
Other Current Liabilities
Debt Instrument [Line Items]
Amount of minimum cash payments using a market participant discount rate	2.8	7.4
Other Liabilities
Debt Instrument [Line Items]
Amount of minimum cash payments using a market participant discount rate	$ 6.2	$ 6.5

Equity - Summary of Components

Equity - Summary of Components of AOCI as Reported in Condensed Consolidated Balance Sheets, and Changes in AOCI by Components, Net of Tax (Details) $ in Millions	Jun. 30, 2024 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (1.8)
Ending balance	$ (2)

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) Lease	Dec. 31, 2023 USD ($)
Lessee Lease Description [Line Items]
Assets recorded under finance leases, net of accumulated depreciation | $	$ 43.3	$ 37.6
Number of operating lease with related party | Lease	1
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 (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Lease, Cost [Abstract]
Operating lease expense	$ 6.4	$ 6.5	$ 13.2	$ 13.4
Short-term lease expense	1.5	1.2	3.9	2.9
Low-value lease expense	0.4	0.2	0.7	0.5
Variable lease expense	2.6	2.1	5.3	4.2
Finance lease expense:
Amortization of right-of-use assets	2.5	1.4	4.8	2.7
Interest on lease liabilities	0.9	0.6	1.8	1.1
Sublease income	(0.1)	(0.1)	(0.2)	(0.1)
Total lease expense	$ 14.2	$ 11.9	$ 29.5	$ 24.7

Leases - Schedule of Additional

Leases - Schedule of Additional Information Related To Leases (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$ 13.1	$ 12.9
Operating cash flows for finance leases	1.8	1.1
Financing cash flows for finance leases	4.3	2.4
Non-cash right-of-use assets obtained in exchange for lease obligations
Operating leases	7.5	3.4
Finance leases	$ 10.4	$ 9.7
Weighted Average Remaining Lease Term (in years):
Operating leases	8 years 9 months 18 days	9 years 1 month 6 days
Finance leases	4 years 7 months 6 days	4 years 7 months 6 days
Weighted Average Discount Rate (in %):
Operating leases	10.30%	10.20%
Finance leases	8.30%	8.10%

Leases - Schedule of Minimum Fu

Leases - Schedule of Minimum Future Lease Payments under Non-cancellable Operating and Finance Leases (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Remainder of 2024	$ 13.1
2025	23.6
2026	20.5
2027	19.1
2028	17.3
Thereafter	85.8
Total future minimum lease payments	179.4
Less: imputed interest	(64.2)
Operating lease expense	115.2
Remainder of 2024	6.3
2025	12.5
2026	11.8
2027	10.1
2028	8.1
Thereafter	5
Total future minimum lease payments	53.8
Less: imputed interest	(8.7)
Finance leases	45.1	$ 38.8
Current portion of long-term debt	9.4	7.7
Current operating lease liabilities	$ 15.5	$ 15.9
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	$ 35.7	$ 31.1
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	$ 99.7	$ 99.6
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	$ 160.3	$ 154.3

Contingencies - Additional Info

Contingencies - Additional Information (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Commitments And Contingencies [Line Items]
Guarantees accrued	$ 0	$ 0
Floor plan financing facility	217,600,000	317,500,000
Letter of Credit
Commitments And Contingencies [Line Items]
Floor plan financing facility	$ 12,000,000	$ 9,000,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ (2.7)	$ 0.3	$ (6.9)	$ 0.4
Effective income tax rate			22.50%	10.50%

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) - USD ($)			3 Months Ended		6 Months Ended
	Jun. 08, 2023	Apr. 01, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock shares outstanding			32,950,141		32,950,141		32,369,820
ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense				$ 0		$ 0
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
ESPP employee payroll contributions			$ 1,100,000		$ 1,100,000		$ 900,000
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense			1,200,000	1,100,000	2,300,000	1,900,000
Unrecognized compensation expense			2,400,000		$ 2,400,000
Unrecognized compensation expense, weighted average recognition period					1 year 3 months 18 days
PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense			1,200,000	$ 1,100,000	$ 2,300,000	$ 1,900,000
Unrecognized compensation expense			$ 4,500,000		$ 4,500,000
Unrecognized compensation expense, weighted average recognition period					1 year 3 months 18 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 Restricted And Performance Stock Granted, Vested and Forfeited (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
RSUs
Number of units
Number of units unvested, Beginning balance | shares	230,574
Number of units, Granted | shares	160,016
Number of units, Vested-issued | shares	(145,034)
Number of units, Vested-unissued | shares	(12,197)
Number of units, Forfeited | shares	(1,136)
Number of units unvested, Ending balance | shares	232,223
Weighted average grant date fair value
Weighted average grant date fair value unvested, Beginning balance | $ / shares	$ 12.27
Weighted average grant date fair value, Granted | $ / shares	10.94
Weighted average grant date fair value, Vested-issued | $ / shares	10.96
Weighted average grant date fair value, Vested-unissued | $ / shares	11.35
Weighted average grant date fair value, Forfeited | $ / shares	15.16
Weighted average grant date fair value unvested, Ending balance | $ / shares	$ 12.07
PSUs
Number of units
Number of units unvested, Beginning balance | shares	543,422
Number of units, Granted | shares	131,953
Number of units, Vested-issued | shares	(210,156)
Number of units unvested, Ending balance | shares	465,219
Weighted average grant date fair value
Weighted average grant date fair value unvested, Beginning balance | $ / shares	$ 13.37
Weighted average grant date fair value, Granted | $ / shares	12.05
Weighted average grant date fair value, Vested-issued | $ / shares	12.15
Weighted average grant date fair value unvested, Ending balance | $ / shares	$ 13.54

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	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated aggregate fair value	$ 727.7	$ 655.6
Aggregate carrying value	$ 762.7	$ 671.3

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Contingent Consideration Liabilities Measured and Recorded at Fair Value (Details) - Level 3 - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration	$ 5.7	$ 4.6
Other Current Liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration	1	0.4
Other Liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration	$ 4.7	$ 4.2

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Summary of Changes to Level 3 Instruments (Details) - Level 3 $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning balance	$ 4.6
Change in fair value	1.1
Ending balance	$ 5.7

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Summary of Maturity Dates Unit of Measure and Notional Value for Derivative Instruments (Details)	6 Months Ended
	Jun. 30, 2024 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	$ 5,600,000
Maturity date of derivatives	various through February 2026

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Summary of Derivative Instruments Measured at Fair Value (Details) - Interest Rate Cap - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Other Assets | Derivatives Designated as Hedges | Long Term
Derivative [Line Items]
Asset derivatives	$ 2.3	$ 1.7
Other Liabilities | Derivatives Not Designated as Hedge | Long Term
Derivative [Line Items]
Liability derivatives	0.8	1.6
Other Current Liabilities | Derivatives Designated as Hedges | Current Portion
Derivative [Line Items]
Liability derivatives	$ 1.6	$ 1.6

Business Combinations - Summary

Business Combinations - Summary of Net Assets Acquired by segment from Acquisition (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2023	Jun. 30, 2024
Business Acquisition [Line Items]
Goodwill		$ 76.7	$ 78.1
Assets acquired net of cash	$ 1.4
Material Handling
Business Acquisition [Line Items]
Goodwill		15	14.9
Construction
Business Acquisition [Line Items]
Goodwill		43.4	$ 44.9
2023 Acquisitions
Business Acquisition [Line Items]
Cash		1
Accounts receivable		8.2
Inventories		38.4
Prepaid expenses and other current assets		0.8
Rental fleet		11.8
Property and equipment		1.9
Operating lease right-of-use assets		4.6
Other intangible assets		14.4
Goodwill		8
Other assets		0.3
Total assets		89.4
Floor plan payable - new equipment		(9.2)
Accounts payable		(10)
Customer deposits		(0.1)
Accrued expenses		(3.1)
Current operating lease liabilities		(0.6)
Current deferred revenue		(0.6)
Long-term operating lease liabilities		(4)
Deferred tax liability		(6)
Total Liabilities		(33.6)
Net assets acquired		55.8
Assets acquired net of cash		54.8
2023 Acquisitions | Material Handling
Business Acquisition [Line Items]
Cash		0.1
Accounts receivable		0.3
Inventories		0.8
Rental fleet		1
Property and equipment		0.1
Operating lease right-of-use assets		1.9
Goodwill		1.1
Total assets		5.3
Accounts payable		(0.7)
Current operating lease liabilities		(0.2)
Long-term operating lease liabilities		(1.7)
Total Liabilities		(2.6)
Net assets acquired		2.7
Assets acquired net of cash		2.6
2023 Acquisitions | Construction
Business Acquisition [Line Items]
Cash		0.9
Accounts receivable		7.9
Inventories		37.6
Prepaid expenses and other current assets		0.8
Rental fleet		10.8
Property and equipment		1.8
Operating lease right-of-use assets		2.7
Other intangible assets		14.4
Goodwill		6.9
Other assets		0.3
Total assets		84.1
Floor plan payable - new equipment		(9.2)
Accounts payable		(9.3)
Customer deposits		(0.1)
Accrued expenses		(3.1)
Current operating lease liabilities		(0.4)
Current deferred revenue		(0.6)
Long-term operating lease liabilities		(2.3)
Deferred tax liability		(6)
Total Liabilities		(31)
Net assets acquired		53.1
Assets acquired net of cash		$ 52.2

Segments - Additional Informati

Segments - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024 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	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total revenues	$ 488.1	$ 468.4	$ 929.7	$ 889.1
Interest expense	19.2	13.7	35.3	25.7
Depreciation and amortization	38	33	72	61.1
Net income (loss)	(12.6)	1.7	(25.3)	1.9
Income (loss) before taxes	(14.6)	2.7	(30.7)	3.8
Operating Segments | Material Handling
Segment Reporting Information [Line Items]
Total revenues	175.6	169.1	349.9	333.9
Interest expense	5.9	4.4	11	8.3
Depreciation and amortization	10.4	8.7	20.1	16.8
Income (loss) before taxes	4.7	2.9	5.3	8
Operating Segments | Construction Equipment
Segment Reporting Information [Line Items]
Total revenues	294.9	281.5	550.5	514.6
Interest expense	11.8	7.9	21.6	14.5
Depreciation and amortization	26.2	23.2	49.1	42
Income (loss) before taxes	(5.2)	4.5	(15.2)	2.9
Operating Segments | Master Distribution
Segment Reporting Information [Line Items]
Total revenues	16.7	21.4	29.5	48.1
Interest expense	1	0.8	1.9	1.6
Depreciation and amortization	1.3	1	2.4	2.1
Income (loss) before taxes	(1.1)	1.4	(3.1)	4.8
Corporate, Non-Segment | Corporate and Other
Segment Reporting Information [Line Items]
Total revenues	0.9	(3.6)	(0.2)	(7.5)
Interest expense	0.5	0.6	0.8	1.3
Depreciation and amortization	0.1	0.1	0.4	0.2
Income (loss) before taxes	(13)	(6.1)	(17.7)	(11.9)
New and Used Equipment Sales
Segment Reporting Information [Line Items]
Total revenues	251.5	254.6	480.1	474.2
New and Used Equipment Sales | Operating Segments | Material Handling
Segment Reporting Information [Line Items]
Total revenues	90.2	90.2	184.3	177.7
New and Used Equipment Sales | Operating Segments | Construction Equipment
Segment Reporting Information [Line Items]
Total revenues	145.5	149.2	271.6	261.3
New and Used Equipment Sales | Operating Segments | Master Distribution
Segment Reporting Information [Line Items]
Total revenues	14.4	18.6	23.5	42.1
New and Used Equipment Sales | Corporate, Non-Segment | Corporate and Other
Segment Reporting Information [Line Items]
Total revenues	1.4	(3.4)	0.7	(6.9)
Parts Sales
Segment Reporting Information [Line Items]
Total revenues	78	71.3	150.9	139.7
Parts Sales | Operating Segments | Material Handling
Segment Reporting Information [Line Items]
Total revenues	26.9	26.4	51.8	51.4
Parts Sales | Operating Segments | Construction Equipment
Segment Reporting Information [Line Items]
Total revenues	49.2	42.6	95.1	83.5
Parts Sales | Operating Segments | Master Distribution
Segment Reporting Information [Line Items]
Total revenues	2.4	2.5	4.9	5.4
Parts Sales | Corporate, Non-Segment | Corporate and Other
Segment Reporting Information [Line Items]
Total revenues	(0.5)	(0.2)	(0.9)	(0.6)
Service Revenues
Segment Reporting Information [Line Items]
Total revenues	66.2	59.7	130.2	119.9
Service Revenues | Operating Segments | Material Handling
Segment Reporting Information [Line Items]
Total revenues	35.7	33	69.5	65.9
Service Revenues | Operating Segments | Construction Equipment
Segment Reporting Information [Line Items]
Total revenues	30.3	26.6	60.4	53.8
Service Revenues | Operating Segments | Master Distribution
Segment Reporting Information [Line Items]
Total revenues	0.2	0.1	0.3	0.2
Rental Revenues
Segment Reporting Information [Line Items]
Total revenues	53.7	49.6	102.2	93.1
Rental Revenues | Operating Segments | Material Handling
Segment Reporting Information [Line Items]
Total revenues	20	18.6	39	36.6
Rental Revenues | Operating Segments | Construction Equipment
Segment Reporting Information [Line Items]
Total revenues	33.3	30.8	62.4	56.1
Rental Revenues | Operating Segments | Master Distribution
Segment Reporting Information [Line Items]
Total revenues	0.4	0.2	0.8	0.4
Rental Equipment Sales
Segment Reporting Information [Line Items]
Total revenues	38.7	33.2	66.3	62.2
Rental Equipment Sales | Operating Segments | Material Handling
Segment Reporting Information [Line Items]
Total revenues	2.8	0.9	5.3	2.3
Rental Equipment Sales | Operating Segments | Construction Equipment
Segment Reporting Information [Line Items]
Total revenues	36.6	$ 32.3	$ 61	$ 59.9
Rental Equipment Sales | Operating Segments | Master Distribution
Segment Reporting Information [Line Items]
Total revenues	$ (0.7)

Segments - Summary of Identifie

Segments - Summary of Identified Assets by Reportable Segment (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 1,591.3	$ 1,570.9
Corporate and Other
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	42.1	63.1
Operating Segments | Material Handling
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	480.4	474.3
Operating Segments | Construction Equipment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	974.3	947.6
Operating Segments | Master Distribution
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 94.5	$ 85.9

Earnings Per Share - Summary of

Earnings Per Share - Summary of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic net (loss) income per share
Net (loss) income available to common stockholders	$ (12.6)	$ 1.7	$ (25.3)	$ 1.9
Basic weighted average common shares outstanding	33,239,620	32,368,112	33,174,158	32,296,067
Basic net (loss) income per share of common stock	$ (0.38)	$ 0.05	$ (0.76)	$ 0.06
Diluted (loss) income per share
Net (loss) income available to common stockholders	$ (12.6)	$ 1.7	$ (25.3)	$ 1.9
Basic weighted average common shares outstanding	33,239,620	32,368,112	33,174,158	32,296,067
Effect of dilutive securities:
Effect of dilutive securities		363,310		285,402
Diluted weighted average common shares outstanding	33,239,620	32,731,422	33,174,158	32,581,469
Diluted net (loss) income per share of common stock	$ (0.38)	$ 0.05	$ (0.76)	$ 0.06

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	796,000	979,000