Alta Equipment (ALTG) 10-Q 12 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 09, 2020
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
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	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	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		30,018,502
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
Warrants
Document Information [Line Items]
Title of 12(b) Security	Warrants, each exercisable for one share of common stock
Trading Symbol	ALTG WS
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash	$ 100,000
Accounts receivable, net	122,800,000	$ 101,200,000
Inventories, net	221,100,000	137,200,000
Prepaid expenses and other current assets	13,200,000	5,700,000
Total current assets	357,200,000	244,100,000
PROPERTY AND EQUIPMENT, NET	293,700,000	196,500,000
OTHER ASSETS
Goodwill	22,800,000	8,600,000
Intangible assets, net	24,200,000	3,000,000
Other assets	1,900,000	2,000,000
Total other assets	48,900,000	13,600,000
TOTAL ASSETS	699,800,000	454,200,000
CURRENT LIABILITIES
Lines of credit, net	139,000,000	72,500,000
Current portion of long-term debt	7,800,000	7,100,000
Accounts payable	62,800,000	31,100,000
Customer deposits	6,800,000	7,200,000
Accrued expenses	26,800,000	16,000,000
Other current liabilities	13,300,000	9,300,000
Total current liabilities	411,400,000	343,400,000
LONG-TERM LIABILITIES
Long-term debt, net of current portion	136,400,000	86,500,000
Capital lease obligations, net of current portion	800,000	1,400,000
Buyback residual obligations, net of current portion	800,000	700,000
Guaranteed purchase obligation, net of current portion	7,400,000	9,000,000
Lease liability, net of current portion	2,700,000	3,700,000
Deferred tax liability	15,600,000
Other liabilities	10,000,000	3,100,000
Warrant liability	0	29,600,000
TOTAL LIABILITIES	585,100,000	477,400,000
CONTINGENCIES - NOTE 11
STOCKHOLDERS’ EQUITY (DEFICIT)
Preferred stock, $0.0001 par value, 1,000,000 authorized and no shares outstanding at September 30, 2020
Additional paid-in capital	183,600,000
Treasury stock	(5,900,000)
Retained deficit	(63,000,000)	(23,200,000)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)	114,700,000	(23,200,000)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	699,800,000	454,200,000
New Equipment
CURRENT LIABILITIES
Floor plan payable	118,600,000	87,700,000
Used and Rental Equipment
CURRENT LIABILITIES
Floor plan payable	$ 36,300,000	$ 112,500,000

CONSOLIDATED BALANCE SHEETS(Una

CONSOLIDATED BALANCE SHEETS(Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Accounts receivable, net of allowances	$ 6.2	$ 4.4
Preferred stock, par value	$ 0.0001
Preferred stock, shares authorized	1,000,000
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares issued	29,511,359	7,300,000
Common stock, shares outstanding	29,511,359	7,300,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Net revenue	$ 220.6	$ 149.8	$ 593.2	$ 388
Cost of revenues:
Cost of revenue	163.9	105.6	443.1	277.7
Gross profit	56.7	44.2	150.1	110.3
General and administrative expenses	58.4	37.5	153.2	95.6
Depreciation and amortization expense	1.8	0.5	4.5	1.8
Total general and administrative expenses	60.2	38	157.7	97.4
(Loss) income from operations	(3.5)	6.2	(7.6)	12.9
Other income (expense)
Interest expense, floor plan payable – new equipment	(0.5)	(0.9)	(1.8)	(2.4)
Interest expense – other	(5.6)	(4.7)	(15.9)	(12.7)
Other income	8	0.3	8.7	0.9
Change in fair market of warrants		(28.3)		(28.3)
Loss on extinguishment of debt			(7.6)
Total other income (expense)	1.9	(33.6)	(16.6)	(42.5)
Loss before taxes	(1.6)	(27.4)	(24.2)	(29.6)
Income tax benefit	(1.9)	0	(3.4)	0
Net income (loss)	$ 0.3	$ (27.4)	$ (20.8)	$ (29.6)
Basic and diluted income (loss) per share	$ 0.01	$ (3.74)	$ (0.81)	$ (4.05)
Basic and diluted weighted average common shares outstanding	29,221,460	7,300,000	25,689,145	7,300,000
New and Used Equipment Sales
Revenues:
Net revenue	$ 97.9	$ 61.1	$ 275.2	$ 167.1
Cost of revenues:
Cost of revenue	84.4	53.4	240.3	146.6
Parts Sales
Revenues:
Net revenue	35.5	22.9	92.3	60
Cost of revenues:
Cost of revenue	24.3	14.9	63.3	39.4
Service Revenue
Revenues:
Net revenue	35.5	27.3	94.1	67.2
Cost of revenues:
Cost of revenue	13.5	10	35.9	24.3
Rental Revenue
Revenues:
Net revenue	32.2	27.8	83.4	66.9
Cost of revenues:
Cost of revenue	5.4	4.3	14.8	11.4
Rental Equipment Sales
Revenues:
Net revenue	19.5	10.7	48.2	26.8
Cost of revenues:
Cost of revenue	17.1	9.3	41.7	23.1
Rental Depreciation
Cost of revenues:
Cost of revenue	$ 19.2	$ 13.7	$ 47.1	$ 32.9

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDER'S EQUITY (DEFICIT) (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Deficit)	Treasury Stock
Balance at Dec. 31, 2018	$ 12.2			$ 12.2
Balance, shares at Dec. 31, 2018		7,300,000
Net income (loss)	(29.6)			(29.6)
Balance at Sep. 30, 2019	(17.4)			(17.4)
Balance, shares at Sep. 30, 2019		7,300,000
Balance at Jun. 30, 2019	10			10
Balance, shares at Jun. 30, 2019		7,300,000
Net income (loss)	(27.4)			(27.4)
Balance at Sep. 30, 2019	(17.4)			(17.4)
Balance, shares at Sep. 30, 2019		7,300,000
Balance at Dec. 31, 2019	(23.2)			(23.2)
Balance, shares at Dec. 31, 2019		7,300,000
Net income (loss)	(20.8)			(20.8)
Opening deferred tax liabilities under reverse recapitalization	(19)			(19)
Equity infusion from reverse recapitalization, net of transaction costs	175.7		$ 175.7
Equity infusion from reverse recapitalization, net of transaction costs, shares		21,911,359
Shares issued upon settlement of equity-linked incentive plan	3.1		3.1
Shares issued upon settlement of equity-linked incentive plan, shares		300,000
Disgorgement of short swing profits	1.6		1.6
Share based compensation	3.2		3.2
Share based compensation, shares		390,000
Repurchases of common stock	(5.9)	$ (390,000)			$ (5.9)
Balance at Sep. 30, 2020	114.7		183.6	(63)	(5.9)
Balance, shares at Sep. 30, 2020		29,511,359
Balance at Jun. 30, 2020	114.2		180.4	(63.3)	(2.9)
Balance, shares at Jun. 30, 2020		29,511,359
Net income (loss)	0.3			0.3
Share based compensation	3.2		3.2
Share based compensation, shares		390,000
Repurchases of common stock	(3)	$ (390,000)			(3)
Balance at Sep. 30, 2020	$ 114.7		$ 183.6	$ (63)	$ (5.9)
Balance, shares at Sep. 30, 2020		29,511,359

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
OPERATING ACTIVITIES
Net loss	$ (20.8)	$ (29.6)
Adjustments to reconcile net loss to net cash flows used in operating activities:
Depreciation and amortization	51.6	34.9
Amortization of debt discount and debt issuance costs	1.2	0.8
Inventory obsolescence	1.3	0.6
Gain on sale of rental equipment	(6.5)	(3.7)
Provision for bad debt	2.8	1.3
Loss on debt extinguishment	7.6
(Repayment) accrual of paid-in-kind interest	(11.2)	4.7
Change in fair value of warrants		28.3
Share-based payment	6.3
Changes in deferred taxes	(3.4)
Changes in:
Accounts receivable	6.2	(14.2)
Inventories	(102.8)	(53.2)
Proceeds from sale of rental equipment	48.2	26.8
Prepaid expenses and other assets	(5.5)	(1.3)
Proceeds from floor plans with manufacturers	240.5	183.1
Payments under floor plans with manufacturers	(273.1)	(188.4)
Accounts payable, accrued expenses, customer deposits, and other current liabilities	16	5.1
Leases and other liabilities	(3.1)	0.8
Net cash used in operating activities	(44.7)	(4)
INVESTING ACTIVITIES
Proceeds from the sale of assets	1
Expenditures for rental equipment	(34.5)	(18)
Expenditures for property and equipment	(4)	(2.1)
Expenditures for acquisitions, net of cash acquired	(128.8)	(65.6)
Net activity on notes and land contract receivable		0.1
Net cash used in investing activities	(166.3)	(85.6)
FINANCING ACTIVITIES
Expenditures for debt issuance costs	(2.7)	(0.1)
Extinguishment of floor plans and line of credit	(132.9)
Extinguishment of long-term debt	(82)
Redemption of former shareholder notes payable	(6.7)
Extinguishment of warrant liability	(29.6)
Proceeds from lines of credit	334.5	137.4
Payments under lines of credit	(187.1)	(88)
Proceeds from floor plans with unaffiliated source	63.5	81.4
Payments under floor plans with unaffiliated source	(61.3)	(50.7)
Proceeds from issuance of long-term debt, net	149.4	20
Payments on long-term debt	(4.8)	(9.1)
Payments on capital lease obligations	(0.6)	(0.7)
Equity proceeds from reverse recapitalization, net	175.7
Proceeds from disgorgement of short swing profits	1.6
Repurchases of common stock	(5.9)
Net cash provided by financing activities	211.1	90.2
NET CHANGE IN CASH	0.1	0.6
Cash, Beginning of year		1.5
Cash, End of period	0.1	2.1
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	$ 26	$ 9.7

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF OPERATIONS	Alta Equipment Group, Inc. (formerly known as B. Riley Principal Merger Corp.) (individually or as sometimes collectively together with its direct and indirect subsidiaries referred to herein as the “Company”), was incorporated in Delaware on October 30, 2018 as a blank check company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. On February 14, 2020, the Company consummated a reverse recapitalization pursuant to which the Company acquired Alta Equipment Holdings, Inc. pursuant to an agreement and plan of merger between the Company, BR Canyon Merger Sub Corp., a Delaware corporation and wholly-owned subsidiary of the Company (“Merger Sub”), Alta Equipment Holdings, Inc. and Ryan Greenawalt. This business merger will be referred to as “reverse recapitalization” throughout this document. In connection with the reverse recapitalization, Merger Sub merged with and into Alta Equipment Holdings, Inc., with Alta Equipment Holdings, Inc. surviving the reverse recapitalization as a direct, wholly owned subsidiary of the Company, and the Company changed its name from B. Riley Principal Merger Corp. to Alta Equipment Group, Inc. The Company and Alta Equipment Holdings, Inc. are the holding companies for Alta Enterprises, LLC. Alta Enterprises, LLC is the holding company for Alta Industrial Equipment Michigan; LLC; Alta Industrial Equipment Company, LLC; Alta Industrial Equipment New York, LLC; Alta Construction Equipment, LLC; Alta Construction Equipment Illinois, LLC; Alta Heavy Equipment Services, LLC; NITCO, LLC; Alta Construction Equipment Florida, LLC, and PeakLogix, LLC. The Company is engaged in the retail sale, service, and rental of lift trucks and construction equipment in the states of Michigan, Illinois, Indiana, Virginia and Florida as well as the Northeastern part of the United States. Unless the context otherwise requires, the use of the terms “the Company”, “we,” “us,” and “our” in these notes to the unaudited consolidated financial statements refers to Alta Equipment Group Inc. and its consolidated subsidiaries.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Basis of Presentation The accompanying unaudited interim consolidated financial statements include the consolidated accounts of the Company and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All significant intercompany transactions and balances have been eliminated in the preparation of the consolidated financial statements. Certain amounts in the prior year have been reclassified to conform with the presentation in the current year. The interim financial information is unaudited, but reflects all normal recurring adjustments that are, in the opinion of management, necessary to fairly present the information set forth herein. Operating results for the nine months ended September 30, 2020 is not necessarily indicative of the results that may be expected for the year ending December 31, 2020, and therefore, the results and trends in these interim consolidated financial statements may not be the same for the entire year. These interim consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and related notes in our Registration Statement on Form S-1, filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 25, 2020 (the “Registration Statement”), from which the consolidated balance sheet amounts as of December 31, 2019 were derived. There have been no material changes in the Company’s significant accounting policies as compared to the significant accounting policies described in the Registration Statement. COVID-19 Pandemic On March 11, 2020, the World Health Organization characterized the outbreak of COVID-19 as a global pandemic and recommended containment and mitigation measures. Subsequent to this characterization international, federal, state, and local public health and governmental authorities have taken extraordinary measures to contain and combat the outbreak and spread of COVID-19. These actions include travel restrictions, local quarantines, “stay-at-home” orders, and similar mandates for many individuals to substantially restrict daily activities and for many businesses to drastically reduce or cease customary operations. The Company’s response to the global COVID-19 pandemic has been measured, swift and determined with an emphasis on health and safety, operating costs and liquidity. Consistent with the actions taken by governmental authorities, virtually all of our sales and back office operations employees began working remotely in mid-March in order to reduce the spread of COVID-19. Broadly, as the Company was deemed “essential” by state and local governments, our facilities were able to remain open, albeit at reduced capacity since the beginning of the second quarter. As of September 30, 2020, all of our branches are fully operational although some of our administrative employees continued to work remotely. Despite the Company remaining operational since the second quarter of 2020, certain segments of our customer base were negatively impacted by COVID-19 and, as such, our revenues were negatively impacted as well. To mitigate the impact of reduced revenues, the Company implemented various cost savings measures in the second quarter of 2020. As business conditions and customer demand returned to more normalized levels, many of these cost savings measures and furlough programs were removed and eliminated in the third quarter. While our sales and service-related operations are performing near pre-COVID levels, our rental fleet utilization has lagged pre-COVID performance. The Company will continue to monitor utilization and, in-turn, rationalize rental fleet levels to match expected demand in the fourth quarter of 2020 and beyond. COVID-19’s impact on our last quarter of 2020 financial results and beyond will depend on future developments, such as the duration and scope of the outbreak and the potential for future “shelter in place” orders that could impact our employees, customers and suppliers. Although we have seen improvements as a result of the easing of various restrictions, we expect our full year 2020 results to be adversely affected by COVID-19. We believe we have sufficient liquidity to fund our operations as we work through the COVID-19 recovery. However, if there are future “shelter in place” orders or similar measures taken in the geographies that we operate in and the demand for our products and services is adversely impacted, we may take additional actions to further reduce costs and/or seek additional financing. Use of Estimates The COVID-19 outbreak has caused significant disruptions to national and global economies. Our businesses are designated as critical infrastructure companies by the government and, as such, have remained open. We have instituted various initiatives throughout the Company as part of our business continuity programs, and we are working to mitigate risk when disruptions occur. While we continue to expect this situation to be temporary, and we believe we have successfully navigated the second and third quarter of 2020, any longer-term impacts of COVID-19 (or a future pandemic of its nature) is currently difficult to predict with certainty. The nature of our business requires that we make estimates and assumptions in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. The COVID-19 outbreak has an impact on the approach to these estimates and assumptions and will continue to do so. Any increased severity of the COVID outbreak and the related future financial impacts cannot be estimated at this time. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts COVID-19 as of September 30, 2020 and through the date of this report. The accounting matters assessed included, but were not limited to, the Company’s allowance for doubtful accounts, inventory and related reserves and the carrying value of goodwill and other long-lived assets. While there was no material impact to the Company’s consolidated financial statements, as of and for the quarter ended September 30, 2020, the Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material impacts to the Company’s consolidated financial statements in future reporting periods. Impairment of Long-lived Assets The Company evaluates long-lived assets, such as property and equipment and intangible assets subject to amortization, for impairment annually and whenever events or changes in circumstances indicate that the carrying value of any asset group may not be recoverable. If the estimated future cash flow (undiscounted and without interest charges) from the use of an asset are less than the carrying value, a write-down would be recorded to reduce the related asset to its estimated fair value. When reviewing long-lived assets for impairment, the Company groups long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. After evaluating and weighing all relevant events and circumstances, the Company concluded that it was not necessary to perform an interim impairment test for the long-lived assets as of and for the period ended September 30, 2020. Goodwill Pursuant to the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 350, Intangibles-Goodwill and Other The Company evaluates goodwill for impairment at least annually, or more frequently if triggering events occur or other impairment indicators arise which might impair recoverability. Impairment of goodwill is evaluated at the reporting unit level. A reporting unit is defined as an operating segment (i.e. before aggregation or combination), or one level below an operating segment (i.e. a component). A component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component. After evaluating and weighing all relevant events and circumstances, the Company concluded there was no triggering event that constitutes the need to perform a goodwill impairment test for the period ended September 30, 2020. It should be noted that at March 31, 2020, the Company’s share price reduction as a result of the ongoing COVID-19 pandemic during the first quarter of 2020, was determined to be a triggering event for impairment testing under ASC 350. The Company performed an interim quantitative impairment analysis and the fair value of reporting units was determined based on valuation techniques using the best available information, primarily cash flow projections. At that time, we determined no goodwill impairment existed for the period. Offering Costs and Transaction Expenses The Company incurred costs directly attributable to its initial public offering, such as underwriter, registration and filing fees along with direct incremental legal, accounting, and professional fees relating to the Business Combination. The Company evaluated all the fees and approximately $2.6 million of expenses were recorded as an offset against proceeds of the reverse recapitalization. As of December 31, 2019, there were $0.7 million deferred as prepaid expenses and other current assets in our accompanying Consolidated Balance Sheets. These were deferred until completion of the reverse recapitalization, at which time $0.4 million were reclassified to additional paid-in capital as a reduction of the proceeds. Recurring and other incremental organizational costs including accounting and legal fees that were not directly attributable to the offering were expensed as incurred. Income Taxes The Company is a newly formed corporation for the income tax purposes. Alta Enterprises, LLC was historically and remains a partnership for federal income tax purposes, with each partner being separately taxed on its share of taxable income (loss). There is no federal income tax expense (benefit) reflected in the Company’s financial statements for any period prior to the reverse recapitalization on February 14, 2020. As the activity resides in Alta Enterprises, LLC, the income tax impact to the Company represents the current income tax calculated at the Consolidated Return level, (“Alta Equipment Group, Inc and Subsidiaries”), and the deferred impact of the interest in the lower tier partnership. When looking at the Consolidated Return filer, and considering the operating entity is a 100% owned partnership, Equity In conjunction with the reverse recapitalization, the Company made changes to its capital stock. The Company’s Amended and Restated Certificate of Incorporation authorizes the issuance of 201,000,000 shares of capital stock, consisting of (i) 200,000,000 shares of common stock, (the “Common Stock”) and (ii) 1,000,000 shares of preferred stock, par value $0.0001 per share. As of September 30, 2020, no shares of preferred stock authorized have been issued. As a result of the reverse recapitalization, the shares issued to Alta Equipment Holdings, Inc. shareholders in connection with the transaction are reflected as if they were issued and outstanding beginning on January 1, 2019. As of September 30, 2020, there were warrants outstanding to acquire 8,668,750 shares of the Company’s Common Stock. These warrants were issued in connection with the equity infusion related to reverse recapitalization. The Warrants entitle the registered holder to purchase one share of our Class A Common Stock at a price of $11.50 per share, subject to certain adjustments. The warrants will expire five years after the completion of our initial reverse recapitalization or earlier upon redemption or liquidation. Share Based Compensation The Board of Directors approved the Company’s 2020 Omnibus Incentive Plan, which enables the Company to grant stock options, stock appreciation rights, restricted stock, restricted stock units, unrestricted stock, other share based awards and cash awards to directors, employees and consultants to improve the ability of the Company to attract, retain, and motivate individuals upon whom the Company’s sustained growth and financial success depend, by providing such persons with an opportunity to acquire or increase their proprietary interest in the Company. We measure the employee stock-based awards at grant-date fair value using provisions of ASC 718 – Stock Compensation and record compensation expense over the vesting period of the award. The Company made an accounting election upon adoption of Accounting Standard Update (“ASU”) 2016-09 and will recognize forfeitures when they occur . The Company treated equity awards granted to non-employee directors similarly to the equity awards to employees upon adoption of ASU 2018-07. New Accounting Pronouncements Recent Accounting Pronouncements Adopted in 2020 Fair Value Measurement — Disclosure Framework (Topic 820) In August 2018, the FASB issued ASU No. 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement.” This ASU eliminates, modifies, and adds certain disclosure requirements on fair value measurements. Entities are no longer required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but public companies are required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. For public companies, this ASU is effective for financial statements issued for annual periods beginning after December 15, 2019, and interim periods within those annual periods, with early adoption permitted. Entities were permitted to early adopt any eliminated or amended disclosures and delay adoption of the additional disclosure requirements until the effective date. We adopted this ASU on the effective date of January 1, 2020. The adoption of this accounting standard update has not had a material impact on our consolidated financial statements and disclosures. Pronouncements Not Yet Adopted Leases (Topic 842) In February 2016, the FASB issued ASU No. 2016-02, Leases The Company is still assessing the impact Topic 842 will have on its future revenue and expenses. The new accounting standard is effective for the annual reporting period ended December 31, 2022 with an effective date of January 1, 2022, and the interim reporting periods beginning January 1, 2023. Early adoption is permitted. Management is currently assessing the impact the adoption of this standard will have on the Company’s consolidated financial statements as well as the available transition methods. Financial Instruments — Credit Losses (Topic 326) In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Measurement of expected credit losses is to be based on relevant forecasts that affect collectability. The scope of financial assets within the CECL methodology is broad and includes trade receivables from certain revenue transactions and certain off-balance sheet credit exposures. Different components of the guidance require modified retrospective or prospective adoption. As amended by ASU 2019-10, the ASU 2016-13 is effective for the annual reporting period beginning on or after December 15, 2022. The Company believes ASU 2016-13 will only have applicability to the Company’s receivables from revenue transactions, or trade receivables, except those arising from rental revenues as ASU 2016-13 does not apply to receivables arising from operating leases. The Company is currently evaluating whether the new guidance, while limited to our non-operating lease trade receivables, will have an impact on the consolidated financial statements or existing internal controls.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
REVENUE RECOGNITION	Revenues are recognized when control of promised goods or services is transferred to customers in an amount that reflects the consideration the business expects to be entitled to in exchange for those goods or services. Control is transferred when the customer has the ability to direct the use of and obtain the benefits from the goods or services. The majority of the Company’s sales agreements contain performance obligations satisfied at a point in time when control is transferred to the customer. For agreements with multiple performance obligations, which are rare, judgment is required to determine whether performance obligations specified in these agreements are distinct and should be accounted for as separate revenue transactions for recognition purposes. In these types of agreements, the Company generally allocates sales prices to each distinct performance obligation based on the observable selling price. The Company enters into various equipment sales transactions with certain customers, whereby customers purchase equipment from the Company and then lease the equipment to a third party. In some cases, the Company provides a guarantee to repurchase the equipment back at the end of the lease term between the customer and third party lessee at a set residual amount set forth in the initial sales contract or pay the customer for the deficiency, if any, between the sale proceeds received for the equipment and the guaranteed minimum resale value. The Company is precluded from recognizing a sale of equipment if it guarantees the repurchase of the sold equipment back or guarantees the resale value of the equipment to the customer for contracts determined to be operating leases. Rather, these transactions are accounted for in accordance with ASC 840, Lease Accounting The l ease liability, with respect to the aforementioned sale transactions, represents the net proceeds upon the equipment’s initial transfer. These amounts, excluding the guaranteed residual value, are recognized into rental revenue on a pro-rata basis over the leased contract period up to the first exercise date of the guarantee. At September 30, 2020 and December 31, 2019, the total lease liability relating to these various equipment sale transactions amounted to $4.1 million and $5.5 million, respectively. The Company also recognized a liability for its guarantee to repurchase the equipment at the residual amounts of $10.6 million and $12.5 million as of September 30, 2020 and December 31, 2019, respectively. The Company also enters into various rental agreements whereby owned equipment is leased to customers. Revenue from the majority of rental agreements is recognized over the term of the agreement in accordance with Topic 840. 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” on the Consolidated Balance Sheets. Rental equipment is also purchased outright (“rental conversions”). Rental revenue and revenue attributable to rental conversions, are recognized in “Rental revenue” and “Rental equipment sales” on the Consolidated Statements of Operations, respectively. The Company also enters into contracts with customer where it provides automated equipment installation and system integration services. Revenue from the installation services are recognized over time as the performance obligation is satisfied, determined using the cost-to-cost input method, based on contract costs incurred to date to total estimated contract costs. Deferred Revenue The Company recognizes deferred revenue with respect to service sales, rental agreements and automated equipment installation and system integration services. Deferred revenue with respect to service sales represents the unearned portion of fees related to guaranteed maintenance contracts for customers covering equipment purchased. These amounts are recognized based on an estimated rate at which the services are provided over the life of the contract. The Company also recognizes deferred revenue related to rental agreements. Total deferred revenue relating to service sales agreements, rental agreements and automated equipment installation and system integration services as of September 30, 2020 and December 31, 2019 was $9.8 million and $4.7 million, respectively. Disaggregation of Revenues The following table summarizes the Company’s disaggregated revenues as presented in the Consolidated Statement of Operations for the three months and nine months ended September 30, 2020 and 2019 by revenue type, and by the applicable accounting standard. Three months ended September 30, 2020 Three months ended September 30, 2019 Topic 840 Topic 606 Total Topic 840 Topic 606 Total Revenues: New and used equipment sales $ — $ 97.9 $ 97.9 $ — $ 61.1 $ 61.1 Parts sales — 35.5 35.5 — 22.9 22.9 Service revenue — 35.5 35.5 — 27.3 27.3 Rental revenue 32.2 — 32.2 27.8 — 27.8 Rental equipment sales — 19.5 19.5 — 10.7 10.7 Net revenue $ 32.2 $ 188.4 $ 220.6 $ 27.8 $ 122.0 $ 149.8 Nine months ended September 30, 2020 Nine months ended September 30, 2019 Topic 840 Topic 606 Total Topic 840 Topic 606 Total Revenues: New and used equipment sales $ — $ 275.2 $ 275.2 $ — $ 167.1 $ 167.1 Parts sales — 92.3 92.3 — 60.0 60.0 Service revenue — 94.1 94.1 — 67.2 67.2 Rental revenue 83.4 — 83.4 66.9 — 66.9 Rental equipment sales — 48.2 48.2 — 26.8 26.8 Net revenue $ 83.4 $ 509.8 $ 593.2 $ 66.9 $ 321.1 $ 388.0 The Company believes that the disaggregation of revenues from contracts to customers as summarized above, together with the discussion below, depicts how the nature, amount, timing and uncertainty of its revenues and cash flows are affected by economic factors. Leases revenues (Topic 840) New and used equipment sales: The Company enters into various equipment sale transactions with certain customers, whereby customers purchase equipment from the Company and then lease the equipment to a third party. In some cases, the Company provides a guarantee to repurchase the equipment back at the end of the lease term between the customer and third party lessee at a set residual amount set forth in the initial sales contract or pay the customer for the deficiency, if any, between the sale proceeds received for the equipment and the guaranteed minimum resale value. The Company is precluded from recognizing a sale of equipment when it is obligated or has an option to repurchase or guarantees the resale value of the equipment to the customer for contracts determined to be operating leases. For these arrangements, because the Company generally receives the full amount of the consideration at the beginning of the arrangement, the Company initially records deferred revenue for the amount received and recognizes revenue on a pro-rata basis over the term of the contract under Topic 840. Rental revenue: Owned equipment rentals represent revenues from renting equipment. The Company accounts for these rental contracts as operating leases. The Company recognizes revenue from equipment rentals in the period earned, regardless of the timing of billing to customers. A rental contract includes rates for daily, weekly or monthly use, and rental revenues are earned on a daily basis as rental contracts remain outstanding. Because the rental contracts can extend across multiple reporting periods, the Company records unbilled rental revenues and deferred rental revenues at the end of each reporting period. Revenues from contracts with customers (Topic 606) Accounting for the different types of revenues pursuant to Topic 606 are discussed below. Substantially all of the Company’s revenues under Topic 606 are recognized at a point in time rather than over time. New and used equipment sales: With the exception of bill-and-hold arrangements, 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. Under bill-and-hold arrangements, revenue is recognized when all configuration work is complete and the equipment has been set aside for final shipment, at which point the Company has determined control has been transferred. The Company does not offer material rights of return. The Company recognized approximately $7.1 million in revenues for the year-to-date period ended September 30, 2020 from automated equipment installation and system integration services as performance obligation was satisfied over time using the cost-to-cost input method, based on contract costs incurred to date to total estimated contract costs. 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. For parts that are shipped to a customer, the Company 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. The Company does not offer material rights of return. Service revenue: The Company records service revenue primarily from guaranteed maintenance and periodic maintenance contracts with customers. The Company recognizes periodic maintenance service revenues at the time such services are completed, which is when the control of the promised services is transferred over to the customer. The Company recognizes guaranteed maintenance service revenues over-time using an input method of costs incurred to estimated costs over the life of the related contract. Revenue recognized from guaranteed maintenance contracts totaled $12.0 million and $12.1 million for the year-to-date period ended September 30, 2020 and 2019, respectively. The Company also records service revenue from warranty contracts whereby the Company performs service on behalf of the 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. In some cases, certain rental agreements contain a rental purchase option, whereby the customer has an option to purchase the rented equipment during the term of the rental agreement. Revenues from the sale of rental equipment are recognized at the time the rental purchase option agreement has been approved and signed by both parties, as the equipment is already in the customer’s possession under the previous rental agreement, and therefore control has been transferred as title has been transferred. Contract costs The Company does not recognize assets associated with the incremental costs of obtaining a contract with a customer that the Company expects to recover (for example, a sales commission). Most of the Company’s revenue is recognized at a point in time or over a period of one year or less, and the Company has used the practical expedient that allows it to recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the Company otherwise would have recognized is one year or less. The amount of the costs associated with the revenue recognized over a period of greater than one year is insignificant. Receivables and contract assets and liabilities The Company has contract assets associated with contracts with customers. Contracts with customers do not generally result in material amounts billed to customers in excess of recognizable revenue. Deferred revenue associated with service contracts represents the unearned portion of revenue related to guaranteed maintenance contracts for customers covering equipment purchased. These amounts are recognized based on an estimated rate at which the services are provided over the life of the contract. Payment terms The Company’s revenues do not include material amounts of variable consideration under Topic 606. Payment terms may vary by the type of customer, location, and the type of products or services offered. The time between invoicing and when payment is due is not significant, and contracts do not generally include a significant financing component. Contracts with customers do not generally result in significant obligations associated with returns, refunds or warranties. Contract estimates and judgments The Company’s revenues accounted for under Topic 606 generally do not require significant estimates or judgments as the transaction price is generally fixed and clearly stated in the customer contracts. Contracts generally do not include multiple performance obligations, and accordingly do not require estimates of the standalone selling price for each performance obligation. Substantially all of the Company’s revenues are recognized at a point in time and the timing of the satisfaction of the applicable performance obligations is readily determinable. The Company’s revenues under Topic 606 are generally recognized at the time of delivery to, or pick-up by, the customer.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	The Company leases a subset of its

Inventories

Inventories	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
INVENTORIES	The components of inventories, net, consisted of the following (amounts in millions): September 30, December 31, 2020 2019 New equipment $ 153.3 $ 92.8 Used equipment 29.6 18.2 Work in process 4.2 3.3 Parts 37.1 24.8 Gross Inventory $ 224.2 $ 139.1 Inventory reserve (3.1 ) (1.9 ) $ 221.1 $ 137.2 Direct labor of $1.4 million and $1.2 million incurred for open service orders were capitalized and included in work in process at both September 30, 2020 and December 31, 2019. The remaining work in process balances as of September 30, 2020 and December 31, 2019 primarily represent parts applied to open service orders. Rental depreciation expense in connection with our new and used equipment was $0.9 and $2.4 million for the three and nine months ended September 30, 2020 and was $0.2 million and $1.5 million for the three and nine months ended September 30, 2019.

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2020
Property Plant And Equipment [Abstract]
PROPERTY AND EQUIPMENT	Property and equipment, net, consisted of the following (amounts in millions): September 30, December 31, 2020 2019 Rental fleet $ 396.8 $ 285.1 Equipment and leasehold improvements: Machinery and equipment 5.1 3.4 Autos and trucks 6.1 4.6 Leasehold improvements 8.6 7.0 Office equipment 3.0 2.3 Computer equipment 9.2 6.2 Total Cost $ 428.8 $ 308.6 Less: accumulated depreciation and amortization Rental fleet (120.3 ) (100.0 ) Equipment and leasehold improvements and computer equipment (14.8 ) (12.1 ) Total accumulated depreciation and amortization (135.1 ) (112.1 ) $ 293.7 $ 196.5 Total depreciation and amortization on property and equipment was $47.8 million and $33.2 million for the nine months ended September 30, 2020 and 2019 and $19.4 million and $14.0 million for the three months ended September 30, 2020 and 2019, respectively. The Company had assets related to capital leases, which are included in the machinery and equipment balance above. Such assets had gross carrying values totaling $3.9 million and $3.5 million, and accumulated amortization balances totaling $2.1 million and $1.3 million, as of September 30, 2020 and December 31, 2019, respectively. Of the $396.8 million and $285.1 million of gross cost of rental fleet, $15.4 million and $18.4 million were represented by guaranteed purchase obligation (“GPO”) assets as of September 30, 2020 and December 31, 2019, respectively.

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
GOODWILL	The following table summarizes the changes in the carrying amount of goodwill in total and by reportable segment as of September 30, 2020 and December 31, 2019 (amounts in millions): Industrial Equipment Construction Equipment Total Balance, December 31, 2019 $ 4.8 $ 3.8 $ 8.6 Additions 6.0 8.2 14.2 Balance, September 30, 2020 $ 10.8 $ 12.0 $ 22.8 See Note 15, Business Combinations for further information.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	The gross carrying amount of intangible assets and accumulated amortization as of September 30, 2020 and December 31, 2019 were as follows (amounts in millions): September 30, 2020 December 31, 2019 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Customer relationships $ 24.5 $ (2.4 ) $ 22.1 $ 5.4 $ (2.8 ) $ 2.6 Non-compete agreements 0.7 (0.1 ) 0.6 0.4 (0.3 ) 0.1 Tradenames 1.7 (0.2 ) 1.5 0.7 (0.4 ) 0.3 Total $ 26.9 $ (2.7 ) $ 24.2 $ 6.5 $ (3.5 ) $ 3.0 Amortization of intangible assets were $0.7 million and $1.4 million for the three and nine months ended September 30, 2020 and $0.1 million and $0.2 million for the three and nine months ended September 30, 2019, respectively. The Company concluded there was no triggering event that constitutes the need to perform finite-lived intangible assets for impairment for the period ended September 30, 2020.

Lines of Credit and Floor Plans

Lines of Credit and Floor Plans	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
LINES OF CREDIT AND FLOOR PLANS	Effective February 14, 2020, the Company amended and restated its credit facility with its first lien lender by entering into the Fifth Amended and Restated ABL First Lien Credit Agreement (“Amended and Restated Credit Agreement”) and the facility thereunder, the “ABL Facility”) 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. In connection with the Amended and Restated Credit Agreement, the Company amended and restated its floor plan facility with its first lien lender by entering into the Fifth Amended and Restated Floor Plan First Lien Credit Agreement (“Floor Plan Credit Agreement” and the facility thereunder, the “Floor Plan Facility”) by and among Alta Equipment Group Inc. and the other credit parties named therein, the lender JP Morgan Chase Bank, N.A., as Administrative Agent, Sole Bookrunner and Sole Lead Arranger. The Amended and Restated Credit Agreement, among other things, (i) moved the $85 million floor plan financing facility of the Fourth Amended and Restated First Lien Credit Agreement out of syndication and into the Floor Plan Credit Agreement, (ii) increased the total aggregate amount of indebtedness of all floor plans from $220 million to $225 million, (iii) increased the revolving line of credit borrowing capacity from $110 million to $300 million, and (iv) modified certain financial covenants. The Floor Plan Credit Agreement, among other things, (i) modified the floor plan financing facility with its first lien lender from $85 million to $40 million, and (ii) modified certain financial covenants. Line of Credit and Floor Plan — First Lien Lender The Company has an ABL Facility with its 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. The ABL Facility has a maximum borrowing capacity of $300 million and interest cost is the London Interbank Offered Rate (“LIBOR”) plus an applicable margin or the CB Floating Rate, depending on the borrowing. As of September 30, 2020, the Company had an outstanding ABL Facility balance of $140.5 million, excluding unamortized debt issuance costs. The effective interest rate was 2.1% at September 30, 2020. The Company has Floor Plan Facility with its first lien lender to finance new and used inventory and rental fleet equipment. This Floor Plan Facility has a maximum borrowing capacity of $40 million. The interest cost for the first lien lender floor plan facility is LIBOR plus an applicable margin. The effective interest rate at September 30, 2020 was 2.9%. The floor plan is collateralized by substantially all assets of the Company. As of September 30, 2020, the Company had an outstanding balance on their first lien lender floor plan facility of $30.7 million, excluding unamortized debt issuance costs. In relation to information regarding to our former line of credit and floor plans as of December 31, 2019, please refer to the “Lines of Credit and Floor Plans” footnote in our Registration Statement on Form S-1, filed with the SEC on March 25, 2020. Original Equipment Manufacturer (“OEM”) Captive Lenders and Suppliers’ Floor Plans The Company has floor plan financing facilities with several OEM captive lenders and suppliers for new and used inventory and rental equipment, each with borrowing capacities ranging from $10 million to $82.0 million. Primarily, the Company utilizes the facilities for purchases of new equipment inventories. Certain floor plans provide for a five to twelve-month interest only or deferred payment periods. In addition, certain floor plans provide for interest and principal free terms at the suppliers’ discretion. The Company routinely sells equipment that is financed under OEM captive lender floor plans prior to the original maturity date of the financing agreement. When this occurs, the related OEM captive lender floor plan payable becomes due to be paid at the time the equipment being financed is sold. With the recent acquisitions, the Company’s floor plan financing facilities with its OEM capital lenders and suppliers were amended to include the new locations and new entities. The floor plan financing facilities are secured by the equipment being financed, and contain operating company guarantees. The interest is LIBOR plus an applicable margin. The effective rates, excluding the favorable effect of interest-subsidies, as of September 30, 2020 ranged from 3.0% to 4.2%. As of September 30, 2020, the Company had an outstanding balance on these floor plans of $124.3 million. The total aggregate amount of indebtedness related to floor plan financing activities (including the first lien lender floor plan) facility cannot exceed $225.0 million at any time. Total borrowings related to floorplan financing as of September 30, 2020 was $155.0 million excluding unamortized debt issuance costs. For the nine months ended and three months ended September 30, 2020 the Company recognized interest expense associated with new equipment financed under its floor plan facilities of $1.8 million and $0.5 million. Maximum borrowings under the floor plans and ABL Facility are limited to $525 million. The total amount outstanding as of September 30, 2020 was $295.5 million, exclusive of debt issuance and deferred financings costs of $1.6 million.

Long-term Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
LONG-TERM DEBT	In connection with the reverse recapitalization, the Company entered into a new Note Purchase Agreement (the “Term Loan”) dated as of February 3, 2020, (i) (ii) and (iii) providing for the Notes Payable — Senior Lien Holder On December 27, 2017, the Company entered into a Note Purchase Agreement (the “Prior Note Purchase Agreement”) with a lender with an initial note commitment of $40 million, plus an additional delayed draw note commitment of $20 million. On April 31, 2018 and July 31, 2018, the Company borrowed $3.5 million and $5 million, respectively, against the $20 million delayed draw commitment. On May 1, 2019, the Company borrowed an additional $11.5 million against the $20 million delayed draw commitment. The notes were subject to payment-in-kind (PIK) interest at 10% on any unpaid principal amount from the date of issue through repayment, with all PIK interest added to the outstanding principal. The balance at December 31, 2019 included the initial note commitment of $40 million and delayed draws totaling $20 million, plus PIK interest of approximately $11.2 million, accrued from the initial funding date through the end of the year. The note was secured by a second priority lien on substantially all of the assets of the Company, including a pledge of equity interests, and were to mature on June 27, 2023. In connection with the December 27, 2017 note, warrants were issued enabling the purchase of 25% of the common units outstanding on a fully diluted basis at $0.01 per warrant unit. On February 14, 2020, in connection with the reverse recapitalization and in conjunction with entering into the and Term Loan, the Company . Subordinated Debt On December 27, 2017, the Company entered into notes payable to former shareholders of Alta Equipment Company, Inc., the Company’s former parent Company. The notes were unsecured, were subject to interest at 5%, with rights subordinated to the first lien lender and second lien lender. During the term of the notes, the Company paid holders’ semi-annual installments of accrued interest but maintained the option to capitalize such accrued interest amounts into the principal sum of each note. The notes were to mature December 2027. On February 14, 2020, in connection with the reverse recapitalization, and i n conjunction with entering into the and Term Loan, the Company repaid in full the subordinated debt to and terminated all commitments and discharged all guarantees related to those agreements has Term Loan On February 14, 2020, the Company entered into a Note Purchase Agreement which comprised of a term loan in an aggregate principal amount of $155.0 million with its second priority lien lender through syndication, with an initial maturity date of August 2025. In connection with the new Term Loan, the Company retired the Prior Note Purchase Agreement. As of September 30, 2020, outstanding borrowings under the term loan were $151.1 million, which included $6.9 million deferred financing costs and original issue discounts. Notes Payable — OEM Captive Lender On May 9, 2014, the Company entered into a Master Note Agreement with an OEM captive lender. These notes were payable in monthly installments, with interest ranging from 3.29% to 4.99%. The notes were secured by the specific assets financed and were to mature at various dates through October 2024. On February 14, 2020, in connection with the reverse recapitalization, the Company repaid in full the balance of the notes payable to the OEM captive lender. As of September 30, 2020, there were no notes payable to an OEM captive lender on our Consolidated Balance Sheet. Extinguishment of Debt In accordance with ASC Topic No. 470-50, “Debt – Modifications and Extinguishments” (Topic No. 470), the transactions noted above were determined to be an extinguishment of the existing debt and an issuance of new debt. As a result, the Company recorded a loss on the extinguishment of debt in the amount of $7.6 million in the line item “Loss on Extinguishment of Debt” in its Consolidated Statements of Operations. Of the $7.6 million loss on the extinguishment of debt, $3.9 million represented early call premiums that the Company paid to the holders of its Senior Lien Notes and OEM Captive Lender as a result of repurchasing both notes prior to their maturity. The remaining balance represented the write off of deferred financing fees related to the extinguishment of these debt facilities. The Company’s long-term debt consists of the following (amounts in millions): September 30, December 31, 2020 2019 Term Loan $ 151.1 $ — Senior lien holder — 71.2 OEM captive lender — 14.8 Subordinated debt — 6.7 First lien lender – term loan — 4.3 Subtotal $ 151.1 $ 97.0 Unamortized debt issuance costs (2.0 ) (2.5 ) Debt discount (4.9 ) (0.9 ) Total debt $ 144.2 $ 93.6 Less: Current maturities of long-term debt, net (7.8 ) (7.1 ) Long-term debt, net $ 136.4 $ 86.5 As of September 30, 2020, the Company was in compliance with the financial covenants set forth in its debt agreements. Promissory Note On June 12, 2020, the Company entered into an Notes Payable – Non-Contingent Consideration The Company acquired all the assets of PeakLogix on June 12, 2020. Pursuant to the purchase agreement, Sellers are entitled to additional cash payments of a minimum of $2.0 million through-out 5-year earn-out period

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
CONTINGENCIES	Guarantees As of September 30, 2020, and December 31, 2019, the Company was party to certain contracts in which it guarantees the performance of agreements between various third-party financial institutions. The terms of the guarantees range from three to five years. 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 $2.6 million and $3.3 million at September 30, 2020 and December 31, 2019, respectively. It is anticipated that the third parties will have the ability to repay the debt without the Company having to honor the guarantee; therefore, no amount has been accrued on the Consolidated Balance Sheets at September 30, 2020 and December 31, 2019. Legal Proceedings During the nine months ended September 30, 2020 and September 30, 2019, various claims and lawsuits, incidental to the ordinary course of business, were pending against the Company. In the opinion of management, after consultation with legal counsel, resolution of these matters is not expected to have a material effect on the Company’s consolidated financial statements.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted rates in effect for the year in which the difference is expected to reverse. Additionally, the impact of changes in the tax rates and laws on deferred taxes, if any, is reflected in the financial statement in the period of enactment. The deferred tax liabilities and assets for the Company represent the difference between the financial statement and tax basis of the partnership interest in Alta Enterprises, LLC. As such, the Company is using the single line item approach. The income tax benefit for the three and nine months ended September 30, 2020 and 2019 consisted of the following: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Federal taxes-current $ — $ — $ — $ — Federal taxes-deferred 1.4 — 2.6 — State taxes-current — — — — State taxes-deferred 0.5 — 0.8 — $ 1.9 $ — $ 3.4 $ — The Company recorded an income tax benefit of $1.9 million and $0 for the three months ended September 30, 2020 and 2019, income tax benefit of $3.4 million and $0 for the nine months ended September 30, 2020 and 2019, respectively. For the period ended September 30, 2019, the Company was not in existence and therefore does not have a comparable period. The income tax benefit covers the period starting with the reverse recapitalization on February 14, 2020 through the period ended September 30, 2020. The income tax results from the period January 1, 2020 through the day prior to the reverse recapitalization will be recognized by the predecessor. As of September 30, 2020, the Company had $15.6 million of net deferred tax liabilities. As discussed above, this represents the GAAP to tax difference in the basis of the underlying partnership, Alta Enterprises, LLC. This basis difference mirrors the GAAP to tax differences within the partnership, which primarily relate to property and equipment assets and other temporary items where the tax basis differs from the GAAP carrying amounts. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted in response to the COVID-19 pandemic. The CARES Act, among other thing s, includes various income and payroll tax provisions, modifications to federal net operating loss rules, business interest deduction limitations, and bonus depreciation eligibility for qualified improvement property. At this time, we plan to take advantage of both the payroll tax deferral and the employee retention credit. We are currently evaluating the full impact of these provisions and recent IRS guidance, but note that any portion of accrued payroll tax not paid out by December 31, 2020 may not be deductible for income tax purposes in 2020. Further evaluation is required to determine the current year impact. With regard to the Employee Retention Credit, as this only impacts payroll taxes which are recorded in pre-tax income, there would be no impact on the income tax provision.

Share Based Compensation

Share Based Compensation	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
SHARE BASED COMPENSATION	During the third quarter 2020, the Compensation Committee of our Board of Directors approved the grant of 690,000 shares of Restricted Stock Units (“RSUs”) to certain directors, officers and employees of the Company under the 2020 Omnibus Incentive Plan. The Company’s plan is to have broad-based, long-term programs intended to attract and retain talented employees and align stockholder and employee interests. We calculated the fair value of the RSUs 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 vesting period of the award. The Company recognized total compensation expense of $3.2 million for the three months and nine months ended September 30, 2020, respectively. On August 18, 2020, Robert T. Chiles, President of our Construction Group, passed away. Mr. Chiles was the holder of RSUs for 390,000 shares of common stock of the Company, and at his passing these RSU’s became fully vested and converted into 390,000 shares of our common stock. As a result of the immediate vesting of these RSUs, the Company incurred $3.0 million expense. As of September 30, 2020, the total unrecognized compensation expense related to the non-vested portion of the Company's restricted stock awards was $2.0 million, which is expected to be recognized over a weighted average period of 3.0 years. The following table shows the number of restricted stock awards that were granted and vested during 2020: Restricted Stock Awards Number of units Weighted average grant date fair value Granted 690,000 $ 7.60 Vested (390,000 ) $ 7.60 Forfeited — $ — As of September 30, 2020 300,000 $ 7.60

Fair Value Instruments

Fair Value Instruments	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE INSTRUMENTS	The carrying value of financial instruments reported in the accompanying Consolidated Balance Sheets for cash, accounts receivable, accounts payable and accrued expenses payable and other liabilities approximate fair value due to the immediate or short-term nature or maturity of these financial instruments. Based upon current borrowing rates with similar maturities, which are Level 2 fair value inputs, the carrying value of lines of credit, long-term debt, and the guaranteed purchase obligations approximates the fair value as of September 30, 2020 and December 31, 2019. The following is a description of the valuation methodologies used for assets and liabilities measured at fair value on a recurring basis: The Company granted warrants to purchase 33,333.33 shares of common units in connection with the stock purchase and redemption that occurred on December 27, 2017. The warrants had an exercise price of $0.01 and included a conditional put option, allowing the holder to require the Company to purchase the outstanding warrants, via a settlement upon the following events: (1) upon 75% repayment of senior indebtedness, (2) change in control from a sale transaction, and (3) the maturity of the related debt, which required the Company to settle the warrants in cash. The warrants were to expire December 27, 2027. The warrants also included a limited call right, where in the event of a sale transaction, the Company had the right to redeem, in cash, all the warrants simultaneously at the per common share price equal to the price set for the sale transaction. On February 14, 2020, the Company consummated its reverse recapitalization. The Company recorded the warrants issued based on the fair value at the date of grant and re-measured at each balance sheet date. The fair value of warrants classified as liabilities at the date of grant was estimated using a market approach. The valuation methodology was primarily a market-based approach using participants in the industrial and heavy-equipment retailing, wholesaling, and rental industry. A range of multiples was established taking company-specific risks into consideration and applied to Alta’s reported EBITDA to derive an implied enterprise value. To derive equity value, interest-bearing debt was removed. The preceding methods described produced a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although management believed its valuation methods to be appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could have resulted in a different fair value measurement at the reporting date. The Company redeemed all the warrants outstanding upon closing of the reverse recapitalization on February 14, 2020 and as of September 30, 2020, there were no warrant liabilities on the Consolidated Balance Sheet. Contingent Consideration The contingent consideration liability represents the fair value of the future earn-out liability that the Company may be required to pay in conjunction with the acquisitions upon the achievement of certain performance milestones. The earn-out for the acquisitions is measured at fair value in each reporting period, based on level 3 inputs, with any change to the fair value recorded in the Consolidated Statements of Operations. PeakLogix LLC (“PeakLogix”) The purchase agreement for the PeakLogix acquisition provides for earn-out payments of a minimum of $2.0 million up to $3.7 million which can be earned through June 30, 2025 based on meeting certain performance milestones The Company concluded the future minimum cash payments of $2.0 million will be treated as a non-contingent liability and recorded a $1.7 million liability related to the present value of these minimum cash payments. See Note 10, Long-Term Debt and Note 15, Business Combinations for further information. In addition to the non-contingent liability, there is a potential earn out payment of $1.7 million to be paid to Sellers over a five-year period. The Company recorded a $1.0 million earn out liability as the acquisition date fair value in “Other Liabilities” on the Consolidated Balance Sheet. See Note 15, Business Combinations for further information. Hilo Equipment & Services (“Hilo”) The purchase agreement for the Hilo acquisition provides for one additional earn-out payment of $1.0 million based on meeting certain financial target which can be earned through July 1, 2023 The following table sets forth, by level of hierarchy, the provisional fair value of contingent liability for the earn-out considerations at net present value as of September 30, 2020, which was presented in “Other liabilities” on the Consolidated Balance Sheet: September 30, 2020 Level 1 Level 2 Level 3 Liabilities: Contingent consideration $ — $ — $ 1.8

Business Combinations

Business Combinations	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
BUSINESS COMBINATIONS	The following table summarizes the net assets acquired from the acquisitions in 2020 (amounts in millions): Flagler Liftech Peak Hilo Martin Total Cash $ 0.4 $ — $ 3.0 $ 2.1 $ — $ 5.5 Accounts receivable 15.1 4.4 4.6 5.5 1.0 30.6 Inventory 37.5 9.6 0.4 4.7 13.2 65.4 Prepaid and other assets 0.5 1.0 0.2 0.2 — 1.9 Property, plant, and equipment 50.7 5.9 0.2 9.2 0.1 66.1 Intangible assets 14.0 0.7 4.6 3.1 — 22.4 Goodwill 6.0 2.0 1.9 2.1 2.2 14.2 Total Assets $ 124.2 $ 23.6 $ 14.9 $ 26.9 $ 16.5 $ 206.1 Floor plan payable (29.0 ) (3.5 ) — (4.4 ) — (36.9 ) Accounts payable (14.0 ) (1.6 ) (1.5 ) (2.8 ) (0.2 ) (20.1 ) Accrued expenses (4.1 ) — (0.1 ) (0.3 ) (0.1 ) (4.6 ) Other current liabilities — (0.1 ) (3.9 ) (0.4 ) — (4.4 ) Other liabilities (1.3 ) — — — — (1.3 ) Total Liabilities $ (48.4 ) $ (5.2 ) $ (5.5 ) $ (7.9 ) $ (0.3 ) $ (67.3 ) Net Assets Acquired $ 75.8 $ 18.4 $ 9.4 $ 19.0 $ 16.2 $ 138.8 Assets acquired net of cash $ 75.4 $ 18.4 $ 6.4 $ 16.9 $ 16.2 $ 133.3 Flagler On February 14, 2020, in connection with the reverse recapitalization, the Company consummated its acquisition of Flagler for a total purchase price of $75.8 million, which was paid out of funds from the closing of the reverse recapitalization. T he acquisition has been accounted for as a purchase business combination. Under the purchase method of accounting, the assets acquired, and liabilities assumed have been recorded at the acquisition date at their respective fair values in our consolidated financial statements and may be subject to adjustment pending completion of final valuation. The fair value of accounts receivable was determined based on the acquisition date net book value and an evaluation of amounts deemed recoverable through subsequent collection. The fair value of inventory and property, plant, and equipment were estimated to approximate their respective acquisition date net book values. The Company expects the goodwill recognized to be 100% deductible for income tax purposes. Costs and expenses related to the acquisition have been expensed as incurred in operating expenses. It should be further noted that, upon the acquisition’s close, the Company established additional floorplan borrowings for new equipment on its Floor Plan Facility with its first lien lender in the amount of $1.2 million, for a total enterprise value of $74.2 million net of cash acquired. Liftech On February 14, 2020, in connection with the reverse recapitalization, the Company consummated its acquisition of Liftech for a total purchase price of $18.4 million, T he acquisition has been accounted for as a purchase business combination. Under the purchase method of accounting, the assets acquired, and liabilities assumed have been recorded at the acquisition date at their respective fair values in our consolidated financial statements and may be subject to adjustment pending completion of final valuation. The fair value of accounts receivable was determined based on the acquisition date net book value and an evaluation of amounts deemed recoverable through subsequent collection. The fair value of inventory and property, plant, and equipment were estimated to approximate their respective acquisition date net book values. The Company expects the goodwill recognized to be 100% deductible for income tax purposes. Costs and expenses related to the acquisition have been expensed as incurred in operating expenses. It should be further noted that, upon the acquisition’s close, the Company established additional floorplan borrowings for new equipment on its Floor Plan Facility with its first lien lender in the amount of $2.5 million, for a total enterprise value of $15.9 million. PeakLogix On June 12, 2020, the Company acquired all the assets of PeakLogix for a total purchase cash consideration of $5.7 million, which was paid out of available funds. Additional consideration includes $1.0 million in an unsecured one-year promissory note at 6% and earn-out payment of a minimum $2.0 million up to a $3.7 million to be paid out to former owners based on meeting certain financial targets through-out 5-year earn-out period, collectively resulting in an estimated enterprise value of $6.4 million net of cash acquired. In connection with the purchase, PeakLogix LLC was created. See Note 10, Long-Term Debt and Note 14, Fair Value Instruments for further information. T he acquisition has been accounted for as a purchase business combination. Under the purchase method of accounting, the assets acquired, and liabilities assumed have been recorded at the acquisition date at their respective fair values in our consolidated financial statements and may be subject to adjustment pending completion of final valuation. The fair value of accounts receivable was determined based on the acquisition date net book value and an evaluation of amounts deemed recoverable through subsequent collection. The fair value of property, plant, and equipment were estimated to approximate their respective acquisition date net book values. The Company expects the goodwill recognized to be 100% deductible for income tax purposes. The following table summarizes the components of the purchase price at June 12, 2020: Cash consideration paid * $ 5.7 Promissory Note 1.0 Present value of non-contingent earn-out liability 1.7 Earn-out liability 1.0 Total purchase price $ 9.4 * Includes $3.0 million cash acquired as part of the Business Combination Hilo On July 1, 2020, the Company acquired all the assets of Hilo for a total purchase cash consideration of $18.2 million which was paid out of available funds, and potential earn out payments of an additional $1.0 million. T he acquisition has been accounted for as a purchase business combination. Under the purchase method of accounting, the assets acquired, and liabilities assumed have been recorded at the acquisition date at their respective fair values in our consolidated financial statements and may be subject to adjustment pending completion of final valuation. The fair value of accounts receivable was determined based on the acquisition date net book value and an evaluation of amounts deemed recoverable through subsequent collection. The fair value of inventory and property, plant, and equipment were estimated to approximate their respective acquisition date net book values. The Company expects the goodwill recognized to be 100% deductible for income tax purposes. It should be further noted that, upon the close of the acquisition, total enterprise value was $16.9 million net of cash acquired. The following table summarizes the component of the purchase price at July 1, 2020: Cash consideration paid * $ 18.2 Earn-out liability 0.8 Total purchase price $ 19.0 * Includes $2.1 million cash acquired as part of the Business Combination Martin Implement Sales, Inc. (“Martin”) On September 1, 2020, the Company acquired all the assets of Martin for a total purchase price of $16.2 million, which included floorplan eligible new equipment inventories that was paid out of available funds. T he estimated fair values of assets acquired, and liabilities assumed are provisional and are based on the information that was available as of the balance sheet date. The Company expects to finalize the valuation and complete the purchase price allocation as soon as practical but no later than one year from the acquisition date. T Costs and expenses related to the acquisition have been expensed as incurred in operating expenses . It should be further noted that, upon the close of the acquisition, the Company established additional floorplan borrowings for new equipment on its Floor Plan Facility with its first lien lender in the amount of $2.1 million, for a total enterprise value of $14.1 million. Northland Industrial Truck Co., Inc. (“NITCO”) The following table summarizes the net assets acquired from the acquisition in 2019 (amounts in millions): NITCO Accounts receivable $ 13.9 Other current & non-current assets 0.5 Inventory 35.7 Guaranteed purchase obligation asset 9.7 Property, plant, and equipment 18.8 Identifiable intangible assets 3.3 Goodwill 1.0 Total Assets $ 82.9 Accounts payable (5.2 ) Guaranteed purchase obligation liability (9.7 ) Capital lease obligations (1.3 ) Other liabilities (1.1 ) Total Liabilities $ (17.3 ) Net Assets Acquired $ 65.6 On May 1, 2019, the Company purchased the assets of NITCO, for a total purchase price of $65.6 million. In connection with the purchase, NITCO, LLC was created. The goodwill of $1.0 million arising from the acquisition consists largely of an assembled workforce and is expected to be deductible for income tax purposes. The total balance of goodwill was allocated to the Industrial Equipment segment. The acquisition has been accounted for as a purchase business combination. Under the purchase method of accounting, the assets and liabilities assumed are recorded at the date of acquisition at their respective fair values. The fair value of accounts receivable was determined based on the acquisition date net book value and an evaluation of amounts deemed recoverable through subsequent collection. The fair value of inventory and property, plant, and equipment were estimated to approximate their respective acquisition date net book values. It should be further noted that, upon the close of the acquisition, the Company established additional floorplan borrowings for new equipment on its Floor Plan Facility with its first lien lender, and OEMs, in the amount of $23.5 million, for a total enterprise value of $42.1 million. Pro forma financial information - 2020 The Company completed the Flagler acquisition on February 14, 2020. Therefore, operating results of Flagler are included in the Company’s Consolidated Statement of Operations from February 14, 2020. Pursuant to ASC 805, pro forma disclosures should be reported whenever the year or interim period of the acquisition is presented. The pro forma information below gives effect to the Flagler acquisition as if the acquisition occurred on January 1, 2020. 9 Months ended September 30, 2020 1/1-9/30 1/1-2/14 The Company Flagler Total Total revenues $ 593.2 $ 25.8 $ 619.0 Net loss $ (20.8 ) $ (0.1 ) $ (20.9 ) Pro forma financial information - 2019 The Company completed the NITCO acquisition on May 1, 2019. Therefore, operating results of NITCO are included in the Company’s Consolidated Statement of Operations from May 1, 2019. Pursuant to ASC 805, pro forma disclosures should be reported whenever the year or interim period of the acquisition is presented. Since the NITCO acquisition was completed in the period ended December 31, 2019, the pro forma information below gives effect to the NITCO acquisition as if the acquisition occurred on January 1, 2019. The Company, for this presentation, prorated NITCO pro forma financial information presented in our Registration Statement on Form S-1, filed with the SEC on March 25, 2020. 9 Months ended September 30, 2019 3 Months ended September 30, 2019 1/1-9/30 1/1-4/30 1/1-9/30 6/30-9/30 6/30-9/30 The Company NITCO Flagler Total The Company Flagler Total Total revenues $ 388.0 $ 45.2 $ 139.8 $ 573.0 $ 149.8 $ 48.4 $ 198.2 Net (loss) income $ (29.6 ) $ 1.0 $ 0.8 $ (27.8 ) $ (27.4 ) $ 2.2 $ (25.2 ) The financial effect of the other acquisitions, individually and in the aggregate, was not material to the consolidated financial statements. As such, pro forma results of operations including other acquisitions have not been presented.

Segments

Segments	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
SEGMENTS	The Company has two reportable segments: Industrial Equipment and Construction Equipment. The Company’s segments are determined based on management structure, which is organized based on types of products sold, as described in the following paragraph. The operating results for each segment are reported separately to the Company’s Chief Executive Officer to make decisions regarding the allocation of resources, to assess the Company’s operating performance and to make strategic decisions. The Industrial Equipment segment is principally engaged in operations related to the sale, service, and rental of lift trucks in Michigan, Illinois, Indiana and New York, as well as parts of the northeastern United States. As of September 30, 2020, the Industrial Equipment segment included the Liftech, PeakLogix and Hilo acquisitions. The Construction Equipment segment is principally engaged in operations related to the sale, service, and rental of construction equipment in Michigan, Illinois and Florida. As of September 30, 2020, the Construction Equipment segment included the Flagler and Martin acquisitions. The Company retains various unallocated expense items at the general corporate level, which the Company refers to as “Corporate” in the table below. Corporate holds corporate debt and has minor activity all together. For the nine months ended September 30, 2020, Corporate incurred $7.6 million in debt extinguishment fees, $7.6 million in transaction costs and other expenses associated with the reverse recapitalization. During the quarter, Corporate primarily incurred expenses associated with consulting and legal fees related to acquisition costs, shared based compensation expense and interest expense, which were offset with income tax benefit and $8.0 million in income from a life insurance policy on our Construction Group President The following table presents the Company’s results of operations by reportable segment for the nine months ended September 30, 2020 (amounts in millions): Industrial Equipment Construction Equipment Corporate Total New and used equipment sales $ 152.7 $ 122.5 $ — $ 275.2 Parts sales 43.7 48.6 — 92.3 Service revenue 61.8 32.3 — 94.1 Rental revenue 34.2 49.2 — 83.4 Rental equipment sales 12.3 35.9 — 48.2 Total revenue $ 304.7 $ 288.5 $ — $ 593.2 Interest expense 4.3 7.8 5.6 17.7 Depreciation and amortization 17.0 34.6 — 51.6 Net income (loss) $ 7.9 $ (14.8 ) $ (13.9 ) $ (20.8 ) The following table presents the Company’s results of operations by reportable segment for the three months ended September 30, 2020 (amounts in millions): Industrial Equipment Construction Equipment Corporate Total New and used equipment sales $ 58.7 $ 39.2 $ — $ 97.9 Parts sales 16.7 18.8 — 35.5 Service revenue 23.4 12.1 — 35.5 Rental revenue 12.2 20.0 — 32.2 Rental equipment sales 4.0 15.5 — 19.5 Total revenue $ 115.0 $ 105.6 $ — $ 220.6 Interest expense 1.4 2.7 2.0 6.1 Depreciation and amortization 6.4 14.6 — 21.0 Net income (loss) $ 2.8 $ (8.6 ) 6.1 $ 0.3 The following table presents the Company’s results of operations by reportable segment for the nine months ended September 30, 2019 (amounts in millions): Industrial Equipment Construction Equipment Corporate Total New and used equipment sales $ 98.3 $ 68.8 $ — $ 167.1 Parts sales 35.7 24.3 — 60.0 Service revenue 48.4 18.8 — 67.2 Rental revenue 26.9 40.0 — 66.9 Rental equipment sales 2.5 24.3 — 26.8 Total revenue $ 211.8 $ 176.2 $ — $ 388.0 Interest expense 3.3 6.0 5.8 15.1 Depreciation and amortization 11.6 23.1 — 34.7 Net income (loss) $ 8.0 $ (2.3 ) $ (35.3 ) $ (29.6 ) The following table presents the Company’s results of operations by reportable segment for the three months ended September 30, 2019 (amounts in millions): Industrial Equipment Construction Equipment Corporate Total New and used equipment sales $ 41.5 $ 19.6 $ — $ 61.1 Parts sales 14.3 8.6 — 22.9 Service revenue 20.2 7.1 — 27.3 Rental revenue 12.0 15.8 — 27.8 Rental equipment sales 0.7 10.0 — 10.7 Total revenue $ 88.7 $ 61.1 $ — $ 149.8 Interest expense 1.3 2.1 2.2 5.6 Depreciation and amortization 4.9 9.3 — 14.2 Net income (loss) $ 4.9 $ (1.4 ) (30.9 ) $ (27.4 ) The following table presents the Company’s identified assets by reportable segment for the period ending September 30, 2020 and December 31, 2019 (amounts in millions): September 30, 2020 December 31, 2019 Segment assets: Industrial equipment $ 257.9 $ 207.5 Construction equipment 441.1 246.0 Corporate 0.8 0.7 Total assets $ 699.8 $ 454.2

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	On October 30, 2020, the Company closed its acquisition of all the assets of Howell Tractor and Equipment, LLC. (“Howell”), a privately held heavy equipment dealer serving Northern Illinois and Northwest Indiana. The purchase price consisted of $23.3 million in cash paid at closing, subject to certain adjustments based upon Howell’s net working capital at closing. Additionally, the Company issued 507,143 shares of its common stock in connection with the purchase agreement, yielding a total enterprise value of approximately $23.8 million, excluding approximately $3.4 million of floorplan eligible new equipment inventories.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements include the consolidated accounts of the Company and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All significant intercompany transactions and balances have been eliminated in the preparation of the consolidated financial statements. Certain amounts in the prior year have been reclassified to conform with the presentation in the current year. The interim financial information is unaudited, but reflects all normal recurring adjustments that are, in the opinion of management, necessary to fairly present the information set forth herein. Operating results for the nine months ended September 30, 2020 is not necessarily indicative of the results that may be expected for the year ending December 31, 2020, and therefore, the results and trends in these interim consolidated financial statements may not be the same for the entire year. These interim consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and related notes in our Registration Statement on Form S-1, filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 25, 2020 (the “Registration Statement”), from which the consolidated balance sheet amounts as of December 31, 2019 were derived. There have been no material changes in the Company’s significant accounting policies as compared to the significant accounting policies described in the Registration Statement.
COVID 19 Pandemic	COVID-19 Pandemic On March 11, 2020, the World Health Organization characterized the outbreak of COVID-19 as a global pandemic and recommended containment and mitigation measures. Subsequent to this characterization international, federal, state, and local public health and governmental authorities have taken extraordinary measures to contain and combat the outbreak and spread of COVID-19. These actions include travel restrictions, local quarantines, “stay-at-home” orders, and similar mandates for many individuals to substantially restrict daily activities and for many businesses to drastically reduce or cease customary operations. The Company’s response to the global COVID-19 pandemic has been measured, swift and determined with an emphasis on health and safety, operating costs and liquidity. Consistent with the actions taken by governmental authorities, virtually all of our sales and back office operations employees began working remotely in mid-March in order to reduce the spread of COVID-19. Broadly, as the Company was deemed “essential” by state and local governments, our facilities were able to remain open, albeit at reduced capacity since the beginning of the second quarter. As of September 30, 2020, all of our branches are fully operational although some of our administrative employees continued to work remotely. Despite the Company remaining operational since the second quarter of 2020, certain segments of our customer base were negatively impacted by COVID-19 and, as such, our revenues were negatively impacted as well. To mitigate the impact of reduced revenues, the Company implemented various cost savings measures in the second quarter of 2020. As business conditions and customer demand returned to more normalized levels, many of these cost savings measures and furlough programs were removed and eliminated in the third quarter. While our sales and service-related operations are performing near pre-COVID levels, our rental fleet utilization has lagged pre-COVID performance. The Company will continue to monitor utilization and, in-turn, rationalize rental fleet levels to match expected demand in the fourth quarter of 2020 and beyond. COVID-19’s impact on our last quarter of 2020 financial results and beyond will depend on future developments, such as the duration and scope of the outbreak and the potential for future “shelter in place” orders that could impact our employees, customers and suppliers. Although we have seen improvements as a result of the easing of various restrictions, we expect our full year 2020 results to be adversely affected by COVID-19. We believe we have sufficient liquidity to fund our operations as we work through the COVID-19 recovery. However, if there are future “shelter in place” orders or similar measures taken in the geographies that we operate in and the demand for our products and services is adversely impacted, we may take additional actions to further reduce costs and/or seek additional financing.
Use of Estimates	Use of Estimates The COVID-19 outbreak has caused significant disruptions to national and global economies. Our businesses are designated as critical infrastructure companies by the government and, as such, have remained open. We have instituted various initiatives throughout the Company as part of our business continuity programs, and we are working to mitigate risk when disruptions occur. While we continue to expect this situation to be temporary, and we believe we have successfully navigated the second and third quarter of 2020, any longer-term impacts of COVID-19 (or a future pandemic of its nature) is currently difficult to predict with certainty. The nature of our business requires that we make estimates and assumptions in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. The COVID-19 outbreak has an impact on the approach to these estimates and assumptions and will continue to do so. Any increased severity of the COVID outbreak and the related future financial impacts cannot be estimated at this time. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts COVID-19 as of September 30, 2020 and through the date of this report. The accounting matters assessed included, but were not limited to, the Company’s allowance for doubtful accounts, inventory and related reserves and the carrying value of goodwill and other long-lived assets. While there was no material impact to the Company’s consolidated financial statements, as of and for the quarter ended September 30, 2020, the Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material impacts to the Company’s consolidated financial statements in future reporting periods.
Impairment of Long-lived Assets	Impairment of Long-lived Assets The Company evaluates long-lived assets, such as property and equipment and intangible assets subject to amortization, for impairment annually and whenever events or changes in circumstances indicate that the carrying value of any asset group may not be recoverable. If the estimated future cash flow (undiscounted and without interest charges) from the use of an asset are less than the carrying value, a write-down would be recorded to reduce the related asset to its estimated fair value. When reviewing long-lived assets for impairment, the Company groups long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. After evaluating and weighing all relevant events and circumstances, the Company concluded that it was not necessary to perform an interim impairment test for the long-lived assets as of and for the period ended September 30, 2020.
Goodwill	Goodwill Pursuant to the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 350, Intangibles-Goodwill and Other The Company evaluates goodwill for impairment at least annually, or more frequently if triggering events occur or other impairment indicators arise which might impair recoverability. Impairment of goodwill is evaluated at the reporting unit level. A reporting unit is defined as an operating segment (i.e. before aggregation or combination), or one level below an operating segment (i.e. a component). A component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component. After evaluating and weighing all relevant events and circumstances, the Company concluded there was no triggering event that constitutes the need to perform a goodwill impairment test for the period ended September 30, 2020. It should be noted that at March 31, 2020, the Company’s share price reduction as a result of the ongoing COVID-19 pandemic during the first quarter of 2020, was determined to be a triggering event for impairment testing under ASC 350. The Company performed an interim quantitative impairment analysis and the fair value of reporting units was determined based on valuation techniques using the best available information, primarily cash flow projections. At that time, we determined no goodwill impairment existed for the period.
Offering Costs and Transaction Expenses	Offering Costs and Transaction Expenses The Company incurred costs directly attributable to its initial public offering, such as underwriter, registration and filing fees along with direct incremental legal, accounting, and professional fees relating to the Business Combination. The Company evaluated all the fees and approximately $2.6 million of expenses were recorded as an offset against proceeds of the reverse recapitalization. As of December 31, 2019, there were $0.7 million deferred as prepaid expenses and other current assets in our accompanying Consolidated Balance Sheets. These were deferred until completion of the reverse recapitalization, at which time $0.4 million were reclassified to additional paid-in capital as a reduction of the proceeds. Recurring and other incremental organizational costs including accounting and legal fees that were not directly attributable to the offering were expensed as incurred.
Income Taxes	Income Taxes The Company is a newly formed corporation for the income tax purposes. Alta Enterprises, LLC was historically and remains a partnership for federal income tax purposes, with each partner being separately taxed on its share of taxable income (loss). There is no federal income tax expense (benefit) reflected in the Company’s financial statements for any period prior to the reverse recapitalization on February 14, 2020. As the activity resides in Alta Enterprises, LLC, the income tax impact to the Company represents the current income tax calculated at the Consolidated Return level, (“Alta Equipment Group, Inc and Subsidiaries”), and the deferred impact of the interest in the lower tier partnership. When looking at the Consolidated Return filer, and considering the operating entity is a 100% owned partnership,
Equity and Warrants	Equity In conjunction with the reverse recapitalization, the Company made changes to its capital stock. The Company’s Amended and Restated Certificate of Incorporation authorizes the issuance of 201,000,000 shares of capital stock, consisting of (i) 200,000,000 shares of common stock, (the “Common Stock”) and (ii) 1,000,000 shares of preferred stock, par value $0.0001 per share. As of September 30, 2020, no shares of preferred stock authorized have been issued. As a result of the reverse recapitalization, the shares issued to Alta Equipment Holdings, Inc. shareholders in connection with the transaction are reflected as if they were issued and outstanding beginning on January 1, 2019. As of September 30, 2020, there were warrants outstanding to acquire 8,668,750 shares of the Company’s Common Stock. These warrants were issued in connection with the equity infusion related to reverse recapitalization. The Warrants entitle the registered holder to purchase one share of our Class A Common Stock at a price of $11.50 per share, subject to certain adjustments. The warrants will expire five years after the completion of our initial reverse recapitalization or earlier upon redemption or liquidation.
Share Based Compensation	Share Based Compensation The Board of Directors approved the Company’s 2020 Omnibus Incentive Plan, which enables the Company to grant stock options, stock appreciation rights, restricted stock, restricted stock units, unrestricted stock, other share based awards and cash awards to directors, employees and consultants to improve the ability of the Company to attract, retain, and motivate individuals upon whom the Company’s sustained growth and financial success depend, by providing such persons with an opportunity to acquire or increase their proprietary interest in the Company. We measure the employee stock-based awards at grant-date fair value using provisions of ASC 718 – Stock Compensation and record compensation expense over the vesting period of the award. The Company made an accounting election upon adoption of Accounting Standard Update (“ASU”) 2016-09 and will recognize forfeitures when they occur . The Company treated equity awards granted to non-employee directors similarly to the equity awards to employees upon adoption of ASU 2018-07.
New Accounting Pronouncements	New Accounting Pronouncements Recent Accounting Pronouncements Adopted in 2020 Fair Value Measurement — Disclosure Framework (Topic 820) In August 2018, the FASB issued ASU No. 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement.” This ASU eliminates, modifies, and adds certain disclosure requirements on fair value measurements. Entities are no longer required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but public companies are required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. For public companies, this ASU is effective for financial statements issued for annual periods beginning after December 15, 2019, and interim periods within those annual periods, with early adoption permitted. Entities were permitted to early adopt any eliminated or amended disclosures and delay adoption of the additional disclosure requirements until the effective date. We adopted this ASU on the effective date of January 1, 2020. The adoption of this accounting standard update has not had a material impact on our consolidated financial statements and disclosures. Pronouncements Not Yet Adopted Leases (Topic 842) In February 2016, the FASB issued ASU No. 2016-02, Leases The Company is still assessing the impact Topic 842 will have on its future revenue and expenses. The new accounting standard is effective for the annual reporting period ended December 31, 2022 with an effective date of January 1, 2022, and the interim reporting periods beginning January 1, 2023. Early adoption is permitted. Management is currently assessing the impact the adoption of this standard will have on the Company’s consolidated financial statements as well as the available transition methods. Financial Instruments — Credit Losses (Topic 326) In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Measurement of expected credit losses is to be based on relevant forecasts that affect collectability. The scope of financial assets within the CECL methodology is broad and includes trade receivables from certain revenue transactions and certain off-balance sheet credit exposures. Different components of the guidance require modified retrospective or prospective adoption. As amended by ASU 2019-10, the ASU 2016-13 is effective for the annual reporting period beginning on or after December 15, 2022. The Company believes ASU 2016-13 will only have applicability to the Company’s receivables from revenue transactions, or trade receivables, except those arising from rental revenues as ASU 2016-13 does not apply to receivables arising from operating leases. The Company is currently evaluating whether the new guidance, while limited to our non-operating lease trade receivables, will have an impact on the consolidated financial statements or existing internal controls.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Summary of Disaggregated Revenues	The following table summarizes the Company’s disaggregated revenues as presented in the Consolidated Statement of Operations for the three months and nine months ended September 30, 2020 and 2019 by revenue type, and by the applicable accounting standard. Three months ended September 30, 2020 Three months ended September 30, 2019 Topic 840 Topic 606 Total Topic 840 Topic 606 Total Revenues: New and used equipment sales $ — $ 97.9 $ 97.9 $ — $ 61.1 $ 61.1 Parts sales — 35.5 35.5 — 22.9 22.9 Service revenue — 35.5 35.5 — 27.3 27.3 Rental revenue 32.2 — 32.2 27.8 — 27.8 Rental equipment sales — 19.5 19.5 — 10.7 10.7 Net revenue $ 32.2 $ 188.4 $ 220.6 $ 27.8 $ 122.0 $ 149.8 Nine months ended September 30, 2020 Nine months ended September 30, 2019 Topic 840 Topic 606 Total Topic 840 Topic 606 Total Revenues: New and used equipment sales $ — $ 275.2 $ 275.2 $ — $ 167.1 $ 167.1 Parts sales — 92.3 92.3 — 60.0 60.0 Service revenue — 94.1 94.1 — 67.2 67.2 Rental revenue 83.4 — 83.4 66.9 — 66.9 Rental equipment sales — 48.2 48.2 — 26.8 26.8 Net revenue $ 83.4 $ 509.8 $ 593.2 $ 66.9 $ 321.1 $ 388.0

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Summary of Components of Inventories, Net	The components of inventories, net, consisted of the following (amounts in millions): September 30, December 31, 2020 2019 New equipment $ 153.3 $ 92.8 Used equipment 29.6 18.2 Work in process 4.2 3.3 Parts 37.1 24.8 Gross Inventory $ 224.2 $ 139.1 Inventory reserve (3.1 ) (1.9 ) $ 221.1 $ 137.2

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2020
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net, consisted of the following (amounts in millions): September 30, December 31, 2020 2019 Rental fleet $ 396.8 $ 285.1 Equipment and leasehold improvements: Machinery and equipment 5.1 3.4 Autos and trucks 6.1 4.6 Leasehold improvements 8.6 7.0 Office equipment 3.0 2.3 Computer equipment 9.2 6.2 Total Cost $ 428.8 $ 308.6 Less: accumulated depreciation and amortization Rental fleet (120.3 ) (100.0 ) Equipment and leasehold improvements and computer equipment (14.8 ) (12.1 ) Total accumulated depreciation and amortization (135.1 ) (112.1 ) $ 293.7 $ 196.5

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of 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 as of September 30, 2020 and December 31, 2019 (amounts in millions): Industrial Equipment Construction Equipment Total Balance, December 31, 2019 $ 4.8 $ 3.8 $ 8.6 Additions 6.0 8.2 14.2 Balance, September 30, 2020 $ 10.8 $ 12.0 $ 22.8

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Gross Carrying Amount of Intangible Assets and Accumulated Amortization	The gross carrying amount of intangible assets and accumulated amortization as of September 30, 2020 and December 31, 2019 were as follows (amounts in millions): September 30, 2020 December 31, 2019 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Customer relationships $ 24.5 $ (2.4 ) $ 22.1 $ 5.4 $ (2.8 ) $ 2.6 Non-compete agreements 0.7 (0.1 ) 0.6 0.4 (0.3 ) 0.1 Tradenames 1.7 (0.2 ) 1.5 0.7 (0.4 ) 0.3 Total $ 26.9 $ (2.7 ) $ 24.2 $ 6.5 $ (3.5 ) $ 3.0

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt	The Company’s long-term debt consists of the following (amounts in millions): September 30, December 31, 2020 2019 Term Loan $ 151.1 $ — Senior lien holder — 71.2 OEM captive lender — 14.8 Subordinated debt — 6.7 First lien lender – term loan — 4.3 Subtotal $ 151.1 $ 97.0 Unamortized debt issuance costs (2.0 ) (2.5 ) Debt discount (4.9 ) (0.9 ) Total debt $ 144.2 $ 93.6 Less: Current maturities of long-term debt, net (7.8 ) (7.1 ) Long-term debt, net $ 136.4 $ 86.5

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of Income Tax Benefit	The income tax benefit for the three and nine months ended September 30, 2020 and 2019 consisted of the following: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Federal taxes-current $ — $ — $ — $ — Federal taxes-deferred 1.4 — 2.6 — State taxes-current — — — — State taxes-deferred 0.5 — 0.8 — $ 1.9 $ — $ 3.4 $ —

Share Based Compensation (Table

Share Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Share Based Compensation Restricted Stock Awards	The following table shows the number of restricted stock awards that were granted and vested during 2020: Restricted Stock Awards Number of units Weighted average grant date fair value Granted 690,000 $ 7.60 Vested (390,000 ) $ 7.60 Forfeited — $ — As of September 30, 2020 300,000 $ 7.60

Fair Value Instruments (Tables)

Fair Value Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Summary of Provisional Fair Value of Contingent Liability for Earn-out Considerations at Net Present Value by Level of Hierarchy	The following table sets forth, by level of hierarchy, the provisional fair value of contingent liability for the earn-out considerations at net present value as of September 30, 2020, which was presented in “Other liabilities” on the Consolidated Balance Sheet: September 30, 2020 Level 1 Level 2 Level 3 Liabilities: Contingent consideration $ — $ — $ 1.8

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Sep. 30, 2020
Business Acquisition [Line Items]
Summary of Net Assets Acquired from Acquisition	The following table summarizes the net assets acquired from the acquisitions in 2020 (amounts in millions): Flagler Liftech Peak Hilo Martin Total Cash $ 0.4 $ — $ 3.0 $ 2.1 $ — $ 5.5 Accounts receivable 15.1 4.4 4.6 5.5 1.0 30.6 Inventory 37.5 9.6 0.4 4.7 13.2 65.4 Prepaid and other assets 0.5 1.0 0.2 0.2 — 1.9 Property, plant, and equipment 50.7 5.9 0.2 9.2 0.1 66.1 Intangible assets 14.0 0.7 4.6 3.1 — 22.4 Goodwill 6.0 2.0 1.9 2.1 2.2 14.2 Total Assets $ 124.2 $ 23.6 $ 14.9 $ 26.9 $ 16.5 $ 206.1 Floor plan payable (29.0 ) (3.5 ) — (4.4 ) — (36.9 ) Accounts payable (14.0 ) (1.6 ) (1.5 ) (2.8 ) (0.2 ) (20.1 ) Accrued expenses (4.1 ) — (0.1 ) (0.3 ) (0.1 ) (4.6 ) Other current liabilities — (0.1 ) (3.9 ) (0.4 ) — (4.4 ) Other liabilities (1.3 ) — — — — (1.3 ) Total Liabilities $ (48.4 ) $ (5.2 ) $ (5.5 ) $ (7.9 ) $ (0.3 ) $ (67.3 ) Net Assets Acquired $ 75.8 $ 18.4 $ 9.4 $ 19.0 $ 16.2 $ 138.8 Assets acquired net of cash $ 75.4 $ 18.4 $ 6.4 $ 16.9 $ 16.2 $ 133.3
Peak Logix LLC
Business Acquisition [Line Items]
Summary of Purchase Price Allocation	The following table summarizes the components of the purchase price at June 12, 2020: Cash consideration paid * $ 5.7 Promissory Note 1.0 Present value of non-contingent earn-out liability 1.7 Earn-out liability 1.0 Total purchase price $ 9.4 * Includes $3.0 million cash acquired as part of the Business Combination
Hilo Equipment & Services
Business Acquisition [Line Items]
Summary of Purchase Price Allocation	The following table summarizes the component of the purchase price at July 1, 2020: Cash consideration paid * $ 18.2 Earn-out liability 0.8 Total purchase price $ 19.0 * Includes $2.1 million cash acquired as part of the Business Combination
Northland Industrial Truck Co., Inc
Business Acquisition [Line Items]
Summary of Net Assets Acquired from Acquisition	Northland Industrial Truck Co., Inc. (“NITCO”) The following table summarizes the net assets acquired from the acquisition in 2019 (amounts in millions): NITCO Accounts receivable $ 13.9 Other current & non-current assets 0.5 Inventory 35.7 Guaranteed purchase obligation asset 9.7 Property, plant, and equipment 18.8 Identifiable intangible assets 3.3 Goodwill 1.0 Total Assets $ 82.9 Accounts payable (5.2 ) Guaranteed purchase obligation liability (9.7 ) Capital lease obligations (1.3 ) Other liabilities (1.1 ) Total Liabilities $ (17.3 ) Net Assets Acquired $ 65.6
Summary of Pro Forma Information	The Company, for this presentation, prorated NITCO pro forma financial information presented in our Registration Statement on Form S-1, filed with the SEC on March 25, 2020. 9 Months ended September 30, 2019 3 Months ended September 30, 2019 1/1-9/30 1/1-4/30 1/1-9/30 6/30-9/30 6/30-9/30 The Company NITCO Flagler Total The Company Flagler Total Total revenues $ 388.0 $ 45.2 $ 139.8 $ 573.0 $ 149.8 $ 48.4 $ 198.2 Net (loss) income $ (29.6 ) $ 1.0 $ 0.8 $ (27.8 ) $ (27.4 ) $ 2.2 $ (25.2 )
FlaglerCE Holdings LLC
Business Acquisition [Line Items]
Summary of Pro Forma Information	9 Months ended September 30, 2020 1/1-9/30 1/1-2/14 The Company Flagler Total Total revenues $ 593.2 $ 25.8 $ 619.0 Net loss $ (20.8 ) $ (0.1 ) $ (20.9 )

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Schedule of Results of Operations by Reportable Segment	The following table presents the Company’s results of operations by reportable segment for the nine months ended September 30, 2020 (amounts in millions): Industrial Equipment Construction Equipment Corporate Total New and used equipment sales $ 152.7 $ 122.5 $ — $ 275.2 Parts sales 43.7 48.6 — 92.3 Service revenue 61.8 32.3 — 94.1 Rental revenue 34.2 49.2 — 83.4 Rental equipment sales 12.3 35.9 — 48.2 Total revenue $ 304.7 $ 288.5 $ — $ 593.2 Interest expense 4.3 7.8 5.6 17.7 Depreciation and amortization 17.0 34.6 — 51.6 Net income (loss) $ 7.9 $ (14.8 ) $ (13.9 ) $ (20.8 ) The following table presents the Company’s results of operations by reportable segment for the three months ended September 30, 2020 (amounts in millions): Industrial Equipment Construction Equipment Corporate Total New and used equipment sales $ 58.7 $ 39.2 $ — $ 97.9 Parts sales 16.7 18.8 — 35.5 Service revenue 23.4 12.1 — 35.5 Rental revenue 12.2 20.0 — 32.2 Rental equipment sales 4.0 15.5 — 19.5 Total revenue $ 115.0 $ 105.6 $ — $ 220.6 Interest expense 1.4 2.7 2.0 6.1 Depreciation and amortization 6.4 14.6 — 21.0 Net income (loss) $ 2.8 $ (8.6 ) 6.1 $ 0.3 The following table presents the Company’s results of operations by reportable segment for the nine months ended September 30, 2019 (amounts in millions): Industrial Equipment Construction Equipment Corporate Total New and used equipment sales $ 98.3 $ 68.8 $ — $ 167.1 Parts sales 35.7 24.3 — 60.0 Service revenue 48.4 18.8 — 67.2 Rental revenue 26.9 40.0 — 66.9 Rental equipment sales 2.5 24.3 — 26.8 Total revenue $ 211.8 $ 176.2 $ — $ 388.0 Interest expense 3.3 6.0 5.8 15.1 Depreciation and amortization 11.6 23.1 — 34.7 Net income (loss) $ 8.0 $ (2.3 ) $ (35.3 ) $ (29.6 ) The following table presents the Company’s results of operations by reportable segment for the three months ended September 30, 2019 (amounts in millions): Industrial Equipment Construction Equipment Corporate Total New and used equipment sales $ 41.5 $ 19.6 $ — $ 61.1 Parts sales 14.3 8.6 — 22.9 Service revenue 20.2 7.1 — 27.3 Rental revenue 12.0 15.8 — 27.8 Rental equipment sales 0.7 10.0 — 10.7 Total revenue $ 88.7 $ 61.1 $ — $ 149.8 Interest expense 1.3 2.1 2.2 5.6 Depreciation and amortization 4.9 9.3 — 14.2 Net income (loss) $ 4.9 $ (1.4 ) (30.9 ) $ (27.4 )
Summary of Identified Assets by Reportable Segment	The following table presents the Company’s identified assets by reportable segment for the period ending September 30, 2020 and December 31, 2019 (amounts in millions): September 30, 2020 December 31, 2019 Segment assets: Industrial equipment $ 257.9 $ 207.5 Construction equipment 441.1 246.0 Corporate 0.8 0.7 Total assets $ 699.8 $ 454.2

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended
	Mar. 31, 2020	Sep. 30, 2020	Feb. 14, 2020	Dec. 31, 2019	Dec. 27, 2017
Summary Of Significant Accounting Policies [Line Items]
Goodwill impairment	$ 0	$ 0
Offering costs offset from proceeds of reverse capitalization		2,600,000
Deferred as prepaid expenses and other current assets		7,600,000		$ 700,000
Offering costs reclassified as additional paid-in-capital		400,000
Federal tax expense (benefit)		$ 0
Partnership owned percentage in operating entity		100.00%
Preferred stock, shares authorized		1,000,000
Preferred stock, par value		$ 0.0001
Preferred stock, shares issued		0
Class of Warrant or Right, Outstanding		8,668,750			33,333.33
Warrants expire term		5 years
Warrants
Summary Of Significant Accounting Policies [Line Items]
Share Price		$ 11.50
Accounting Standards Update Topic840
Summary Of Significant Accounting Policies [Line Items]
Each warrant exercisable for common stock		1
Alta Equipment Holdings, Inc. | Reverse Recapitalization
Summary Of Significant Accounting Policies [Line Items]
Capital stock, shares authorized			201,000,000
Common stock, shares authorized			200,000,000
Preferred stock, shares authorized			1,000,000
Preferred stock, par value			$ 0.0001
Preferred stock, shares issued		0

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Disaggregation Of Revenue [Line Items]
Lease liability	$ 4.1		$ 4.1		$ 5.5
Liability for its guarantee to repurchase the equipment at residual amount	10.6		10.6		12.5
Net revenue	220.6	$ 149.8	593.2	$ 388
Revenue recognized from guaranteed maintenance contracts			12	$ 12.1
Service Sales Agreements, Rental Agreements and Automated Equipment Installation and System Integration Services
Disaggregation Of Revenue [Line Items]
Deferred revenue	$ 9.8		9.8		$ 4.7
Automated Equipment Installation and System Integration Services
Disaggregation Of Revenue [Line Items]
Net revenue			$ 7.1

Revenue Recognition - Summary o

Revenue Recognition - Summary of Disaggregated Revenues (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Net revenue	$ 220.6	$ 149.8	$ 593.2	$ 388
Accounting Standards Update Topic840
Revenues:
Net revenue	32.2	27.8	83.4	66.9
Topic 606
Revenues:
Net revenue	188.4	122	509.8	321.1
New and Used Equipment Sales
Revenues:
Net revenue	97.9	61.1	275.2	167.1
New and Used Equipment Sales | Topic 606
Revenues:
Net revenue	97.9	61.1	275.2	167.1
Parts Sales
Revenues:
Net revenue	35.5	22.9	92.3	60
Parts Sales | Topic 606
Revenues:
Net revenue	35.5	22.9	92.3	60
Service Revenue
Revenues:
Net revenue	35.5	27.3	94.1	67.2
Service Revenue | Topic 606
Revenues:
Net revenue	35.5	27.3	94.1	67.2
Rental Revenue
Revenues:
Net revenue	32.2	27.8	83.4	66.9
Rental Revenue | Accounting Standards Update Topic840
Revenues:
Net revenue	32.2	27.8	83.4	66.9
Rental Equipment Sales
Revenues:
Net revenue	19.5	10.7	48.2	26.8
Rental Equipment Sales | Topic 606
Revenues:
Net revenue	$ 19.5	$ 10.7	$ 48.2	$ 26.8

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Related Party Lease Agreements
Related Party Transaction [Line Items]
Operating lease, Rent expense	$ 1.2	$ 1.2	$ 3.6	$ 3.6

Inventories - Summary of Compon

Inventories - Summary of Components of Inventories, Net (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
New equipment	$ 153.3	$ 92.8
Used equipment	29.6	18.2
Work in process	4.2	3.3
Parts	37.1	24.8
Inventory, Gross	224.2	139.1
Inventory reserve	(3.1)	(1.9)
Inventory, Net	$ 221.1	$ 137.2

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Inventory Disclosure [Abstract]
Capitalized direct labor expense included in work in process	$ 1.4		$ 1.4		$ 1.2
Rental depreciation expense	$ 0.9	$ 0.2	$ 2.4	$ 1.5

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Property Plant and Equipment [Line Items]
Total Cost	$ 428.8	$ 308.6
Total accumulated depreciation and amortization	(135.1)	(112.1)
Property and equipment, net	293.7	196.5
Rental Fleet
Property Plant and Equipment [Line Items]
Total Cost	396.8	285.1
Total accumulated depreciation and amortization	(120.3)	(100)
Machinery and Equipment
Property Plant and Equipment [Line Items]
Total Cost	5.1	3.4
Autos and Trucks
Property Plant and Equipment [Line Items]
Total Cost	6.1	4.6
Leasehold Improvements
Property Plant and Equipment [Line Items]
Total Cost	8.6	7
Office Equipment
Property Plant and Equipment [Line Items]
Total Cost	3	2.3
Computer Equipment
Property Plant and Equipment [Line Items]
Total Cost	9.2	6.2
Equipment and Leasehold Improvements and Computer Equipment
Property Plant and Equipment [Line Items]
Total accumulated depreciation and amortization	$ (14.8)	$ (12.1)

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Property Plant and Equipment [Line Items]
Depreciation and amortization on property and equipment	$ 21	$ 14.2	$ 51.6	$ 34.7
Capital leases assets, gross carrying values	3.9		3.9		$ 3.5
Capital leases assets, accumulated amortization balances	2.1		2.1		1.3
GPO Assets	15.4		15.4		18.4
Property and Equipment
Property Plant and Equipment [Line Items]
Depreciation and amortization on property and equipment	19.4	$ 14	47.8	$ 33.2
Rental Fleet
Property Plant and Equipment [Line Items]
Capital leases assets, accumulated amortization balances	$ 396.8		$ 396.8		$ 285.1

Goodwill - Schedule of Carrying

Goodwill - Schedule of Carrying Amount of Goodwill in Total and by Reportable Segment (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Goodwill [Line Items]
Beginning balance	$ 8.6
Additions	14.2
Ending balance	22.8
Industrial Equipment
Goodwill [Line Items]
Beginning balance	4.8
Additions	6
Ending balance	10.8
Construction Equipment
Goodwill [Line Items]
Beginning balance	3.8
Additions	8.2
Ending balance	$ 12

Intangible Assets - Schedule of

Intangible Assets - Schedule of Gross Carrying Amount of Intangible Assets and Accumulated Amortization (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 26.9	$ 6.5
Accumulated amortization	(2.7)	(3.5)
Net carrying amount	24.2	3
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	24.5	5.4
Accumulated amortization	(2.4)	(2.8)
Net carrying amount	22.1	2.6
Non-compete Agreements
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	0.7	0.4
Accumulated amortization	(0.1)	(0.3)
Net carrying amount	0.6	0.1
Tradenames
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	1.7	0.7
Accumulated amortization	(0.2)	(0.4)
Net carrying amount	$ 1.5	$ 0.3

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 0.7	$ 0.1	$ 1.4	$ 0.2

Lines of Credit and Floor Pla_2

Lines of Credit and Floor Plans - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Feb. 14, 2020
Line Of Credit Facility [Line Items]
Recognized interest expense	$ 6,100,000	$ 5,600,000	$ 17,700,000	$ 15,100,000
Amended and Restated Credit Agreement | JP Morgan Chase Bank | Floor Plans
Line Of Credit Facility [Line Items]
Floor plan financing facility	155,000,000		155,000,000		$ 85,000,000
Amended and Restated Credit Agreement | JP Morgan Chase Bank | Aggregate Indebtedness
Line Of Credit Facility [Line Items]
Floor plan financing facility	225,000,000		225,000,000		220,000,000
Maximum borrowing capacity	225,000,000		225,000,000
Recognized interest expense	500,000		1,800,000
Amended and Restated Credit Agreement | JP Morgan Chase Bank | Revolving Line of Credit
Line Of Credit Facility [Line Items]
Floor plan financing facility	300,000,000		300,000,000		110,000,000
First Lien Lender | Floor Plans
Line Of Credit Facility [Line Items]
Floor plan financing facility	40,000,000		40,000,000		$ 85,000,000
First Lien Lender | JP Morgan Chase Bank | Floor Plans
Line Of Credit Facility [Line Items]
Floor plan financing facility	30,700,000		30,700,000
Maximum borrowing capacity	$ 40,000,000		$ 40,000,000
Effective interest rate	2.90%		2.90%
First Lien Lender | JP Morgan Chase Bank | ABL Facility
Line Of Credit Facility [Line Items]
Floor plan financing facility	$ 140,500,000		$ 140,500,000
Maximum borrowing capacity	$ 300,000,000		$ 300,000,000
Effective interest rate	2.10%		2.10%
First Lien Lender | JP Morgan Chase Bank | Floor Plans and ABL Facility
Line Of Credit Facility [Line Items]
Floor plan financing facility	$ 295,500,000		$ 295,500,000
Maximum borrowing capacity	525,000,000		525,000,000
Debt issuance costs	1,600,000		$ 1,600,000
Original Equipment Manufacturer ("OEM") Captive Lenders and Suppliers | JP Morgan Chase Bank | Minimum
Line Of Credit Facility [Line Items]
Interest only or deferred payment period			5 months
Original Equipment Manufacturer ("OEM") Captive Lenders and Suppliers | JP Morgan Chase Bank | Maximum
Line Of Credit Facility [Line Items]
Interest only or deferred payment period			12 months
Original Equipment Manufacturer ("OEM") Captive Lenders and Suppliers | JP Morgan Chase Bank | Floor Plans
Line Of Credit Facility [Line Items]
Floor plan financing facility	124,300,000		$ 124,300,000
Original Equipment Manufacturer ("OEM") Captive Lenders and Suppliers | JP Morgan Chase Bank | Floor Plans | Minimum
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	$ 10,000,000		$ 10,000,000
Effective interest rate	3.00%		3.00%
Original Equipment Manufacturer ("OEM") Captive Lenders and Suppliers | JP Morgan Chase Bank | Floor Plans | Maximum
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	$ 82,000,000		$ 82,000,000
Effective interest rate	4.20%		4.20%

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Details) - USD ($)	Jun. 12, 2020	May 01, 2019	Dec. 27, 2017	May 09, 2014	Jul. 31, 2018	Apr. 30, 2018	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt instrument, description							In connection with the reverse recapitalization, the Company entered into a new Note Purchase Agreement (the “Term Loan”) dated as of February 3, 2020, for the purposes of, among other things, (i) financing the reverse recapitalization, (ii) financing the acquisitions of Flagler and Liftech; and (iii) providing for the repayment and refinance of a portion of the Company’s prior existing debt.
Warrants exercise price			$ 0.01
Subordinated debt							$ 0
Loss on the extinguishment of debt							$ 7,600,000
Peak Logix LLC
Debt Instrument [Line Items]
Earn-out payment period	5 years
Present value of non-contingent earn-out liability	$ 1,700,000
Commercial Paper | Peak Logix LLC
Debt Instrument [Line Items]
Debt instrument, interest rate	6.00%
Unsecured promissory note	$ 1,000,000
Subordinated Debt
Debt Instrument [Line Items]
Debt Instrument, Payment Terms							On February 14, 2020, in connection with the reverse recapitalization, and in conjunction with entering into the Amended and Restated Credit Agreement and Term Loan, the Company repaid in full the subordinated debt to the former shareholders of Alta Equipment Company and terminated all commitments and discharged all guarantees related to those agreements
Term Loan
Debt Instrument [Line Items]
Floor plan financing facility							$ 151,100,000
Debt issuance costs							6,900,000
Senior Lien Notes and OEM Captive Lender
Debt Instrument [Line Items]
Early call premiums paid to holders							3,900,000
Notes Payable | Peak Logix LLC | Non-Contingent Consideration
Debt Instrument [Line Items]
Earn-out payment period	5 years
Notes Payable | Peak Logix LLC | Non-Contingent Consideration | Other Liabilities
Debt Instrument [Line Items]
Present value of non-contingent earn-out liability							1,700,000
Notes Payable | Minimum | Peak Logix LLC | Non-Contingent Consideration
Debt Instrument [Line Items]
Additional earn-out payment	$ 2,000,000
Senior Lien Holder | Note Purchase Agreement
Debt Instrument [Line Items]
Note payable								$ 40,000,000
Additional delayed note payable			$ 20,000,000					20,000,000
Borrowed against delayed draw commitment		$ 11,500,000			$ 5,000,000	$ 3,500,000
Percentage of payment-in-kind interest on unpaid principal amount			10.00%
Paid-in-kind interest								$ 11,200,000
Debt instrument, maturity date			Jun. 27, 2023
Warrants issued to purchase percentage of common units outstanding			25.00%
Warrants exercise price			$ 0.01
First Lien and Second Lien Lender | Subordinated Debt
Debt Instrument [Line Items]
Debt instrument, maturity date			Dec. 31, 2027
Debt instrument, interest rate			5.00%
Second Lien Lender | Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount			$ 155,000,000
Debt instrument, maturity period			2025-08
Payable in monthly installments							$ 1,900,000
Effective interest rate							9.80%
Second Lien Lender | Term Loan | LIBOR
Debt Instrument [Line Items]
Debt Instrument, variable rate							8.00%
OEM Captive Lender
Debt Instrument [Line Items]
Note payable							$ 0
OEM Captive Lender | Master Note Agreement
Debt Instrument [Line Items]
Debt instrument, maturity period				2024-10
OEM Captive Lender | Master Note Agreement | Minimum
Debt Instrument [Line Items]
Debt instrument, interest rate				3.29%
OEM Captive Lender | Master Note Agreement | Maximum
Debt Instrument [Line Items]
Debt instrument, interest rate				4.99%

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Subtotal	$ 151.1	$ 97
Unamortized debt issuance costs	(2)	(2.5)
Debt discount	(4.9)	(0.9)
Total debt	144.2	93.6
Less: Current maturities of long-term debt, net	(7.8)	(7.1)
Long-term debt, net of current portion	136.4	86.5
Senior Lien Holder
Debt Instrument [Line Items]
Subtotal		71.2
OEM Captive Lender
Debt Instrument [Line Items]
Subtotal		14.8
Subordinated Debt
Debt Instrument [Line Items]
Subtotal		6.7
First Lien Lender – Term Loan
Debt Instrument [Line Items]
Subtotal	$ 151.1	$ 4.3

Contingencies - Additional Info

Contingencies - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Commitments And Contingencies [Line Items]
Estimated exposure of guarantees	$ 2,600,000	$ 3,300,000
Guarantees accrued	$ 0	$ 0
Minimum
Commitments And Contingencies [Line Items]
Term of guarantees	3 years
Maximum
Commitments And Contingencies [Line Items]
Term of guarantees	5 years

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Benefit (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Federal taxes-current			$ 0
Federal taxes-deferred	$ 1,400,000		2,600,000
State taxes-deferred	500,000		800,000
Income tax benefit	$ 1,900,000	$ 0	$ 3,400,000	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		8 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Schedule Of Income Taxes [Line Items]
Income tax benefit (expense)	$ 1.9	$ 0		$ 3.4	$ 0
Pre-tax loss	(1.6)	$ (27.4)	$ (14.1)	(24.2)	$ (29.6)
Effective income tax rate			24.10%
Net deferred tax liabilities related to property and equipment assets and other temporary items	$ 15.6		$ 15.6	$ 15.6

Share Based Compensation - Addi

Share Based Compensation - Additional Information (Details) - USD ($) $ in Millions	Aug. 18, 2020	Sep. 30, 2020	Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense		$ 3.2	$ 3.2
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	$ 3
RSUs | Directors, Officers and Employees | 2020 Omnibus Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved for grant		690,000	690,000
RSUs | Robert T.Chiles | Construction Group | Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, vested	390,000
Number of shares converted	390,000
Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, vested			390,000
Unrecognized compensation expense		$ 2	$ 2
Unrecognized compensation expense, weighted average recognition period			3 years

Share Based Compensation - Summ

Share Based Compensation - Summary of Share Based Compensation Restricted Stock Awards (Details) - Restricted Stock Awards	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Number of units
Number of units, Granted | shares	690,000
Number of units, Vested | shares	(390,000)
Number of units, Ending balance | shares	300,000
Weighted average grant date fair value
Weighted average grant date fair value, Granted | $ / shares	$ 7.60
Weighted average grant date fair value, Vested | $ / shares	7.60
Weighted average grant date fair value, Ending balance | $ / shares	$ 7.60

Fair Value Instruments - Additi

Fair Value Instruments - Additional Information (Details) - USD ($)	Jul. 01, 2020	Jun. 12, 2020	Dec. 27, 2017	Sep. 30, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Granted warrants to purchase common stock			33,333.33	8,668,750
Warrants exercise price			$ 0.01
Purchase of outstanding warrants upon repayment of senior indebtedness percentage			75.00%
Warrants expiration date			Dec. 27, 2027
Warrant liability				$ 0	$ 29,600,000
Peak Logix LLC
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn-out payment		$ 1,700,000
Present value of non-contingent earn-out liability		$ 1,700,000
Earn-out payment period		5 years
Fair value of incremental earn-out payment		$ 1,700,000
Peak Logix LLC | Non-Contingent Consideration
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Non-contingent liability		2,000,000
Hilo Equipment & Services
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Additional earn-out payment	$ 1,000,000
Other Liabilities | Peak Logix LLC
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn-out payment		1,000,000
Minimum | Peak Logix LLC
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn-out payment		2,000,000
Maximum | Peak Logix LLC
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn-out payment		$ 3,700,000

Fair Value Instruments - Summar

Fair Value Instruments - Summary of Provisional Fair Value of Contingent Liability for Earn-out Considerations at Net Present Value by Level of Hierarchy (Details) $ in Millions	Sep. 30, 2020USD ($)
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities: Contingent consideration	$ 1.8

Business Combinations - Summary

Business Combinations - Summary of Net Assets Acquired from Acquisition (Details) - USD ($) $ in Millions	Sep. 01, 2020	Jul. 01, 2020	Jun. 12, 2020	Feb. 14, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	May 01, 2019
Business Acquisition [Line Items]
Goodwill					$ 22.8		$ 8.6
Assets acquired net of cash		$ 2.1	$ 3		128.8	$ 65.6
FlaglerCE Holdings LLC
Business Acquisition [Line Items]
Cash				$ 0.4
Accounts receivable				15.1
Inventory				37.5
Prepaid and other assets				0.5
Property, plant, and equipment				50.7
Intangible assets				14
Goodwill				6
Total Assets				124.2
Floor plan payable				(29)
Accounts payable				(14)
Accrued expenses				(4.1)
Other liabilities				(1.3)
Total Liabilities				(48.4)
Net Assets Acquired				75.8
Assets acquired net of cash				75.4
Liftech Equipment Companies, Inc.
Business Acquisition [Line Items]
Accounts receivable				4.4
Inventory				9.6
Prepaid and other assets				1
Property, plant, and equipment				5.9
Intangible assets				0.7
Goodwill				2
Total Assets				23.6
Floor plan payable				(3.5)
Accounts payable				(1.6)
Other current liabilities				(0.1)
Total Liabilities				(5.2)
Net Assets Acquired				18.4
Assets acquired net of cash				$ 18.4
Peak Logix LLC
Business Acquisition [Line Items]
Cash			3
Accounts receivable			4.6
Inventory			0.4
Prepaid and other assets			0.2
Property, plant, and equipment			0.2
Intangible assets			4.6
Goodwill			1.9
Total Assets			14.9
Accounts payable			(1.5)
Accrued expenses			(0.1)
Other current liabilities			(3.9)
Total Liabilities			(5.5)
Net Assets Acquired			9.4
Assets acquired net of cash			$ 6.4
Hilo Equipment & Services
Business Acquisition [Line Items]
Cash		2.1
Accounts receivable		5.5
Inventory		4.7
Prepaid and other assets		0.2
Property, plant, and equipment		9.2
Intangible assets		3.1
Goodwill		2.1
Total Assets		26.9
Floor plan payable		(4.4)
Accounts payable		(2.8)
Accrued expenses		(0.3)
Other current liabilities		(0.4)
Total Liabilities		(7.9)
Net Assets Acquired		19
Assets acquired net of cash		$ 16.9
Martin Implement Sales, Inc.
Business Acquisition [Line Items]
Accounts receivable	$ 1
Inventory	13.2
Property, plant, and equipment	0.1
Goodwill	2.2
Total Assets	16.5
Accounts payable	(0.2)
Accrued expenses	(0.1)
Total Liabilities	(0.3)
Net Assets Acquired	16.2
Assets acquired net of cash	$ 16.2
Flagler, Liftech, Peak, Hilo and Martin
Business Acquisition [Line Items]
Cash					5.5
Accounts receivable					30.6
Inventory					65.4
Prepaid and other assets					1.9
Property, plant, and equipment					66.1
Intangible assets					22.4
Goodwill					14.2
Total Assets					206.1
Floor plan payable					(36.9)
Accounts payable					(20.1)
Accrued expenses					(4.6)
Other current liabilities					(4.4)
Other liabilities					(1.3)
Total Liabilities					(67.3)
Net Assets Acquired					138.8
Assets acquired net of cash					$ 133.3
Northland Industrial Truck Co., Inc
Business Acquisition [Line Items]
Accounts receivable								$ 13.9
Other current & non-current assets								0.5
Inventory								35.7
Guaranteed purchase obligation asset								9.7
Property, plant, and equipment								18.8
Identifiable intangible assets								3.3
Goodwill								1
Total Assets								82.9
Accounts payable								(5.2)
Guaranteed purchase obligation liability								(9.7)
Capital lease obligations								(1.3)
Other liabilities								(1.1)
Total Liabilities								(17.3)
Net Assets Acquired								$ 65.6

Business Combinations - Additio

Business Combinations - Additional Information (Details) - USD ($)		Sep. 01, 2020	Jul. 01, 2020	Jun. 12, 2020	Feb. 14, 2020	May 01, 2019	Sep. 30, 2020	Sep. 30, 2019
Business Acquisition [Line Items]
Enterprise value, net of cash acquired			$ 2,100,000	$ 3,000,000			$ 128,800,000	$ 65,600,000
FlaglerCE Holdings LLC
Business Acquisition [Line Items]
Total consideration paid					$ 75,800,000
Percentage of goodwill expected to be deductible for income tax purposes					100.00%
Enterprise value, net of cash acquired					$ 75,400,000
FlaglerCE Holdings LLC | New Equipment
Business Acquisition [Line Items]
Additional floorplan borrowings					1,200,000
Enterprise value, net of cash acquired					74,200,000
Liftech Equipment Companies, Inc.
Business Acquisition [Line Items]
Total consideration paid					$ 18,400,000
Percentage of goodwill expected to be deductible for income tax purposes					100.00%
Enterprise value, net of cash acquired					$ 18,400,000
Liftech Equipment Companies, Inc. | New Equipment
Business Acquisition [Line Items]
Total consideration paid					15,900,000
Additional floorplan borrowings					$ 2,500,000
Peak Logix LLC
Business Acquisition [Line Items]
Total consideration paid				$ 9,400,000
Percentage of goodwill expected to be deductible for income tax purposes				100.00%
Enterprise value, net of cash acquired				$ 6,400,000
Cash Consideration paid	[1]			5,700,000
Additional consideration				1,000,000
Earn-out payment				$ 1,700,000
Earn-out payment period				5 years
Peak Logix LLC | Minimum
Business Acquisition [Line Items]
Earn-out payment				$ 2,000,000
Peak Logix LLC | Maximum
Business Acquisition [Line Items]
Earn-out payment				3,700,000
Peak Logix LLC | Commercial Paper
Business Acquisition [Line Items]
Additional consideration				$ 1,000,000
Debt instrument, interest rate				6.00%
Hilo Equipment & Services
Business Acquisition [Line Items]
Total consideration paid			$ 19,000,000
Percentage of goodwill expected to be deductible for income tax purposes			100.00%
Enterprise value, net of cash acquired			$ 16,900,000
Cash Consideration paid	[2]		18,200,000
Additional earn-out payment			1,000,000
Hilo Equipment & Services | New Equipment
Business Acquisition [Line Items]
Enterprise value, net of cash acquired			$ 16,900,000
Martin Implement Sales, Inc.
Business Acquisition [Line Items]
Total consideration paid		$ 16,200,000
Percentage of goodwill expected to be deductible for income tax purposes		100.00%
Enterprise value, net of cash acquired		$ 16,200,000
Martin Implement Sales, Inc. | New Equipment
Business Acquisition [Line Items]
Total consideration paid		14,100,000
Additional floorplan borrowings		$ 2,100,000
Northland Industrial Truck Co., Inc
Business Acquisition [Line Items]
Total consideration paid						$ 65,600,000
Northland Industrial Truck Co., Inc | Industrial Equipment
Business Acquisition [Line Items]
Goodwill expected to be deductible for income tax purposes						1,000,000
Northland Industrial Truck Co., Inc | New Equipment
Business Acquisition [Line Items]
Total consideration paid						42,100,000
Additional floorplan borrowings						$ 23,500,000
[1]	Includes $3.0 million cash acquired as part of the Business Combination
[2]	Includes $2.1 million cash acquired as part of the Business Combination

Business Combinations - Summa_2

Business Combinations - Summary of Components of Purchase Price (Details) - USD ($) $ in Millions		Jul. 01, 2020	Jun. 12, 2020
Peak Logix LLC
Business Acquisition [Line Items]
Cash Consideration paid	[1]		$ 5.7
Promissory Note			1
Present value of non-contingent earn-out liability			1.7
Earn-out liability			1
Total purchase price			$ 9.4
Hilo Equipment & Services
Business Acquisition [Line Items]
Cash Consideration paid	[2]	$ 18.2
Earn-out liability		0.8
Total purchase price		$ 19
[1]	Includes $3.0 million cash acquired as part of the Business Combination
[2]	Includes $2.1 million cash acquired as part of the Business Combination

Business Combinations - Summa_3

Business Combinations - Summary of Components of Purchase Price (Details) (Parenthetical) - USD ($) $ in Millions	Jul. 01, 2020	Jun. 12, 2020	Sep. 30, 2020	Sep. 30, 2019
Business Combination Consideration Transferred [Abstract]
Business combination, Cash acquired	$ 2.1	$ 3	$ 128.8	$ 65.6

Business Combinations - Summa_4

Business Combinations - Summary of Pro Forma Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Business Acquisition Pro Forma Information Nonrecurring Adjustment [Line Items]
Total revenues	$ 220.6	$ 149.8	$ 593.2	$ 388
Net (loss) income	$ 0.3	(27.4)	(20.8)	(29.6)
FlaglerCE Holdings LLC
Business Acquisition Pro Forma Information Nonrecurring Adjustment [Line Items]
Total revenues		48.4	25.8	139.8
Net (loss) income		2.2	(0.1)	0.8
Northland Industrial Truck Co., Inc
Business Acquisition Pro Forma Information Nonrecurring Adjustment [Line Items]
Total revenues				45.2
Net (loss) income				1
Consolidate Entities And Flagler C E Holdings L L C
Business Acquisition Pro Forma Information Nonrecurring Adjustment [Line Items]
Total revenues		198.2	619
Net (loss) income		$ (25.2)	$ (20.9)
Consolidated Entities, NITCO and Flagler
Business Acquisition Pro Forma Information Nonrecurring Adjustment [Line Items]
Total revenues				573
Net (loss) income				$ (27.8)

Segments - Additional Informati

Segments - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)segment	Dec. 31, 2019USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	2
Loss on debt extinguishment	$ 7.6
Transaction costs	7.6	$ 0.7
Proceeds from life insurance policy	$ 8

Segments - Schedule of Results

Segments - Schedule of Results of Operations by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Total revenue	$ 220.6	$ 149.8	$ 593.2	$ 388
Interest expense	6.1	5.6	17.7	15.1
Depreciation and amortization	21	14.2	51.6	34.7
Net income (loss)	0.3	(27.4)	(20.8)	(29.6)
New and Used Equipment Sales
Segment Reporting Information [Line Items]
Total revenue	97.9	61.1	275.2	167.1
Parts Sales
Segment Reporting Information [Line Items]
Total revenue	35.5	22.9	92.3	60
Service Revenue
Segment Reporting Information [Line Items]
Total revenue	35.5	27.3	94.1	67.2
Rental Revenue
Segment Reporting Information [Line Items]
Total revenue	32.2	27.8	83.4	66.9
Rental Equipment Sales
Segment Reporting Information [Line Items]
Total revenue	19.5	10.7	48.2	26.8
Operating Segments | Industrial Equipment
Segment Reporting Information [Line Items]
Total revenue	115	88.7	304.7	211.8
Interest expense	1.4	1.3	4.3	3.3
Depreciation and amortization	6.4	4.9	17	11.6
Net income (loss)	2.8	4.9	7.9	8
Operating Segments | Construction Equipment
Segment Reporting Information [Line Items]
Total revenue	105.6	61.1	288.5	176.2
Interest expense	2.7	2.1	7.8	6
Depreciation and amortization	14.6	9.3	34.6	23.1
Net income (loss)	(8.6)	(1.4)	(14.8)	(2.3)
Operating Segments | New and Used Equipment Sales | Industrial Equipment
Segment Reporting Information [Line Items]
Total revenue	58.7	41.5	152.7	98.3
Operating Segments | New and Used Equipment Sales | Construction Equipment
Segment Reporting Information [Line Items]
Total revenue	39.2	19.6	122.5	68.8
Operating Segments | Parts Sales | Industrial Equipment
Segment Reporting Information [Line Items]
Total revenue	16.7	14.3	43.7	35.7
Operating Segments | Parts Sales | Construction Equipment
Segment Reporting Information [Line Items]
Total revenue	18.8	8.6	48.6	24.3
Operating Segments | Service Revenue | Industrial Equipment
Segment Reporting Information [Line Items]
Total revenue	23.4	20.2	61.8	48.4
Operating Segments | Service Revenue | Construction Equipment
Segment Reporting Information [Line Items]
Total revenue	12.1	7.1	32.3	18.8
Operating Segments | Rental Revenue | Industrial Equipment
Segment Reporting Information [Line Items]
Total revenue	12.2	12	34.2	26.9
Operating Segments | Rental Revenue | Construction Equipment
Segment Reporting Information [Line Items]
Total revenue	20	15.8	49.2	40
Operating Segments | Rental Equipment Sales | Industrial Equipment
Segment Reporting Information [Line Items]
Total revenue	4	0.7	12.3	2.5
Operating Segments | Rental Equipment Sales | Construction Equipment
Segment Reporting Information [Line Items]
Total revenue	15.5	10	35.9	24.3
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Interest expense	2	2.2	5.6	5.8
Net income (loss)	$ 6.1	$ (30.9)	$ (13.9)	$ (35.3)

Segments - Summary of Identifie

Segments - Summary of Identified Assets by Reportable Segment (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 699.8	$ 454.2
Operating Segments | Industrial Equipment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	257.9	207.5
Operating Segments | Construction Equipment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	441.1	246
Corporate, Non-Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 0.8	$ 0.7

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ in Millions	Oct. 30, 2020	Jul. 01, 2020	Jun. 12, 2020	Sep. 30, 2020	Sep. 30, 2019
Subsequent Event [Line Items]
Floorplan eligible new equipment inventories, purchased value		$ 2.1	$ 3	$ 128.8	$ 65.6
Howell Tractor and Equipment, LLC
Subsequent Event [Line Items]
Name of acquired entity				Howell Tractor and Equipment, LLC
Description of acquired entity				Howell Tractor and Equipment, LLC. (“Howell”), a privately held heavy equipment dealer serving Northern Illinois and Northwest Indiana.
Howell Tractor and Equipment, LLC | Subsequent Event
Subsequent Event [Line Items]
Business acquisition, consideration paid in cash	$ 23.3
Business acquisition, shares issued	507,143
Floorplan eligible new equipment inventories, purchased value	$ 3.4
Total enterprise value	$ 23.8