Alta Equipment Group adds board observer from investor Mill Road

Alta Equipment Group Inc. (NYSE: ALTG) entered into a cooperation agreement with Mill Road Capital III, L.P., allowing the investment firm to appoint a non-voting observer to its board of directors, the company announced.

Under a board observer agreement dated January 21, 2026, Mill Road appointed Deven Petito as its initial board observer. Petito serves as a management committee director at Mill Road Capital, a private investment firm that focuses on small publicly traded companies in the U.S. and Canada.

Petito previously worked in private equity at Kohlberg Kravis Roberts & Co. and in investment banking at Morgan Stanley. He holds an economics degree from Princeton University and an MBA from Harvard Business School.

"Mill Road is a significant shareholder of Alta and we appreciate their continuing support of the Company and its management team," said Ryan Greenawalt, chief executive officer and chairman.

Mill Road Capital was founded in 2004 and invests in small public companies, working with management teams and boards through collaborative engagement. The firm has not disclosed the size of its stake in Alta Equipment Group.

Alta Equipment Group operates an equipment dealership platform across North America, selling and renting material handling equipment, construction machinery, and related products. The company operates over 80 locations across 15 U.S. states and three Canadian provinces.

The information is based on a company press release.

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