Maxim Crane Works last week announced it is exploring business alternatives including a possible merger, sale of the business, or other potential transactions. The Pittsburgh-based crane rental company has retained Goldman, Sachs & Co. to act as its financial advisor during the process.

During 2005, Maxim Crane increased its annual revenue by more than 10 percent compared with the previous year, the company said. During the first quarter of 2006, Maxim increased its rental revenue 21 percent over the first quarter of 2005.

Maxim officials said the company, No. 8 on the RER 100, anticipates no changes to its existing business strategy while it considers strategic alternatives.

Maxim is the third top 10 rental company to officially announce the strategic exploration process in 2006. NES announced the process in January and was acquired by a private equity firm last month. Atlas Copco, parent company of RSC Equipment Rentals, announced its intention to explore a divestment of RSC in early February.