Australia’s D&G Hoists and Cranes last week agreed to acquire The Verticon Group for AUS $12 million (about U.S. $8.7 million), officials of both companies confirmed last week. Included in the sale were all of Verticon’s tower cranes, hoists, ancillary equipment, rental agreements and employees. The sale is subject to the approval of Verticon’s board of directors.

Gino DeCesare, managing director of Perth, Australia-based Verticon, said he “looked forward in continuing to rebuild and expand the Verticon business model and working with Verticon’s existing employees and customers in building a nationally focused tower crane, hoist and mobile crane business.”