Gatwood Crane Service Acquires 43 Cranes from a Subsidiary of ML Crane Group

Gatwood Crane Service, a wholly owned subsidiary of The Bay Crane Companies Inc., has made a major investment in the expansion of its fleet and services in the Chicagoland area with the purchase of 43 cranes and other related support equipment from CC Acquisition LLC (dba Chelino Crane), a wholly owned subsidiary of ML Crane Group Inc.

“This investment represents a significant expansion of our Gatwood Crane fleet located in the Chicagoland area and is indicative of the strong commitment we have to support our existing customers and expanding the customers we serve,” said Kenneth Bernardo, CEO of Bay Crane. “ML Group was looking to focus their business in the Midwestern United States on its strong base of wind and other alternative energy customers and projects. As a result, they had excess fleet that was used primarily to service these industrial customers. The industrial customer base is a core component of our Midwestern growth strategy, so the transaction was a good fit for us both.”

“We are committed to serving our alternative energy customers throughout the Midwest,” said Caroline Asimakopoulos, president ML Crane Group. “This transaction allows us to focus on continuing to build ML Crane Group into the premier crane service provider in this segment of the market. The transaction will enable our company to better serve our alternative energy customers, increasing our investment in equipment and people to provide a broader product offering to these customers.”

The history of ML Crane Group dates back to the founding of its predecessor companies in the 1930s. The company operates nationwide through branch locations across the Rocky Mountain, Southwest, Gulf Coast and Midwest regions of the United States. Bay Crane operates from 15 full-service locations. It was started in 1939 and has grown to become a leader in crane rental and specialized transportation solutions in the United States. The Bay Crane Companies operate out of branch locations in: New York, New Jersey, Rhode Island, Connecticut, Massachusetts under Bay Crane; Michigan, West Virginia and Ohio under Capital City; and in Illinois under Gatwood Crane.