Maxim Crane Works has acquired Crane Rental Corp., a provider of heavy hauling, specialized rigging and crane services in the southeastern United States, the company announced today. Terms of the transaction were not disclosed.
CRC, based in Orlando, Fla., provides operated and bare crane, rigging and lifting services from three locations in Florida and one in Alabama. The company’s fleet includes, primarily, crawler, rough-terrain, all-terrain, tower- and truck-operated cranes plus fleet platform trailers, dual-lane trailers, and hydraulic gantries.
Maxim CEO Bryan Carlisle said the CRC acquisition is a strategic move designed to expand Maxim’s footprint in the Southeast and facilitate continued growth in the region.
“Acquiring a high-quality crane rental outfit like Crane Rental Corporation will help accelerate our expansion in the southeastern United States, strengthen our team and add new equipment to our fleet,” said Carlisle. “CRC is also a great fit for Maxim culturally, sharing our deeply held commitment to safety and service.”
Alan Ashlock, president of CRC described the combination as a great fit.
“Our relationship with the Maxim management team goes back more than 20 years,” said Ashlock. “We look forward to our heavy hauling, rigging and crane assets, especially our experienced work force, joining forces with Maxim to continue to provide services nationwide.”
The acquisition is the second Maxim has completed in the past 30 days. On May 15, Maxim announced the acquisition of assets from Indianapolis-based Poindexter Transport Inc. and Crane Service.
Maxim is a portfolio company of Platinum Equity. Louis Sampson, Platinum Equity partner that led the acquisition of Maxim in 2008, said there are many more opportunities for Maxim and the company plans additional expansion.
“The industry remains highly fragmented and Maxim is a tremendous platform for additional growth,” said Samson. “Maxim has strong leadership, national reach, a great reputation and the capacity for seamlessly integrating new people and equipment into its existing footprint.”
“Maxim has a great history and relationship with Alan and his team at CRC,” added Frank Bardonaro, president of sales and business development at Maxim. “They are proven operators across many key regions and equipment sectors, such as heavy haul and rigging, that are great complements to Maxim’s operations.”
Maxim Crane Works is based in Pittsburgh.
