Two of the leading crane rental firms in the U.S. are hooking up.
Funds affiliated with Apollo Global Management will acquire AmQuip Crane Rental and Maxim Crane Works from their respective current owners. The resulting merger will form “a premier lifting solutions provider,” boasting a crane rental fleet approaching 2,000. Not disclosed were financial terms of the proposed transactions, announced May 2.
“AmQuip and Maxim share similar cultures and values relating to people, safety and the desire to serve the industry,” said Bryan Carlisle, Maxim’s chief executive officer, who is expected to serve as CEO of the combined organization. “We intend to run the business in the most effective manner possible, utilizing the best practices of both organizations. This partnership will be mutually beneficial to both of our teams and, most importantly, to the customers we serve by providing an enhanced level of service, expertise, equipment and geographic coverage.”
Al Bove will continue to run the AmQuip operation, serve on the combined company’s leadership team and play a leading role in the integration, an Apollo release stated. Founded in 1967, AmQuip serves more than 6,600 customers through a network of 13 branch locations across 36 states. AmQuip operates one of the youngest crane fleets in the industry with more than 550 units with lifting capacities ranging 6-716 tons.
Maxim was founded in 1966, and today serves more than 7,500 customers through a network of 31 branch locations throughout the U.S. The company operates more than 1,400 cranes, and is a leading provider of specialized crane and lifting solutions in North America.