May 3 - North American private equity firm Apollo Global Management has signed agreements to acquire and merge together AmQuip Crane Rental and Maxim Crane Works.
Joined together, AmQuip and Maxim will offer a fleet of over 1,950 cranes, as well as a broad geographic footprint across North America.
The combined company will include senior executives from each company, and both the AmQuip and Maxim brands will continue as part of the merger.
Maxim ceo Bryan Carlisle is expected to serve as ceo of the combined business; while AmQuip's ceo, Bryan Carlisle, will continue to run the AmQuip operation as well as serving on the combined company's leadership team.
Maxim's Chief Executive Officer, Bryan Carlisle, is expected to serve as Chief Executive Officer of the combined business. AmQuip's Chief Executive Officer, Al Bove will continue to run the AmQuip operation, serve on the combined company's leadership team as well as play a senior role in the integration process.
The proposed transactions are subject to regulatory approval and customary closing conditions. Financial terms of the transactions were not disclosed.
HLPFI reported in May 2015 that Maxim had acquired Orlando, Florida based heavy haulage, specialised rigging and crane services provider Crane Rental Corporation.