USA-based crane rental and lifting services provider Maxim Crane Works has acquired the assets of Cincinnati-based Tri-State Crane.
Maxim ceo, Bryan Carlisle, said the acquisition is a strategic move designed to expand Maxim’s existing operations and facilitate its growth in the region.
With its fleet of all-terrain cranes, boom trucks, lattice boom crawler cranes, rough-terrain cranes and truck-mounted hydraulic truck cranes, Tri-State provides hauling, storage and rigging services as well as specialised lifting services.
According to Paul Pitzer, co-owner of Tri-State Crane, the additional resources and nationwide services that Maxim offers will support the best opportunities for the company’s long-term growth and success.
Ed Peng, member of the board of directors at Maxim Crane and principal for private equity firm Apollo Global Management, added: “The Tri-State Crane acquisition is an excellent strategic move that adds more young assets to Maxim’s fleet and seamlessly integrates into the company’s existing footprint.
“We know there are many other regional players that could be a good fit as well and we are pursuing those opportunities to help grow and expand the business.”