PITTSBURGH, TREVOSE, Pennsylvania and NEW YORK — Funds managed by affiliates of Apollo Global Management have agreed to acquire AmQuip Crane Rental and Maxim Crane Works.
Apollo intends to combine Maxim and AmQuip, creating a premier lifting solutions provider with a modern crane rental fleet comprised of more than 1,950 cranes, a comprehensive set of value-added service capabilities and a broad geographic footprint across North America. The proposed transactions are subject to regulatory approval and customary closing conditions. Financial terms of the transactions were not disclosed.
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 from six to 716 tons.
Founded in 1966, Maxim 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.
The combined company will include senior executives from each company, and both the AmQuip and Maxim brands will continue as part of the combined organization. Maxim CEO Bryan Carlisle is expected to serve as CEO of the combined business. AmQuip CEO Al Bove will continue to run the AmQuip operation, serve on the combined company’s leadership team and play a senior role in the integration process.
