Bridgeville, PA – Maxim Crane Works Holdings Capital, LLC (the “Company”) today announced the final results for its previously announced tender offer to purchase (the “Tender Offer”) up to $132.39 million aggregate principal amount (the “Tender Cap”) of its outstanding 10.125% Second-Priority Senior Secured Notes due 2024 (the “Notes”) for cash. The Tender Offer expired at the end of the day, 12:00 midnight, New York City time on October 13, 2020 (the “Expiration Time”).
As of September 29, 2020 (the “Early Tender Time”), the Company had been advised by D.F. King & Co., Inc. (“D.F. King”), as tender agent and information agent for the Tender Offer, that $184.7 million in aggregate principal amount, or approximately 33.89%, of the outstanding Notes had been validly tendered and not withdrawn in the Tender Offer. On October 14, 2020, the Company was advised by D.F. King that no additional outstanding Notes had been validly tendered in the Tender Offer after the Early Tender Time and prior to the Expiration Time.
Holders whose Notes have been accepted for purchase will receive $1,027.50 per $1,000 principal amount of the Notes that the Company accepts for purchase, which includes the Early Tender Premium of $30.00 per $1,000 principal amount. Holders of Notes accepted for purchase will also be paid accrued and unpaid interest on such Notes to, but excluding, the settlement date. The settlement date for the Tender Offer is expected to occur on or about October 15, 2020.
“We are pleased to announce the successful acquisition of the assets associated with NCSG Crane and Heavy Haul in the USA as we continue to expand our Western Region”, said Bryan Carlisle, CEO of Maxim Crane. “We are excited to add the fleet, footprint and team associated with this acquisition to our Maxim Family. The addition of these outstanding team members and equipment will enable us to enhance our service to the wind and renewable energy segment throughout the region. It will ensure that we are able to provide safe, reliable and available services anywhere in the USA”, added Carlisle.
This latest acquisition adds new sites in Billings, Sidney and Great Falls, MT. “These additional sites and fully operational service centers will allow Maxim to increase its presence within the region, which includes the most recent opening of our Denver, CO branch”, added Frank Bardonaro, COO for Maxim.
About Maxim Crane Works
Founded in 1937, Maxim is one of the largest lifting solutions businesses in North America. Maxim, with its affiliated companies, serves more than 8,000 customers through its fleet of over 2,600 cranes situated in 61 branches. Maxim’s full suite of lift solutions include operated and maintained cranes, bare rental cranes, heavy haul/rigging services, and value-added advisory services. Maxim offers a full portfolio of cranes used in a variety of end markets. For more information about Maxim, please visit http://www.maximcrane.com/.
Newport, KY and Jefferson, LA–(BUSINESS WIRE)–Maxim Crane Works, L.P. (“Maxim”) and B&G Crane Service, LLC (“B&G Crane”) today jointly announced that the companies have entered into an agreement pursuant to which Maxim will acquire B&G Crane, an indirect wholly-owned subsidiary of NCSG. B&G Crane is one of the largest providers of crane rental and related lift solutions servicing the Gulf Coast Region of the United States. Maxim’s acquisition of B&G Crane enhances Maxim’s full-service, nationwide crane rental and lifting solutions platform and expands its operations in one of the nation’s most critical regions.
Following the closing, Maxim will begin integrating B&G Crane with its existing operating business. Customers will continue to receive the same high quality service they have come to expect. Through Maxim’s coast-to-coast footprint, engineering, operated rentals and heavy haul services, the B&G Crane team and customers will gain access to one of the largest modern fleets of full service lifting solutions in the world.
Bryan Carlisle, Chief Executive Officer of Maxim, stated, “B&G Crane offers one of the most experienced teams of crane professionals in the region. Their state of the art fleet provides customers with a ‘best in class’ brand of products, parts, services and rental equipment. We are confident that the combination of B&G and Maxim will bring added value to our combined customer base, employees and the industry.”
Trip Grilletta, Divisional Operations VP for B&G Crane, stated, “We believe that this transaction delivers an exciting opportunity for our employees to become part of the Maxim team and look forward to continuing to grow our business with our new partner.”
About B&G Crane
Founded in 1946, B&G Crane, with corporate headquarters in New Orleans, Louisiana and branch offices in Baton Rouge, Beaumont, and Baytown, services customers throughout the Gulf Coast and South Eastern United States with its continuously updated fleet of over 150 cranes ranging from 4 to 825 ton capacities and a supporting truck fleet in excess of 100 vehicles.
Transaction Strengthens Maxim’s Ohio Valley Presence
Cincinnati, OH – Maxim Crane Works announced today it has acquired the assets of Cincinnati based Tri-State Crane. Financial terms of the transaction were not disclosed.
Maxim CEO Bryan Carlisle said the acquisition is a strategic move designed to expand Maxim’s existing tri-state area operations and facilitate continued growth in the region.
“Kathy and Paul have built a great company with an outstanding reputation,” said Carlisle. “We are confident that our ability to provide their customers with the additional resources and services that Maxim Crane has to offer will be a “win-win” for all parties involved.”
Tri-State’s crane services division was established in 1997. They have an excellent fleet mix to service the customer base it has developed within the region. Their full-service capabilities, which include hauling, storage, rigging and specialized lifting solutions have made Tri-State a leader in the region and will be a tremendous addition to the Maxim “Company of Families.”
“We have known the Maxim team for over 35 years and we have always had a great working relationship,” said Kathy and Paul Pitzer, owners of Tri-State Crane. “My father and I both worked for the original Carlisle Company. We feel that the additional resources and nation-wide services that Maxim offers will provide the best opportunities for long-term growth and success,” Paul 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,” said Ed Peng, Principal for Apollo Global Management and Member of the Maxim Crane Board of Directors. “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.”
“The Tri-State crane acquisition will provide our customers in the region with state-of-the-art equipment and expanded resources,” said Frank Bardonaro, COO for Maxim. “It sends a strong message that we value their business and are committed to serving all of their lifting needs.”
Tadano America and Maxim Crane Works have reached an agreement to continue the relationship with Coast Crane as a distributor for Tadano cranes following its acquisition by Maxim Crane Works.
The company will continue be responsible for the sales, marketing and customer service for Tadano’s line of Rough Terrain and All Terrain cranes in the states of Washington, Oregon, Alaska and Hawaii.
Ingo Schiller, president of Tadano America said: “We are looking forward to continuing working with Coast Crane as well as expanding our relationship with Maxim Crane Works. Coast Crane has an established and knowledgeable crane sales and customer support team and are well aligned with Tadano’s goals of safety, quality, and efficiency.”
Maxim chief executive Bryan Carlisle added: “With the Coast Crane acquisition, we saw a great opportunity to build on their existing success and having Tadano products are a significant part of that.”
“Coast has a great team and focus on service. Maxim’s ability to provide full service, turn-key lifting solutions to the Tadano customers in our territory will provide our customers with unmatched product support as we work to continue our growth strategy with the combined strengths of Coast, Tadano and Maxim”, added chief operating officer Frank Bardonaro.
Coast Crane Acquired by Maxim Crane Works
BRIDGEVILLE, PA; BUFFALO GROVE, IL ‘ June 7, 2017 – Maxim Crane Works, L.P. (“Maxim”) and Essex Rental Corp. (OTC: ESSX) (“Essex”) today jointly announced the successful completion of the acquisition by Maxim of Coast Crane Company (“Coast”), an indirect subsidiary of Essex. Founded in 1970 and based in Seattle, Washington, Coast is one of the largest providers of bare crane rental and related lift solutions servicing the West Coast of the United States. Maxim’s acquisition of Coast meaningfully enhances Maxim’s full-service, nationwide crane rental and lifting solutions platform and expands its operations in one of the nation’s fastest growing crane rental markets.
The transaction, previously announced on April 20, 2017, was approved by the stockholders of Essex at a special meeting held on June 5, 2017. The acquisition was funded with the proceeds of an offering of Second-Priority Senior Secured Notes due 2024 issued by an affiliate of Maxim.
Maxim will begin integrating Coast with its existing operating business. Customers will continue to receive the same high quality service they have come to expect. Through Maxim’s coast-to-coast footprint, engineering, operated rentals and heavy haul services, the Coast team and customers will gain access to one of the largest modern fleets of full service lifting solutions in the world.
Bryan Carlisle, Chief Executive Officer of Maxim, stated “Coast Crane offers one of the most experienced teams of crane professionals in the region. Their state of the art fleet provides customers with a “best in class’ brand of products, parts, services and rental equipment. We are confident that the combination of Coast and Maxim will bring added value to our combined customer base, employees and the industry.”
Nick Matthews, Chief Executive Officer of Essex, stated “We believe that this transaction delivers the best current return for our shareholders and provides a good opportunity for our employees to work for a company positioned for growth due to its experienced management team, future business prospects and strong balance sheet.”
Stifel served as the exclusive financial advisor to Coast for the sale; and Brown Rudnick LLP served as Coast’s legal advisor. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as Maxim’s legal advisor.
About Coast Crane
Founded in 1970, Coast serves more than 2,000 customers through a network of 11 branches in Alaska, British Columbia, California, Hawaii, Texas, Oregon and Washington. Coast owns more than 250 cranes and is a leading provider of crane and lifting equipment rental and sales, specializing in bare crane rentals. For more information about Coast, please visit https://www.coastcrane.com/.
About Maxim Crane Works
Founded in 1937, Maxim is one of the largest lifting solutions businesses in North America. Maxim, with its affiliated companies, serves more than 6,000 customers through its fleet of over 2,100 cranes situated in 46 branches. Maxim’s full suite of lift solutions include operated and maintained cranes, bare rental cranes, heavy haul / rigging services, and value-added advisory services. Maxim offers a full portfolio of cranes used in a variety of end markets. For more information about Maxim, please visit http://www.maximcrane.com/
Forward Looking Information Disclaimer
Some of the statements in this press release constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include statements regarding the parties’ intent and belief or current expectations and may be identified by the use of words like “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “plan”, “will”, “should”, “seek”, the negative of these terms or other comparable terminology. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various assumptions and factors, many of which are beyond the parties’ control. Forward-looking statements are not guarantees of future performance, results or events.
Maxim Crane Works, LP is pleased to announce the promotion of Monty Glover, Jr., from Regional Operations Manager to the Vice President of the Mid-Atlantic Region.
“We are extremely proud to appoint Monty Glover as the Vice President of our Mid-Atlantic Region”, said Bryan Carlisle, CEO for Maxim. “Our team has been extremely successful in identifying our customer needs and matching the talent and equipment to support those requirements on a national platform. Maxim is confident that this is a region that will enable us to invest and expand with the growing needs of the region. We have invested over $40 million of equipment and resources into this strategic region over the past 12 months under the leadership and direction of Monty and his team. As we continue to invest and grow the region, we know that Monty is a proven leader who will ensure our customers and team members that we will have the equipment, services, and safety programs needed to facilitate growth well into the future”, he added.
“Monty has over 20 years of experience at Maxim Crane”, said Frank Bardonaro, COO for Maxim. “He has been successful throughout his career at Maxim, learning the business from the ground up. Monty began at Maxim working on the shop floor in 1996. He gained experience in every aspect of the operations, including dispatch, branch management, sales most recently, as Regional Operations Manager based in Charlotte. His experience in the industrial sector and specialty lifting services will enable Monty to lead our expansion from the Carolina’s into Virginia and other surrounding areas. He is extremely customer focused and results oriented and we are extremely honored to announce his promotion. We look forward to his continued success as we support Monty and his team as Maxim continues its growth throughout the region, ” continued Bardonaro.
Maxim Crane, the largest provider of crane related services in North America, has strengthened its Florida Tower Crane position by designating its Davenport, FL operation as the Center of Excellence for its Tower Crane Operations in the region. Maxim has converted its Central Florida location in Davenport to the Tower Crane Operations Headquarters for the Florida and Southeast Region. This will allow Maxim to be more strategically located to customers from Tallahassee to Naples with a targeted focus on the Tampa Region along the Gulf Coast of Florida.
“Maxim Crane has always held a very strong position in the Florida region regarding tower crane projects. Our strategically located branches in South Florida and Central Florida have allowed us to provide the safety, service, operated rentals and engineering services to support our customers throughout the state”, said Scott Brandstadt, Vice President of Sales for Tower Cranes. “We have made a very customer focused decision to ramp up the facilities in Davenport as part of our continuous improvement process here at Maxim. We have increased the amount of factory trained technicians, spare parts, refurbishment operations and sales force to meet the continued demands of our customers in the region. Our ability to provide service via our national “hub and spoke” system will be significantly improved with the additional services that we can now provide from the Central Florida and Tampa locations,” added Brandstadt.
“Florida has always been a core component of the Maxim Crane Organization and our long-term growth strategy”, said Frank Fioravanti, Vice President of the Florida Region for Maxim. “We have been here through the good times and the tough times, but we have always been here for our customers and team members. We have always been able to partner with our customers over the long run to ensure that they have the resources and support they need to remain profitable and competitive during every phase of the building cycles. The enhanced operations in Davenport will allow us to focus on up-time, reduced freight charges, improved response times and 100% turn-key solutions for tower crane projects throughout the region. We believe that the addition of the “Center of Excellence” for Tower Cranes based at the Davenport Hub will enable Maxim to continue to provide the levels of service and support required by our customers as we continue to expand our fleet and services, especially along the Gulf Coast of the State,” said Fioravanti.
“Our team in the Florida and Southeast Regions have always been customer focused groups. We have the right team, the right equipment and the laser focused approach to “Customer First” thinking that our clients deserve and require in today’s environment”, said Frank Bardonaro, Chief Operating Officer for Maxim.” Brandstadt, Fioravanti and Matt Hyden, VP of the Tower Crane Division for Maxim, identified a need to improve the service and fleet offerings for our Tower customers as we continued to expand in the Southeastern USA, and especially, Florida. Our ability to support our fleet of nearly 400 tower cranes required a targeted approach to the region and the Davenport location is strategically located to ensure our customers that Maxim can be anywhere in the state within hours, not days. The goal was to improve safety, service and sales activities for our customer’s projects. The new Tower Crane Center of Excellence in Florida will provide the service levels needed to compete in today’s market as well as provide our customers with improved pricing for freight, erection and dismantlement across the state”, added Bardonaro.
“It has been exciting to integrate the Maxim, AmQuip and Crane Rental Corporation teams around the country, and especially in Florida”, said Hyden. “We know that our customers have a lot of choices, so we focus on providing them with every type of support they needto go from the pre-planning stage to the “topping out” phase of the project. Our in-house engineering, multi-million dollar parts inventory, factory trained technicians, support cranes and best in class sales team provides our customers with a true “one-stop-shop” for every phase of the tower crane project.” added Hyden. “We are excited to have the newly dedicated Tower Crane Facility in Central Florida, as it complements our Birmingham, Atlanta, Miami and Cincinnati Tower Crane Hubs in an accretive manner,” said Hyden.
“We are looking 5-15 years ahead right now”, said Bryan Carlisle, CEO for Maxim Crane. “We have the obligation to look at the markets today and work towards what our customers need today, as well as into the future to ensure their success as well as ours. Our increased presence in the Southeast Region, and especially Florida, will ensure that we have the equipment and resources needed for our customers. We are not just adding fleet and locations, but extremely talented people”, added Carlisle. “We feel that we have one of the best tower crane sales teams in the region. Doug Trawick and Scott Brandstadt lead a team that has more than 30 years of experience per person. However, we have also added David Lloyd to the tower crane division in order to focus on the Central Florida and Tampa markets. David has been part of the Maxim/ Crane Rental Corporation team for more than 30 years. He has worked in every aspect of the business and understands the customer needs as much as anyone I have ever known. We are especially pleased to announce that his focus on tower cranes for the Tampa and Central Florida markets will ensure our customers that Maxim will deliver what they need, anywhere and anytime they need it!” said Carlisle.
Maxim Crane is proud to announce the promotion of Lance Lotz as the new Branch Manager of the Tampa, Florida location. “Lance has nearly 25 years of Crane and Rigging experience. He started out working on the cranes as an oiler, then operator and continued to work throughout the country as a project manager, branch manager, sales rep and dispatcher as he learned every aspect of the business. He has the type of experience that is invaluable to our customers and to our other team members. Lance will be a tremendous asset to our client base along the Gulf Coast and throughout the state of Florida. Lance has a proven track record of facilitating growth, and we are extremely pleased and excited to have him leading our new expansion in the Tampa, Florida region”, stated Frank Bardonaro, Chief Operating Officer.
“The Florida region is one that we have focused on since the early 1980’s”, stated Bryan Carlisle, CEO of Maxim. We have continued to invest in the region organically and through acquisitions”, he continued. “The recent acquisition of Crane Rental Corporation combined with the AmQuip Crane fleet has placed Maxim in an extremely favorable position for our customers to feel confident that we can provide them with any type of crane and lifting services they need, anywhere and anytime in the state. We look forward to supporting Lance and the entire Maxim Family of Customers and Employees as we continue our investment in the region. Between our acquisitions and organic growth, Maxim has added over $100 million of cranes to the state of Florida over the past 24 months and we are excited to continue our focus on providing the region with the best people and equipment available”, said Carlisle.
“I’m looking forward to working with our customer base and team members of Maxim throughout Florida and the rest of the country,” stated Lance Lotz, Branch Manager of Maxim Crane in Tampa. “It is exciting to work for a company that is completely focused on growth and customer service. We understand that the key to our growth is our ability to attract and retain key team members and ensure that we can safely deliver the results that our customers need and deserve. We have already expanded our Tampa fleet and equipment offerings and will be relocating into a renovated facility. Our customers expect us to be their “one-stop-shop” and this new location will enable Maxim to continue to add the types of equipment and experienced personnel that our customers expect from Maxim facilitating our ability to provide the best service anytime and anywhere they need it”, continued Lotz.
Maxim Crane is consistently working to meet the growing demands of its customers. The Maxim Team is committed to recognizing regional and national needs to ensure we are providing the necessary coverage, safety, personnel and equipment to not only meet, but to exceed its customers’ expectations.
Recently, Maxim Crane expanded its Heavy Transportation and Rigging division with the addition of a new location in Bithlo, FL. The state-of-the-art facility is located on nearly 15 acres, provides both inside and outside storage and is strategically located to provide the Florida and eastern USA with complete heavy haul, rigging and lifting services. The Team that has been assembled averages more than 20 years of specialty lifting and rigging expertise per person and has proven their capabilities throughout the United States.
“We recognized the need to expand our heavy haul and rigging division for the purposes of customer reach, increase in inventory space, and to dedicate a location that solely concentrates on these services. It will allow our team to strategically place equipment throughout our regions and to offer turn-key lifting services including PST Goldhofer Trailers, Hydraulic Gantries, Strand-Jacks, Cantilever Beams, Jack and Slide Systems, and the Alternative Lift Tower (ALT),” stated Gulf Coast Manager, John Boone.
“The expansion into our new Heavy Haul Headquarters and strategic placement of equipment throughout the country with over 50 branch locations will allow us to be more competitive, while giving our current customers access to all the services offered by Maxim Crane Works, L.P.”, stated Frank Bardonaro, C.O.O. “We have listened to our customers and their need to have a “one-stop-shop” when it comes to the heavy lift cranes and the equipment packages. This could be anything from a large HVAC project to moving turbines across the region. John Boone and the team have the engineering and operational expertise to ensure the project is completed safely, on time and on budget”, he concluded.
The Maxim Team barge loading out tower pieces with Goldhofers/Coal Ship Loaders
Maxim and AmQuip Will Both Continue Operating and Serving Customers as Part of a Combined Organization
PITTSBURGH & TREVOSE, Pa. & NEW YORK–(BUSINESS WIRE)–Funds managed by affiliates of Apollo Global Management, LLC (NYSE:APO) (together with its consolidated subsidiaries, “Apollo”) announced today that they have signed definitive agreements to acquire AmQuip Crane Rental (“AmQuip”) from affiliates of Clearlake Capital Group, L. P. (“Clearlake”) and Maxim Crane Works (“Maxim”) from affiliates of Platinum Equity. Upon the closing of these transactions, Apollo intends to combine Maxim and AmQuip, creating a premier lifting solutions provider operating 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 United States. 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’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.
“AmQuip and Maxim share similar cultures and values relating to people, safety and the desire to serve the industry,” said Carlisle. “This combination represents an opportunity for us to build a world class organization with the best people in the crane industry. We intend to run the business in the most effective manner possible, utilizing 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.”
“Our companies know each other well with ties that go back more than 30 years,” said Bove. “The teams on both sides throughout each organization are made up of the most experienced lifting solutions experts in the industry and the ability to work together going forward is exciting for everyone involved.”
Larry Berg and Antoine Munfakh, Partners at Apollo Global Management, said, “We are tremendously excited by this unique opportunity to combine two premier businesses in the North American lifting services market. Both Maxim and AmQuip have built exceptional reputations and customer relationships through the depth of their employee talent and their commitment to providing the highest levels of customer service. Through this transaction and by leveraging the talent of both companies, we believe the combined organization can deepen and broaden these relationships and better serve its customers’ critical lifting solutions needs. We see many compelling growth and innovation opportunities in the market, and we look forward to bringing Apollo’s resources to bear in helping Bryan and Al achieve their long-term strategic objectives.”
Platinum Equity Partner Louis Samson, who led the acquisition of Maxim, said “We are proud of everything Maxim has achieved during our stewardship. The company today is a fundamentally strong business with great leadership, talented employees, sound business practices and all the tools it needs to help lead the industry for years to come. Maxim has proven its ability to successfully grow organically and through acquisition, and now combining forces with AmQuip is a logical and exciting next step.”
“We are pleased to have sponsored AmQuip during a period of significant growth and transformation. AmQuip’s foundation as a leader in the lifting solutions market, plus its top-notch safety record and stellar reputation, position the company well for its new partnership with Maxim,” said Jos E. Feliciano, founder and Managing Partner at Clearlake. “We remain strong believers in AmQuip’s vision, people, and the tremendous value they bring to this combination.”
Barclays is serving as financial advisor to Apollo, Harris Williams & Co. and Oppenheimer & Co. Inc. are serving as financial advisors to AmQuip and Clearlake, and Goldman, Sachs & Co. is serving as financial advisor to Maxim. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor to Apollo, Stradling Yocca Carlson & Rauth and Cooley LLP are serving as legal advisors to Clearlake, and Latham & Watkins LLP is serving as legal advisor to Platinum Equity. The debt financing for these transactions is being committed to by J.P. Morgan Chase Bank N.A., Wells Fargo, Barclays, and Jefferies Finance LLC, and Cahill Gordon & Reindel LLP and Otterbourg P.C. are serving as their legal counsel.
About Apollo Global Management
Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management of approximately $170 billion as of December 31, 2015 in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.
About Maxim Crane Works
Maxim Crane Works is a leading provider of comprehensive lifting services in the United States. Maxim Crane Works provides risk management, safety and insurance programs that are unparalleled in the industry. Maxim Crane Works’ maintenance and service programs promote maximum uptime with minimal delays. More information about Maxim Crane can be found on the Company’s website at www.cranerental.com.
About AmQuip Crane Rental
Headquartered in Trevose, PA, AmQuip provides highly specialized, complex lifting solutions, offering a differentiated value proposition to its customers in North America. A leader in the crane rental and solutions market, AmQuip operates a fleet of more than 550 cranes and specializes in the provision of fully operated rental services, bare rentals, value added consultation services and complete setup and logistics support to its target clientele in the refinery, petrochemical, industrial, non-residential construction, and other sectors. For more information, please visit www.amquip.com.
About Clearlake Capital Group
Clearlake Capital Group, L.P. is a private investment firm with a sector-focused approach. The firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational and strategic expertise. The firm’s core target sectors include industrials, energy and power; technology, communications and business services; and consumer products and services. Clearlake currently has over $3.5 billion of assets under management. For more information about Clearlake, please visit www.clearlake.com.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with a portfolio of approximately 25 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations ‘ a trademarked strategy it calls M&A&O ‘ acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 20 years Platinum Equity has completed more than 175 acquisitions. For more information about Platinum Equity, please visit www.platinumequity.com.
For AmQuip Crane Rental and Clearlake Capital Group:
Owen Blicksilver Public Relations
Kristin Celauro, 732-433-5200
For Maxim Crane Works:
Patrick Lillis, 412-504-0199
For investor inquiries regarding Apollo Global Management:
Apollo Global Management, LLC
Gary M. Stein, 212-822-0467
Head of Corporate Communications
Apollo Global Management, LLC
Noah Gunn, 212-822-0540
Investor Relations Manager
For media inquiries regarding Apollo Global Management:
Rubenstein Associates, Inc.
Charles Zehren, 212-843-8590
For Platinum Equity:
Daniel Whelan, 310-282-9202
Maxim Crane Adding Thirteen 400 ton to 825 ton Manitowoc Crawler Cranes
Pittsburgh, PA (January 12, 2016) ‘ Maxim Crane, the largest crane rental company in North America, isn’t waiting for the future to take delivery of new, large capacity crawler cranes. They feel the future is NOW and have started taking delivery of several 400 ton to 825 ton size crawler cranes. Maxim has added over a dozen new cranes in the high capacity crane class in what is already the largest fleet of its size in the USA. They will have received delivery of an additional (6) 400 ton class machines and (6) 825 ton machines by the end of Q1, 2016 and every one of the cranes was shipped directly to working projects around the country.
“We are pleased to be coming off of the most successful year in our company history and recognized the current need of our strategic partners requiring large capacity premier lifting cranes right now,” said Bryan Carlisle, CEO of Maxim Crane. “Our ability to meet with key customers on a regular basis continuously allows us to identify these needs ahead of time and keeps a constant flow of new equipment coming into our fleet,” he added.
“Maxim has always focused on strong relationships with the crane manufacturers. We recognize and work with the strongest European and US Crane manufacturers on a regular basis to help determine what the industry needs and identify who has the most versatile products for our customers when making our capex decisions,” added Frank Bardonaro, President of Sales for Maxim. “With our true coast-to-coast footprint, it is critical that we are able to strategically position attachments, components, parts and qualified technicians throughout the country. The addition of the (5) new Manitowoc 16000’s and (8) of the new VPC Class of crawlers right now, rather than waiting, has given our customers a tremendous advantage and multiple options for their complex lifting operations,” added Bardonaro. “We felt that by taking delivery of these new cranes now and in addition to the new cranes planned over the next several years, Maxim will be able to remain ahead of the curve and not waiting for new products to be introduced and tested over the next few years,” he added.
“Maxim has been extremely focused on the specialized needs of our customers in the heavy lift and rigging sector,” stated Rob Schultz, VP of the Crawler division. “We have been looking at the new VPC design for years and felt that it would provide our customers with better lifting solutions on projects where site access and ground preparation were critical to the project. Although we looked at some of the new products that may be available in 2017 or 2018 from some of the European manufacturers, we knew we had a need for these cranes now and felt that the current engineering and support offered from Manitowoc offered the best solution and product available in the market,” he added.
“Our fleet and service combined with our focus on safety has positioned Maxim as a preferred vendor to the most performance and safety focused projects and customers in the world,” added Carlisle. “As part of our continuous improvement strategy, we look forward to participating with manufacturers and customers as well as other industry professionals to ensure that we are re-investing in the best products the world has to offer,” said Carlisle. “We are excited to continue to offer our customers with new equipment, improved service and a constant focus on safety. Our investment in training our people and purchasing new equipment will ensure that Maxim Crane and our customers stay ahead of the market in every aspect,” he concluded.
Second Acquisition in 30 Days Highlights Maxim’s Ability to Identify and Integrate High-Quality Strategic Add-Ons
Pittsburgh, PA (May 22, 2015) ‘ Maxim Crane Works announced today it has acquired Orlando, Fla.-based Crane Rental Corporation, a provider of heavy hauling, specialized rigging and crane services in the Southeast United States. Financial terms of the transaction were not disclosed.
CRC 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, fleet platform trailers, dual lane trailers, hydraulic gantry’s, Tower and Truck Operated crane equipment.
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 said the combination is a great fit.
“We are excited to become part of the great team at Maxim. 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, and especially our experienced workforce, joining forces with Maxim to continue to provide services nationwide.”
Transaction Strengthens Maxim’s Midwestern Presence as Company Pursues Growth in Market Ripe with Add-On Opportunities
Pittsburgh, PA (May 15, 2015) ‘ Maxim Crane Works announced today it has acquired Indianapolis, Ind.-based Poindexter Transportation, Inc.’s crane services division. Financial terms of the transaction were not disclosed.
Maxim CEO Bryan Carlisle said the acquisition is a strategic move designed to expand Maxim’s existing Indiana operations and facilitate continued growth in the region.
“Acquiring Poindexter’s crane services division will help further strengthen our foothold in the Midwest,” said Carlisle. “The addition of high-quality resources and equipment to our current operations will improve our ability to serve existing customers and strengthen our ability to attract new ones.”
Poindexter’s crane services division was established in 1993 and has one of the newest fleets in Indiana with Rough Terrain, All-Terrain and Hydraulic truck cranes ranging from 22 ton to 350 ton capacity.
“We have known the Maxim team for over 25 years and we have always had a great working relationship,” said Ron Frick, Vice President of Poindexter Crane and Transport, Inc. “We believe that Maxim offers our crane services professionals the best opportunities for long-term growth and success.”
Maxim is a portfolio company of Platinum Equity. Louis Samson, the Platinum Equity partner that led the acquisition of Maxim in 2008, said further strategic add-on acquisitions are a high priority.
“The Poindexter acquisition is a smart strategic move that adds more young assets to Maxim’s fleet and seamlessly integrates into the company’s existing footprint,” said Samson. “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.”
Frank Bardonaro, Maxim’s President of Sales and Business Development, said the Poindexter crane services add-on will be good for Maxim’s customers.
“The Poindexter crane services acquisition will provide our customers in the region with more state-of-the-art equipment and expanded resources,” said Bardonaro. “It sends a strong message that we value their business and are committed to serving all of their lifting needs.”
Pittsburgh, PA (May 13, 2015) ‘ Maxim Crane Works, L.P., Pittsburgh, PA, is pleased to announce the addition of a new branch location in Northeast PA, near Williamsport, PA. Larry Lis, Vice President of the Northeast Region for Maxim, stated, “We have continued to grow our fleet and expand our customer base throughout the Northeast. The facility in Williamsport is a perfect addition to our footprint which will allow us to focus on additional projects throughout the region,” he added.
John Werner, Vice President of Sales for the Northeast Region continued, “In addition to adding several hundred cranes to the fleet over the past 12 months, we have also strengthened our team with key personnel in sales and operations. This new location will continue to provide our customers with the “one-stop-shop” that they have become accustomed to from Maxim Crane Works throughout the country. Jerrod Heil has joined the Maxim Team to lead the expansion in this market. He has tremendous experience in the specialized services, crane rental and power industry which will provide our customers with the services and support they need to succeed in the region.”
“Bryan Carlisle, CEO at Maxim Crane, has provided the support to our regional leaders to identify market demands and pursue those opportunities in the best interest of servicing our customers and strengthening our business,” claimed Frank Bardonaro, President of Sales at Maxim Crane Works. “This geographic expansion, fleet additions and key personnel in the Williamsport, PA area will tie in perfectly between our Pittsburgh, Baltimore and Philadelphia locations. It will also provide another hub in the Maxim footprint enabling our team to focus on key projects and customer needs in the Scranton, Reading, Harrisburg and Allentown, PA region,” said Bardonaro.
May 4, 2015 – Maxim Crane Works L.P. wins SC&RA’s Environmental Award
SC&RA presented its Environmental Award to Maxim Crane Works, L.P., Monroeville, Pa., on April 18 during closing night ceremonies of its Annual Conference in Carlsbad, Calif. As part of its commitment to “go green with increased awareness and visibility for environmental issues,” SC&RA instituted the annual award four years ago to acknowledge a member company that has made outstanding contributions to environmental protection.
“The company has internal standards that go well beyond complying with regulations and encompass strong programs designed to reduce environmental impact and preserve the planet’s beauty and resources for generations to follow,” said SC&RA Chairman Alan Barnhart.
The Association recognized Maxim Crane Works, L.P. for a number of green initiatives, including:
” The development of third party, certified, spill-prevention control and countermeasure plans at all company locations throughout the United States
” Fleet upgrades that result in operations averaging 43 percent lower than the stringent required emission levels established by the California Air Resources Board
” Maintenance plans that subject all company equipment to preventative inspections from 250 to 400 hour levels and computerized scheduling programs to alert the maintenance group about upcoming inspections, which target 120 key points that ensure the fleet operates at top efficiency and help eliminate leaks and other environmental concerns
” An extensive recycling program for all waste oils, coolants, paper, wood, metal and plastics
” A general waste management component committed to waste minimization, avoidance, segregation, recycling and reuse; waste labeling and containment; proper waste handling, storage and transport; and correct waste treatment and disposal
February 12, 2015 – Two SC&RA members recently established SC&R Foundation Named Scholarship/Grant Programs. Both programs have been funded for at least five years.
Frank Bardonaro Jr., President of Sales for Maxim Crane, has established a scholarship in the name of his father, Frank Bardonaro Sr. He spent his entire professional career in the transportation, crane and rigging industry as a leader and mentor to hundreds of co-workers at national crane rental companies. Frank Sr. was a pioneer for developing operator and driver safety programs, as well as state-of-the art dispatching techniques dating back into the 1970s. His unmatched work ethic, passion for winning and determination have been instilled in the hearts of everyone he was around, noted The Cincinnati Enquirer. Frank led by example by going over 30 years without taking a sick-day at work and personified the “Never Give Up” motto. His determination, spirit and faith gave him the strength to not only beat cancer longer than anyone said he could but to still work, play and continue to enjoy his family and friends. Frank Sr.’s granddaughter, Alexys, is the 3rd generation of the family to work in the industry, as she interns during her college breaks. Recognizing the need to attract a broader range of people into our industry, the Bardonaro Scholarship’s ideal candidate will be a family member of an existing industry professional with a strong resume in charitable activities, high grade point average, extracurricular activities at school and desire to focus on improving the lives of those in the Crane and Rigging sector.
The Robert L. Cookinham Memorial Craftsman Grant has been established by George Young Mechanical, Swedesboro, N.J., and Rob’s family, friends, coworkers and numerous clients of the company. Rob believed that training was essential for any professional craftsman and lived up to the motto “Good Enough Is Never Good Enough.” He was an intelligent, inventive, fun-loving man who loved his family. Rob began as an apprentice for George Young in the 1990s and continually advanced himself through experience and additional training, culminating in his graduation from the Associated General Contractors prestigious Supervisory Training course. Rob’s good nature and contagious laugh made challenging projects seem just a little easier. As a Millwright General Foreman, he was a stickler for perfection and innovation and was respected and admired by his coworkers. Whether inventing new ways to handle Hygienic equipment at a MedImmune facility, being part of the Liberty Bell relocation team, mentoring young Millwright apprentices in safe work practices or building custom motorcycles, Rob lived life to the fullest. The Grant recipient should be passionate about training, possess a desire for advancement and hopefully show the same interest that Rob showed in mentoring future industry craftsmen.
Level 10 Construction partnered with Maxim Crane Works have begun construction on a new project in San Francisco which will be one of the tallest buildings in California.
“Our engineers and sales team have worked with the Level 10 Team for several months to help design and plan this project in the safest and most efficient manner available. Our relationships with the Wolffkran Team and Level 10 ensured that we explored every possible option to determine the most effective construction method available and selected the Wolffkran 700B for this project,” said Mark Swaney, President of Maxim’s Western Region.
“This has been one of the most thorough and extensive engineering projects I have ever worked on. The amount of expertise and cooperation from the Maxim team, the Wolffkran Team and the Level 10 Group has been an extensive and gratifying process,” stated Matt Hyden, Vice President of Tower Cranes for Maxim.
“We are honored to partner in a project of this magnitude which will add prestige and awe to an already amazing California skyline,” said Dean Berlin, VP of Sales for the Western Region.
“This project will be one of the most impressive tower crane projects in the country, and we are honored that Level 10 has selected us to be their partner on a project of this magnitude,” said Frank Bardonaro, President of Sales for Maxim.
“Maxim’s ability to combine our long term relationships with the Level 10 Team members who have worked with us on other projects throughout the USA exemplifies the type of 24/7 nationwide crane service and expertise that we offer our customers in this competitive and safety conscious construction environment. We look forward to being part of their team and working with both Level 10 and Wolffkran on various projects in the future,” Bardonaro concluded.
October 23, 2014 – Maxim Crane Worksinstalled a 46-foot high still tower made by Louisville-based Vendome Copper and Brass Works Inc. atMichter’s Distillery inLouisville, Kentucky.Filmed with several GoPro cameras and a drone, this video highlights the hoisting of the 46 foot column stilldropped from over 100 foot height into a 54 foot high still tower building. Additional photos can be found at Louisville Business First.
June 26, 2014 – Maxim Crane Works wasproud to be part of the University of Texas, MD Anderson Cancer Centers’ fight against cancer at the Shell/Pennzoil Grand Prix of Houston. Over 400 donatorssigned the flag tohelp support vital cancer research and patient care initiatives,taking the fight against cancer to a new level. The giant flag flew during the Grand Prix’s “Three-Day Festival of Speed,” June 27-29, 2014.
Maxim Crane today announced the appointment of Bryan Carlisle as Chief Executive Officer. Mr. Carlisle was previously Maxim’s Chief Operating Officer. Mr. Carlisle has worked for Maxim and one of its predecessor companies for 33 years, having started out in his family’s Carlisle Crane business, which was acquired by Maxim in 1999. Prior to serving as COO, Mr. Carlisle was a senior vice president overseeing Maxim’s Midwest and Southeast regions and headed up the crawler crane and tower crane product lines for the entire company.
Maxim Crane Works have taken delivery of more than 30 New Rough Terrain Cranes already in Q1 of 2014 with several additional units in transit. The deliveries include products from Grove and Linkbelt and range in size from 50 to 130 ton in class.
Maxim Crane Works is recognized as the leading provider of cranes and lifting solutions required to meet the extremely demanding needs of safety oriented construction managers in the USA and has the most Stadium/crane related experience in the industry.
Maxim Crane Works is working with Turner Construction on the renovation and expansion of Nippert Stadium, home of the University of Cincinnati Bearcats. The renovation started in March 2014 and is expected to be completed March 2015. Maxim Crane Works has provided a Manitowoc 2250, Link-Belt 8065 Series II and a Grove RT880E and a crew consisting of multiple operators, oilers, engineers and safety professionals.
Over the past few years, Maxim Crane Works has completed stadium projects including: Marlins Park, Miami, FL; KFC Yum Center, Louisville, KY; Lucas Oil Stadium, Indianapolis, IN; University of Phoenix Stadium, Glendale, AZ; Citizens Bank Park, Philadelphia, PA and Petco Park, San Diego, CA just to name a few. Contact: firstname.lastname@example.org for a complete list of stadiums projects.
With the placement of the last beam, PNC Plazais 48 percent complete. About 2,200 PNC employees will move into the office tower at the end of 2015.
Maxim Crane is working with Clark Construction on the National Museum of African American History and Culture, Washington, DC. Maxim Crane has two SK575 and two SK415 Peiner tower cranes on site working through 2015.
Maxim Crane, the largest crane rental company in the USA, has led the tower crane revival in the USA with the largest single tower crane project in the country today. The Brickell City Center Project in Miami currently has 11 tower cranes working in the same footprint along the coast in Florida. “Our sales team and engineers were able to provide a safe lifting solution that was a superior economic and logistical answer to the stringent requirements for a complex project like this”, said Matt Hyden, VP of the Tower Division of Maxim. “Our local sales team had the experience and expertise to partner with the customer to ensure that all of the coordination needed to move in, erect, climb and operate these cranes was perfectly orchestrated to meet the demands of such a critical path project”, said Frank Fioravanti, VP of the Florida Region.
“We have one of the largest tower crane fleets in the USA and continue to reinvest in our fleet and our team. We have already taken delivery of 6 more tower cranes since the beginning of 2014 and have increased our parts inventory by more than $3m since the end of last year. This means Maxim currently has the best and most readily available tower crane parts and service department in the Eastern USA” said Hyden. “We know our customers demand uptime and maximum utilization, so we placed a significant investment into our tower crane segment to reduce reliance from overseas manufacturers and suppliers by having the most critical components on hand at all times” he concluded. “We are looking forward to maintaining our position as one of the leading tower crane companies in the USA with focus on safety, people and our customers as we continue to invest in new products, and focus on customer relationships.”
In September of 2012, Maxim Crane Works was honored to be given the opportunity to showcase our skill and professionalism when we were chosen to perform the lift of the Space Shuttle Endeavor. Maxim Crane Works was selected by NASAs contractor, The United Space Alliance, to be the sole crane service provider for the unloading of The Space Shuttle Endeavor at Los Angeles LAX Airport in preparation for transport to its final resting place, The California Science Center.
Maxim Crane Works fleet contained the specific makes and models of cranes on NASAs short-list of cranes approved to perform this type of lift. Maxim Crane Works also possessed the crane service professionals capable of successfully executing this sophisticated lift.
Maxim Crane Works provided a Demag CC2800 and a Liebherr LTM 1250-6.1 and a crew consisting of multiple operators, oilers, engineers, safety professionals and operational vice presidents to flawlessly complete this historic lift.