NEWPORT, Ky. & 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.”
Stifel is serving as the exclusive financial advisor to B&G Crane for the sale; and Weil, Gotshal & Manges LLP is serving as B&G Crane’s legal advisor. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as Maxim’s legal advisor.
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.
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 10,000 customers through its fleet of over 2,600 cranes and 56 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. Important factors that could cause actual results to differ materially from expectations include, without limitation, the ability of the parties to satisfy the conditions set forth in the stock purchase agreement and otherwise consummate the sale transaction, as well as matters beyond the parties' control. Forward-looking statements are not guarantees of future performance, results or events.
