Pittsburgh — Maxim Crane Works Holdings last month announced a merger agreement with affiliates of Platinum Equity Capital Partners. The agreement calls for Platinum Equity to acquire all of the outstanding common stock of Maxim Crane for $42.50 per share in a cash transaction.
The parties expect the transaction to close by the end of the month, but no later than Aug. 20. The acquisition requires the approval of the majority of Maxim stockholders and customary regulatory authorities. Holders of Series A and Series B Warrants to acquire Maxim Crane common stock will receive the difference between the exercise price of their warrants and $42.50 per share.
Maxim's board of directors was advised by Goldman, Sachs & Co., and the law firm of Latham & Watkins.
Pittsburgh-based Maxim Crane is the nations' largest crane rental company, No. 7 on the RER 100.