Apollo Funds’ Acquisition of AmQuip Crane Rental Finalized

The acquisition of AmQuip Crane Rental by funds managed by Apollo Global Management has been finalized according to Harris Williams & Co., a middle-market investment bank.

Michael Roth

Aug. 6, 2016

2 min read

Funds affiliated with Apollo Global Management agreed to acquire AmQuip Crane Rental and Maxim Crane in early May.

The acquisition of AmQuip Crane Rental by funds managed by Apollo Global Management has been finalized according to Harris Williams & Co., a middle-market investment bank. In early May the Apollo funds signed definitive agreements to acquire AmQuip Crane Rental and Maxim Crane Works, two of the largest crane rental companies in North America. Apollo acquired AmQuip from affiliates of Clearlake Capital Group and Maxim from affiliates of Platinum Equity.Based in Trevose, Pa., AmQuip provides specialized, complex lifting solutions, with a fleet of more than 550 cranes, offering 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.Clearlake is a private investment firm with a sector-focused approach. Its core target sectors include technology, communications and business services; industrial energy and power; and consumer products and services, currently managing about $3.5 billion of assets.Harris Williams & Co., a member of the PNC Financial Services Group, has deep industry knowledge, global transaction experience, and, the company says, a commitment to excellence.Once both acquisitions are finalized, the acquirers plan to merge AmQuip with Maxim Crane.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.