AmQuip Acquired by Clearlake Capital Group

October 8, 2014 - Clearlake Capital Group L.P.  has acquired AmQuip Holdings LLC from a consortium of investors including Altpoint Capital Partners LLC. Financial terms of the transaction were not disclosed.

Clearlake’s acquisition of AmQuip was supported by a financing consortium led by Wells Fargo Capital Finance as Administrative Agent and Joint Lead Arranger, PNC Bank, N.A. and CIT Bank as Joint Lead Arrangers, and Capital One. AmQuip and the selling shareholder group were advised by Oppenheimer & Co. Inc. as lead financial advisor and by RBC Capital Markets.

“We are excited to partner with Clearlake, which boasts a successful track record of backing, supporting and growing companies that provide services to the energy and industrial end markets,” said Albert Bove, CEO of AmQuip. “Clearlake’s operational expertise and financial resources will help solidify AmQuip’s position as a leading North American lifting solutions provider.”

 

“AmQuip’s strong focus on safety, customer service, and attracting, developing, and retaining skilled employees has positioned it as a leader in the crane rental space” said José Feliciano, founding partner at Clearlake. "We are excited to partner with the company’s outstanding executive and professional team to grow AmQuip as a platform for industry consolidation, both organically and through acquisitions.”

 

In addition to Bove and Feliciano, Arta Tabaee, and Colin Leonard of Clearlake will join the company’s board of directors.