Atlas Crane Service Acquired by Ares Management
Aug. 23, 2022 – The Infrastructure Opportunities strategy, a fund managed by Ares Management, has acquired controlling interest in Atlas Crane Service LLC, a crane rental company that is headquartered in Aurora, Illinois, and primarily serves the wind industry.
Founded in 2009, Atlas is a full-service crane rental provider offering turnkey maintenance, repair, and overhaul solutions to more than 250 customers.
Atlas’ fleet of cranes provides mission-critical maintenance and repair services for wind turbines.
Atlas’ executive management team, led by CEO Zach Prentis, will continue to guide the company with an emphasis on growth, geographic expansion, and a continued focus on delivering premier services and a dedication to safety.
“The investment by Ares marks an exciting next chapter for Atlas, our employees, and our customers as we seek to accelerate the growth of our business and capabilities,” said Prentis. “Ares brings meaningful resources and deep experience in the renewables industry, which we believe will support our strategic expansion in the growing wind sector. Our team is energized by the future opportunities for Atlas, and we remain steadfast in our commitment to supporting renewable energy generation across the U.S.”
“We are excited to support Atlas’ long-term vision and leverage our combined strengths as we seek to drive continued growth of renewable energy power generation,” said Keith Derman, partner and co-head of Ares Infrastructure Opportunities. “Zach and his team have built a differentiated business with a strong, entrepreneurial culture, and we look forward to helping them provide critical services and solutions to wind asset owners and operators throughout the country.”
“Ares and Atlas share a commitment to accelerating the transition to a low-carbon economy, which requires high quality and competitively priced servicing of wind energy assets,” said Steve Porto, partner in Ares Infrastructure Opportunities. “We believe that Ares’ deep renewables experience will provide Atlas with strong support to capitalize on the significant opportunity in this resilient and growing asset class.”
TM Capital served as the exclusive financial advisor to Atlas Crane Service. Terms of the transaction were not disclosed.
Founded in 2009 and headquartered in Aurora, Illinois, Atlas has a diverse fleet of all-terrain, rough terrain, hydraulic, crawler, and teleboom-crawler cranes, along with additional value-added services, including skilled operators on nearly all rentals, transportation, heavy hauling, subcontracted labor coordination, engineering, and permitting.
Prior to its acquisition by an Ares Management fund, Atlas was founder-owned and operated for more than 13 years. The company also serves non-wind markets in the Midwest U.S. Learn more at https://atlascraneserviceinc.com