Maxim Crane Works Buys Tri-State Crane Rental.

July 17, 2018 - Maxim Crane Works has acquired the assets of Tri-State Crane Rental, Cincinnati, Ohio. The transaction’s financial terms were not disclosed.

 

Maxim CEO Bryan Carlisle said the acquisition is designed to expand Maxim’s existing tri-state area operations and facilitate continued growth in the region.

 

“Kathy and Paul have built a great company with an outstanding reputation,” said Carlisle. “We are confident that our ability to provide their customers with the additional resources and services that Maxim Crane has to offer will be a “win-win” for all parties involved.”

 

Tri-State’s crane services division was established in 1997. It has an excellent fleet mix to service the customer base it has developed within the region. The company’s full-service capabilities, including hauling, storage, rigging, and specialized lifting, will be a tremendous addition to the Maxim “Company of Families.”

 

“We have known the Maxim team for over 35 years, and we have always had a great working relationship,” said Kathy and Paul Pitzer, owners of Tri-State Crane. “My father and I both worked for the original Carlisle Company. We feel that the additional resources and nationwide services that Maxim offers will provide the best opportunities for long-term growth and success,” Paul added.

 

“The Tri-State Crane acquisition is an excellent strategic move that adds more young assets to Maxim’s fleet and seamlessly integrates into the company’s existing footprint,” said Ed Peng, Principal for Apollo Global Management and Member of the Maxim Crane Board of Directors.  “We know there are many other regional players that could be a good fit as well and we are pursuing those opportunities to help grow and expand the business.”

 

“The Tri-State crane acquisition will provide our customers in the region with state-of-the-art equipment and expanded resources,” said Frank Bardonaro, COO for Maxim. “It sends a strong message that we value their business and are committed to serving all of their lifting needs.”