Platinum Equity Completes Sale of Maxim

Aug. 1, 2016 - Saying the company was proud of Maxim Crane Works' growth and evolution under its ownership, Platinum Equity Partner Louis Samson announced the company has completed the sale of Maxim to Apollo Global Management. Financial terms of the transaction were not disclosed.

 

“Today the company is well positioned to continue serving as an industry leader for many years to come,” Samson said of Maxim, whose CEO, Bryan Carlisle, praised Platinum’s support. “Platinum was an exceptional partner that provided the financial and operational resources we needed to execute our strategic plans,” said Mr. Carlisle. “We appreciate all of their contributions and are excited about the future as we transition to new ownership.”

 

Platinum Equity’s M&A and operations teams worked closely with Maxim over the years to improve fundamental business operations, modernize and diversify the company’s fleet, and expand its geographic reach. Maxim acquired Crane Rental Corp. and Poindexter Crane Services in May 2015. Goldman, Sachs & Co. served as financial advisor to Platinum Equity and Latham & Watkins LLP served as Platinum Equity’s legal advisor.