Maxim Crane Works Acquires Cincinnati, OH-Based Tri-State Crane Rental

Maxim Crane Works announced today it has acquired the assets of
Cincinnati-based Tri-State Crane. Financial terms of the transaction
were not disclosed.

Maxim CEO Bryan Carlisle said the acquisition is a strategic move
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. They have
an excellent fleet mix to service the customer base they have developed
within the region. Their full-service capabilities, which include
hauling, storage, rigging and specialized lifting solutions have made
Tri-State a leader in the region and 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 nation-wide 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.”

About Maxim Crane Works

Founded in 1937, Maxim is one of the largest lifting solutions
businesses in North America. Maxim, with its affiliated companies,
serves more than 6,000 customers through its fleet of over 2,500 cranes
situated in 50 branches. Maxim’s full suite of lift solutions include
operated and maintained cranes, bare rental cranes, heavy haul/rigging
services, and value-added advisory services. Maxim offers a full
portfolio of cranes used in a variety of end markets. For more
information about Maxim, please visit http://www.maximcrane.com/

View source version on businesswire.com: https://www.businesswire.com/news/home/20180710005903/en/

Leave a Comment