🠈 Maxim Crane Works 🠊
Maxim Crane Works
Maxim Crane Works is a nationwide equipment rental firm offering cranes and rigging.
A few years ago I asked the question: Who owns what? and began creating pages about the merger chains that have come to define American business. These are transactions that I've found regarding Maxim:
Technically, the company began as Anthony Crane. It appears that the driving force behind the rapid acquisition was a private equity firm calle Bain Capital which was behind The Sports Authority and Toys "R" Us.
- 1998: Bain Capital acquired Anthony Crane.
- 1999: Anthony acquired Husky Crane of Stockton, Ca.
- 1999: Anthony acquired Dunn Equipment of Texas City, Tx.
- 1999: Anthony acquired Carlisle Equipment of Wilder, Ky.
- 1999: Anthony acquired AAA Crane of Sacramento, Ca
- 1999: Anthony acquired Capital Crane of Indianapolis, In.
- 2000: Anthony acquired Sacramento Valley Crane Service of Sacramento, Ca.
- 2000: Anthony acquired Kings Crane Services of Cincinnati, Oh.
- 2000: Company changed its name to MAXIM Crane Works.
- 2000: Maxim acquired Coulter Crane Rental of Long Beach, Ca
- 2000: Maxim acquired Linder Crane of Baltimore, Md.
- 2000: Maxim acquired Carolina Crane of Augusta, Ga.
- 2001: Maxim acquired Thompson & Rich Crane of Stockton, Ca.
- 2004: Maxim declared bankruptcy with $700 million in bank and bond debt. (ref)
- 2005: Maxim emerged from bankruptcy with $280 in restructured debt $195m in equity and $475m in assets. (ref). At some point they traded on the open market as MXMC.PK.
- 2008: Platinum Equity purchased outstanding stock of Maxim Crane Works, L.P..
- 2009: Maxim purchased the Marino Crane crawler from Barnhart Crane & Rigging Co..
- 2010: Maxim acquired the crane assets of LJ Crane of Providence, RI.
- 2015: Maxim opend a branch in Williamsport, Pa.
- 2015: Maxim acquired Poindexter Crane Services of Indianapolis, In.
- 2015: Maxim acquired Crane Rental Corporation of Orlando, Fl.
- 2016: Apollo Global Management acquired AmQuip Crane Rental and Maxim Crane Works and merged the companies under the Maxim brand. (reuters)
- 2017: Maxim acquired Coast Crane after the Chapter 11 bankruptcy of Essex Crane for $72 million. Coast had 200 cranes and 11 offices along the West Coast. (ref)
History of Coast Crane
Coast Crane started as a typical equipment rental firm. The owner sold to a private equity firm which passed it to another firm. The company went under during the Great Recession and bounced around between bankruptcy sales.
- 1971: Ralph Hovis founded the company in Portland, Or.
- 2004: Audax Partners with backing by GE Asset Management acquired Coast Crane from the founder.
- 2008: Northwest Capital Appreciation acquired Coast Crane. (ref)
- 2010: Coast Crane filed bankruptcy.
- 2010: Essex acquired the assets of Coast Rental in a bankruptcy sale for $80 million. (businesswire)
- 2016: Essex declared chapter 11 bankruptcy and auctioned off assets.
- 2019: Maxim acquired B&G Crane Service of New Orleans, La.
- 2019: Maxim acquired Shaughnessy & Ahern Crane Co. of Boston, Ma
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