09.02.2017

Summit Tower acquisition completed

Its official! Australian Crane and Machinery has acquired truck mounted lift rental company Summit Tower Hire and will merge it into its operations.

The sale of Summit has rumoured for some time but confirming the exact details has been a struggle and at times it looked as though the deal might not actually go through. But it seems the deal was agreed in principle in the third week of January and has now been completed.

The deal is an asset based transaction, the details of which have not been revealed, the Summit fleet will be incorporated into Australian Crane and Machinery subsidiary ACM Towers which says that some key personnel have received offers of re-employment. Summit chief executive
Marco Peters is also staying with the company.

Australian Crane and Machinery claims to be the largest privately owned Australian manufacturer and distributor of crane and powered access equipment in Oceania. It operates depots in every state across Australia as well as Papua New Guinea and New Zealand. ACM is also a major Kobelco crane dealer. It also produces specialists truck mounted booms, including insulated models, along with road rail platforms.

Summit Tower Hire was established in Pinkenba, Queensland in 2010 to offer truck mounted lift rental and soon developed a market in the emerging Wind Turbine industry. It operates at least six truck mounts of 70 metres or more, mostly Bronto topped by the 101 metre S101-HLA it also has a ACM towers in the fleet.