09.10.2006

Northern Crane bought by private equity firm for $60 million

Private equity firm Northwest Capital Appreciation Inc. has bought Northern Crane Services of Edmonton, Alberta for about $60 million (£32 million).
Seattle-based Northwest Capital said the majority of the funds to buy the crane company came from Canadian institutional investors.

Northern Crane, founded in 1987, has more than 75 mobile cranes used in the oil and gas exploration and production industry in Fort McMurray and Edmonton, Alberta.

NCSG