11.07.2018

Maxim acquires in Ohio

US rental company Maxim Crane Works has acquired the assets of Cincinnati, Ohio, based Tri-State Crane from owners Kathy and Paul Pitzer. Financial terms of the transaction have not been disclosed.

Tri-State Crane was established by the Pitzer’s in 1997 and runs a fleet of truck, All Terrain, Rough Terrain, boom truck and crawler cranes ranging from a 25 tonne National Crane boom truck, to a 300 tonne Grove GMK 6300 All Terrain crane.
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One of Tri-State's big Grove All Terrains

Maxim chief executive Bryan Carlisle said: “The acquisition is a strategic move designed to expand our existing tri-state area operations and facilitate continued growth in the region. Kathy and Paul have built a great company with an outstanding reputation. 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."

Paul Pitzer added: "We have known the Maxim team for over 35 years and have always had a great working relationship. 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.”

Ed Peng, Principal AT Apollo Global Management and A Maxim Crane Director said: “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. 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.”