A recent AmQuip purchase was a 650 tonne capacity Terex Superlift 3800 lattice boom crawler crane

A recent AmQuip purchase was a 650 tonne capacity Terex Superlift 3800 lattice boom crawler crane

Clearlake Capital Group, L.P. has completed its acquisition of AmQuip Holdings in the USA from a consortium of investors including Altpoint Capital Partners LLC. AmQuip is a leading provider of manned and bare rental cranes and related lifting solutions to the North American energy, industrial, construction and related markets. Financial terms of the transaction were not disclosed.

“We are excited to partner with Clearlake, which boasts a successful track record of backing, supporting and growing companies that provide services to the energy and industrial end markets,” said Albert Bove, AmQuip CEO.

“Clearlake’s operational expertise and financial resources will help solidify AmQuip’s position as a leading North American lifting solutions provider,” Bove continued.

José E. Feliciano, founding partner, Clearlake Capital Group, said, “AmQuip’s strong focus on safety, customer service, and attracting, developing, and retaining skilled employees has positioned it as a leader in the crane rental space. We are excited to partner with the company’s outstanding executive and professional team to grow AmQuip as a platform for industry consolidation, both organically and through acquisitions.”

In addition to Bove and Feliciano, Arta Tabaee and Colin Leonard of Clearlake will join the AmQuip board of directors.

Clearlake’s acquisition of AmQuip was supported by a financing consortium led by Wells Fargo Capital Finance as administrative agent and joint lead arranger, PNC Bank, N.A. and CIT Bank as joint lead arrangers, and Capital One. AmQuip and the selling shareholder group were advised by Oppenheimer & Co. Inc. as lead financial advisor and by RBC Capital Markets.

AmQuip owns some 500 cranes with lifting capacities ranging from six to 716 US tons (650 metric tons). The company markets itself as a “one-stop solution through the provision of value added operator and maintenance services, extensive consultation services, and complete setup and logistics support.”

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