Barnhart acquires Powell's crane rental division
By D.Ann Shiffler07 June 2010
Barnhart Crane & Rigging will purchase the crane rental division of Powell Companies, which has locations in Knoxville and Johnson City, TN. Powell's crane rental division has served the Tennessee region for 40 years. The two companies did not disclose the price of the transaction.
Powell's other companies - including its coal and minerals processing engineering/construction, steel erectors services, Decanter Machines, Inc, and Powell Technologies - were not involved in the sale and will continue operating as before. The transaction was completed with little or no job disruption or displacement and will allow Powell to give greater focus and commitment to their core businesses, the company said.
With this agreement, Powell's former crane rental division customers will now be working with Barnhart, a leading crane, heavy rigging and heavy transportation company based in Memphis, TN.
"We feel like this is a win/win for everyone involved," said Alan Barnhart, CEO. "This agreement will give our current customers access to a larger equipment inventory. As for the former customers of Powell's crane division, we are going to work hard to build a relationship with them and earn their business. In the end we think they will be very pleased with multitude of new services and equipment we can provide."