Energy Cranes International acquires Dynamic Cranes
18 April 2008
Offshore lifting services contractor Energy Cranes International has acquired the assets of Dynamic Cranes of Abbeville, LA, giving the company a 35% share of the Gulf of Mexico market for offshore crane rental. Following the acquisition, ECI's rental fleet will comprise 23 portable offshore pedestal cranes ranging from 2 to 120 ton capacity.
“Energy Cranes is already the largest player in the long-term contract crane rentals market,”said CEO John Jordan. “Dynamic has been the largest player in the spot market. By combining the businesses we introduce efficiencies, expand the fleet and strengthen the offering to the market as whole.”
Wayne “Chomp” Champagne and Dynamic's Horace Frederick will run the newly expanded rentals division as operations manager and technical manager, respectively, reporting to Blue Lege, vice president of US operations. Former Dynamic Cranes president André Franques assumes the post of business development vice president. The deal is supported by Energy Cranes International's majority shareholder, London Merchant Securities.
Energy Cranes International was formed in Aberdeen in 2003, resulting from the merger of Sparrows Offshore with American Aero and Titan Cranes. With some 1,200 employees across six continents, ECI designs, manufactures, operates, maintains, modifies, repairs and replaces cranes on offshore oil and gas drilling rigs and platforms in all the world's major offshore energy-producing provinces.