Essex sale complete
By Euan Youdale04 November 2008
Private equity company Kirtland Capital Partners has completed the sale of Essex Crane Rental Corp. to Hyde Park Acquisition Company for US$210 million.
Hyde Park has changed its name to Essex Crane Rental Corp. and will trade on the NASDAQ capital markets. Kirtland entered into an agreement to sell Essex to Hyde Park in March 2008. Completion of the transaction was subject to stockholder and regulatory approvals.
Essex is a leading provider of lattice-boom crawler cranes and rental services in the US.
"Our affiliation with Kirtland Capital has been an important part of our success over the past eight years. Their support of our management team and understanding of our business and industry, along with their expertise in the areas of finance and operations, served a vital role in the growth of our company. We are proud to have been associated with this fine firm and look forward to continuing the relationships we formed during their ownership," said Ron Schad, Essex president and CEO.