A 90% stake in Australian crane company LCR Lindores has been acquired by Champ Private Equity.
The value of the sale to Sydney-based Champ was undisclosed. LCR Lindores has annual revenue around AUD$120 million (US$100 million), largely from mining and infrastructure. The remaining 10% is held by an LCR Lindores management team, which includes Col Partington, chief executive officer.
Champ plans to grow LCR Lindores over the next three to five years, according to local news reports.
Brothers Peter, Greg and Edward Lindores Set up LCR Lindores in 1985. The company runs tower and mobile telescopic cranes for rental.