Maxim Crane Works LP and Essex Rental Corp. have successfully completed the acquisition by Maxim of Coast Crane Co., an indirect subsidiary of Essex. Founded in 1970 and based in Seattle, Coast is one of the largest providers of bare crane rental and related lift solutions servicing the West Coast of the U.S. Maxim’s acquisition of Coast meaningfully enhances Maxim’s full-service, nationwide crane rental and lifting solutions platform and expands its operations in one of the nation’s fastest-growing crane rental markets.
The transaction, previously announced April 20, was approved by the stockholders of Essex at a special meeting held June 5. The acquisition was funded with the proceeds of an offering of Second-Priority Senior Secured Notes due 2024 issued by an affiliate of Maxim.
For more information, visit www.maximcrane.com or call(412) 504-0199.