Apollo Global Management LLC (NYSE: APO) has acquired AmQuip Crane Rental LLC from Clearlake Capital Group LP and Maxim Crane Works LP from Platinum Equity. Apollo’s new combined crane rental company will keep the CEOs from the two businesses, as well as the AmQuip and Maxim names.
The combined company will have more than 1,950 cranes serving customers in North America. Maxim CEO Bryan Carlisle will serve as CEO of the combined business, with AmQuip’s CEO, Al Bove, running AmQuip’s operations and serving on the combined company’s leadership team. AmQuip, based in Trevose, Pennsylvania, has 13 branches, with more than 6,600 customers in 35 states in refinery, petrochemical, industrial, non-residential construction and other sectors. The company has more than 550 cranes, with lifting capacities ranging from six to 716 tons. AmQuip, founded in 1967, was acquired by Clearlake in 2014. Maxim, based in Santa Monica, California, founded in 1966, has more than 1,400 cranes and 31 branches in the U.S. with more than 7,500 cranes.