BETHESDA, Md. & EVANSTON, Ill .– (BUSINESS WIRE) – Rotunda Capital Partners (“Rotunda”), an operational private equity firm, has partnered with the management teams of American Equipment, Pacific Crane & Hoist and Allied Crane to create the largest independent provider of overhead crane and hoist solutions Form and Services in the Western United States The Combined Company will operate as American Equipment Holdings (the “Company”) with 14 strategic locations in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Utah and Wyoming.
American Equipment President and CEO Adam Zimmerman will retain a significant equity stake in the company and lead the combined business. Michael Perera will also retain an interest and continue to provide complex and sophisticated overhead crane and hoist solutions to customers in a variety of end markets across North America. Dave Costa will continue to serve as a special advisor to the company and its customers.
“Rotunda has been looking to invest in material handling sales and service for some time,” said Ryan Aprill, Rotunda’s vice president. “The combination of American Equipment with Pacific Crane & Hoist and Allied Crane brings together more than 100 years of collective industry experience and creates the leading consolidation platform in the highly fragmented North American market for overhead traveling cranes and hoists.”
“This is an incredible opportunity for American Equipment. From our first meeting, it was clear that Rotunda shared similar views about the foundation we were creating and what our company could achieve, ”said Adam Zimmerman, President and CEO of American Equipment. “This partnership will not change our culture and world-class customer experience that we are known for, but we will gain the expertise and capital to grow in a market with significant opportunities.”
“This transaction continues Rotunda’s foundation of acquiring family-owned and founder-owned companies and working with strong management teams,” said Corey Whisner, partner at Rotunda. “We look forward to working with management to leverage the combined company’s geographic footprint and extensive solution capabilities to expand its existing value proposition while accelerating expansion into new regions and markets.”
“Over the past half century, the American Equipment team has built a leading regional equipment and service business and is well positioned for significant future growth,” said Dan Lipson, partner at Rotunda. “In addition to supporting the acquisitions of Pacific Crane & Hoist and Allied Crane, we are determined to support the company in building a nationwide business through organic growth and additional acquisitions.”
“The combination of the advanced and sophisticated system capabilities of Pacific Crane & Hoist with American Equipment and Allied Crane is truly unique and will allow us to complete any overhead crane and hoist project or service requirement in-house,” said Michael Perera, Founder of Pacific crane & hoist.
“I am very proud to know that the company I have built over the past 45 years and our employees will be joining an organization led by Rotunda and the most experienced overhead crane and hoist executives in the industry,” said Dave Costa, founder of Allied Crane.
About American Equipment Holdings
American Equipment Holdings is home to a number of leading overhead crane and hoist dealers and service providers, including American Equipment, Pacific Crane & Hoist, and Allied Crane. The consolidated company is one of the largest independent bridge crane and hoist solution providers in the country, serving over 2,000 customers in 14 strategic locations in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Utah and Wyoming. Together, American Equipment Holdings provides comprehensive solutions for everything customer needs for overhead traveling cranes and hoists, including new and replacement equipment, ISO certified manufacturing, automated systems, system modernizations, replacement parts, inspections (including OHSA and Cal-OSHA), preventive Maintenance and repair services and training.
American Equipment Holdings represents the leading manufacturers in the industry such as Detroit Hoist, Columbus McKinnon, ACCO, R&M, Demag, Gorbel, Spanco, IMS, Harrington, Conductix, Magnetek & PE u capabilities to meet their unique application needs. American Equipment Holdings serves local, regional, and national customers in a variety of end markets, including but not limited to light and heavy industry, automotive, mining, public utilities, military, aerospace, and defense and energy. More information is available at www.americanequipmentholdings.com.
About American equipment
American Equipment, based in Salt Lake City, UT, provides customers with a one-stop-shop solution for all of their overhead crane and hoist needs, including new equipment design, design and manufacture, system modernization, installation, inspection, maintenance, and repair Training services. More information is available at www.amquipinc.com.
About Pacific Crane & Hoist
Pacific Crane & Hoist was founded in 2007 by former Demag Cranes manager and licensed engineer Michael Perera and is North America’s market leader in high-tech and automated crane systems and a leader in the maintenance, inspection and repair market in Southern California. More information is available at www.pacificcranehoist.com.
About Allied Crane
Founded in 1976 by Dave Costa, Allied Crane is the leading regional provider of complete, end-to-end solutions for overhead traveling cranes and hoists in the Northern California market. More information is available at www.alliedcrane.us.
About Rotunda Capital Partners
Rotunda Capital Partners is a private equity firm that invests equity in established mid-market companies. Rotunda is working with management to build data-driven growth platforms in its target sectors, including value-added distribution, asset-light logistics and industrial / business services. Founded in 2009, the company has long been helping management teams achieve their growth goals. The Rotunda team actively offers advice and draws on deep industry and financial relationships in order to contribute to the successful implementation of the strategic plans of the Rotunda companies. The company has offices in Bethesda, MD and Evanston, IL. More information is available at www.rotundacapital.com.