According to a press release, Apollo Global Management LLC, a large private investment group, says it has agreed to buy AmQuip Crane Rental and Maxim Crane Works. Maxim Crane Works is headquartered in Bridgeville, Pennsylvania, and AmQuip is located in Trevose, Pennsylvania.
Apollo plans to merge AmQuip and Maxim into a single firm with 1,950 construction cranes for rent in 31 locations across the U.S. and Canada.
The new joint company's CEO will be Maxim's Bryan Carlisle in Pittsburgh. AmQuip CEO Albert Bove will stay on to run the Trevose operation for now and "play a senior role in the integration."
Maxim is currently owned by Platinum Equity and AmQuip is owned by Clearlake Capital Group.