AmQuip Corporation Acquires Shaughnessy Crane Services from NES Rentals
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Acquisition expands AmQuip's footprint in New England
PHILADELPHIA and BOSTON - March 15, 2007 - AmQuip Corporation today announced that it has acquired Shaughnessy Crane Services, a leading crane rental provider in the New England region, from NES Rentals Holdings, Inc. Shaughnessy/AmQuip will offer the most complete line of crane types in the New England region, including rough terrain, all terrain, crawler and tower cranes, ranging from six to 600 ton capacity. The Shaughnessy/AmQuip division will remain headquartered in its current Boston location
"Shaughnessy Crane is one of the most established and respected names in the crane rental industry," said Frank G. Bardonaro, general manager of AmQuip Corporation. "The combination of AmQuip Corporation and Shaughnessy Crane will provide the most modern, safe and state-of-the-art line of crane rental equipment in the New England region."
Joseph L. Wesley, owner of AmQuip Corporation, added, "Shaughnessy Crane and the Shaughnessy family have been leaders in our industry for generations. All of us at AmQuip are honored to welcome this incredible organization, comprised of the best operators and crane professionals in the New England region."
"AmQuip and Shaughnessy are a perfect match, and this combination creates a one-stop shop for our New England customers," said Harry "Spunk" Milligan, vice president of Shaughnessy/AmQuip. "We can now offer our customers a local team of crane experts and locally-based "taxi cranes," as well as rough terrain, crawler and tower cranes throughout the region."
Michael A. Carrazza, Managing Director of Bard Capital Group, acted as advisor to AmQuip in the transaction. Bard Capital Group is also assisting AmQuip with the operational integration of Shaughnessy. Louis M. Rappaport of Blank Rome LLP provided legal counsel to AmQuip on the transaction.
About AmQuip Corporation
AmQuip Corporation is the leading provider of crane rentals and related services in the U.S. with dominant presence in the Eastern and Southeastern regions. AmQuip offers manned and bare rentals of every type of crane including crawler, tower, rough terrain and truck cranes, with lifting capacity exceeding 600 tons. The Company is headquartered in Bensalem, PA and operates from ten locations in eight states. AmQuip serves customers in every segment including infrastructure, petrochemical, commercial construction and industrial plant maintenance.
Media Contact:
Renee Rossi,
Phone: 212-445-8141,
rrossi@webershandwick.com
