Crane 1 Expands Overhead Crane Service and Manufacturing Platform into Michigan
Crane 1 Services, Inc. purchases assets of Mt. Clemens Crane & Services Company, Inc.
Miamisburg, Ohio – September 17, 2018 - Crane 1 Services, a portfolio company of Pfingsten Partners, LLC has acquired Mt. Clemens Crane & Services Company, Inc. (“MCC”), a manufacturer of overhead crane packages. MCC also provides overhead crane services in the Michigan market. Headquartered in Harrison Township, Michigan, with a service operation in Canton, MI. Mt. Clemens offers a broad portfolio of services including inspections, maintenance, repairs and parts.
“We are extremely excited about this strategic acquisition which provides us with in-house production capabilities with an ISO9001:2008 compliant equipment facility.” said Bob Vevoda, President and CEO of Crane 1. “MCC, along with our other partners will support our field operations with quoting, engineering and supply of new crane equipment solutions. This is in line with the company’s strategic intent to grow our market share and penetrate new geographic markets.”
As a single source supplier, MCC is uniquely positioned to develop customer-specific solutions in house. Their expertise extends through the stages of sales, engineering, crane fabrication and crane installation. In addition, Mt. Clemens Crane & Service Co., Inc. is an ISO 9001:2008 compliant, which further demonstrates their commitment to quality and customer satisfaction.
This is Crane 1’s third strategic acquisition since Pfingsten became the majority shareholder in October 2015. The transaction is part of Pfingsten’s strategy to create a leading national, independent technical field service company focused on the overhead crane and related critical equipment industry. Crane 1 currently offers a comprehensive portfolio of products and services including, inspections, maintenance, repair, design and installation of new and refurbished overhead cranes and parts.
“The Crane1 acquisition levers MCC’s proven and highly standardized new crane and runway system technology to be applied across a much larger market than simply Michigan. It will also provide Crane1 access to Southeastern Michigan’s largest and most proficient crane and hoist field service provider. We are very excited about our future as a new member of the Crane1 team as we explore the synergies and growth potential in the marketplace.”– Charles W. Albright IV, Previous owner of Mt. Clemens Crane and General Manager of New Equipment Operations for Crane 1.
The transaction closed on September 14, 2018. To learn more about Crane 1 and Mt Clemens Crane, visit www.crane1.com or www.mccrane.com.
About Pfingsten Partners, LLC
Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, IL and representative offices in ChangAn, China, New Delhi, India and Chennai, India, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 124 manufacturing, distribution and business services companies. For more information, visit pfingsten.com.
