Coast Crane acquires SI Equipment Services

Seattle, US-based Coast Crane closed a deal to purchase SI Equipment Services, based in California. SI Equipment Services previously operated as a wholly owned subsidiary of Swinerton, Inc., one of the largest contractors in California.

SI Equipment Services is a good match for Coast Crane's plan to grow its reach in California, according to Larry Zaback, Coast Crane chief operating officer.

SI Equipment had the same business model as Coast Crane, he said, and a very strong product support and sales group. “We shared the same synergies, and they were distributors for Manitowoc Potain self-erecting tower cranes in California and we are the distributors for Manitowoc Potain self-erecting towers in Alaska, British Columbia, Washington and Oregon,” said Zaback. “It was a very good fit.”

The acquisition brings the number of Coast Crane locations to 14, although Zaback said the company will add locations as opportunities become available. “We are not going to stop at 14,” he explained. “We are a very strong company and we like our position right now. We are always looking for opportunities to grow through acquisitions. We've earmarked different locations with the idea of opening a branch a year through 2010.”

Some 80% of SI Equipment's employees have been retained by Coast Crane, including Rick Rios who will manage the new branch, and Jon Tierney, who will manage Coast Cranes' California operations for tower cranes and aerial work platforms.

Owned by a private equity group, Coast Crane is for sale, Zaback said, but that doesn't change the company's business plan or plans for expansion.