Maxim Crane Works has acquired the crane services division of Poindexter Transportation, Inc., in Indiana, USA, for an undisclosed sum.
Indianapolis-based Poindexter Crane Services will increase Maxim’s presence in the Midwest, said Bryan Carlisle, Maxim CEO. “Acquiring Poindexter’s crane services division will help further strengthen our foothold in the Midwest,” said Carlisle. “The addition of high-quality resources and equipment to our current operations will improve our ability to serve existing customers and strengthen our ability to attract new ones.”
Poindexter’s crane services division was established in 1993 and, Maxim said, has one of the newest fleets in Indiana, including rough terrain, all terrain and hydraulic truck cranes to 350 US tons capacity.
“We have known the Maxim team for over 25 years and we have always had a great working relationship,” said Ron Frick, Poindexter Crane and Transport vice president. “We believe that Maxim offers our crane services professionals the best opportunities for long-term growth and success.”
Frank Bardonaro, Maxim president of sales and business development, said that acquiring Poindexter crane services will be good for Maxim customers. “The Poindexter crane services acquisition will provide our customers in the region with more state-of-the-art equipment and expanded resources.”
Maxim is owned by Platinum Equity which is looking for further acquisition targets, according to Louis Samson, Platinum Equity partner who led the acquisition of Maxim in 2008, “The Poindexter acquisition is a smart strategic move that adds more young assets to Maxim’s fleet and seamlessly integrates into the company’s existing footprint. We know there are many other regional players that could be a good fit as well and we are pursuing those opportunities to help grow and expand the business."