Verticon sold to D&G Hoist and Crane Hire

D&G Hoist and Crane Hire in Australia has announced its purchase of Verticon's Australian crane and hoist rental division.

"The D&G business from June 1^st becomes one of the largest hoist and tower crane rental companies in the Asia Pacific region and certainly by far Australia's largest tower crane and hoist hire company," said Gino DeCesare, D&G Hoist and Crane Hire managing director.

Included in the AU$12 million (US$ 8.5 million) sale are the Verticon fleet of 160 tower cranes (various brands), 140 passenger and materials hoists, 17 mobile cranes, 70 Preston loading platforms and other equipment. Also transferring are all rental agreements and 280 employees outside the property development division.

Also included are offices and yards in Perth, Melbourne, Sydney and a new one in Brisbane. In Adelaide, Darwin and Singapore there are arrangements with local rental companies.

"This sale now completes the disposal of Verticon's Crane and hoist division. Verticon now looks forward to focusing and growing its property development division and providing value to its shareholders going forward," said Andrew Torrington, Verticon managing director.

D&G was set up in 1998 by Gino DeCesare and David Keating who own it between them 50:50.