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Barnhart to Purchase Steel City Crane
Barnhart and Steel City Crane have reached a definitive agreement under which Barnhart will purchase the assets of Steel City.
For more than 50 years, Steel City Crane has offered operated crane service to industrial clients in the Southeastern United States with offices in Alabama and Mississippi. Currently, Barnhart has 25 branches nationwide and an equipment inventory that includes electronic steer Goldhofer trailers, cranes to 1,760 tons, sliding systems, strand jacks, and the Modular Lift Tower system.
The purchase will expand Barnhart's ability to serve heavy industrial customers in the coastal regions of Alabama and Mississippi. Steel City's crane inventory will be maintained and managed by Barnhart's branch in Mobile, Ala. Arlington Capital Advisors counseled and assisted Steel City in the acquisition process.
"Steel City is a great company with a strong history. This move is a very positive change for everyone involved," says Alan Barnhart, CEO of Barnhart. "For years Steel City has built a good reputation by providing lifting solutions to heavy industrial customers such as process plants, refineries, and power plants – especially during outages and shutdowns. This acquisition will allow Barnhart to continue to serve those same customers while offering a broader range of services that should help customers lower a project's overall costs. We think our industrial customers along the Gulf Coast Region will be very pleased with the expansion of services this acquisition allows."
|Last Updated on Wednesday, 27 March 2013 01:13|