NZ Crane Hire buys Collins Cranes, 3 August 2006
Auckland, 3 August, 2006. AMP Pencarrow backed New Zealand Crane Hire has purchased Wellington crane company Collins Cranes Ltd. An agreement was reached with the shareholders to buy Collins Cranes which will become the Wellington branch of NZ Crane Hire.
The purchase establishes NZ Crane Hire in the Wellington region where it plans to use the acquisition as a base to grow the company into the premier nationwide lifting and access solution provider.
Collins Cranes has been in business for over 20 years operating cranes up to 100 tonne capacity. General Manager Chris Collins will remain as the Wellington Regional Manager for NZ Crane Hire.
NZ Crane Hire Group Chief Executive Officer Deane Manley said he was very pleased with the purchase that has been negotiated over the recent months.
“We believe Collins Cranes is the market leader in the Wellington region and plan to use our existing Wellington Access Hire and Tower Crane operations to leverage this position even further. NZ Crane Hire will offer the broadest range of lifting options in the region.”
The purchase of Collins is a continuation of the “roll-up” plan for the company following an equity investment from the AMP Pencarrow fund announced in December 2005. The acquisition of Collins follows the previous announced acquisition of Bay Of Plenty crane company Todd & Pollock in February.
About New Zealand Crane Hire
New Zealand Crane Hire is New Zealand’s leading crane company servicing customers throughout the North Island. It has been in operation since 1999.
The company undertakes a diverse range of lifting projects for a wide range of clients including all the major construction companies. It offers equipment ranging from 1.5 to 220 tonne mobile cranes and specialist cranes including self-erecting tower cranes and ‘city’ cranes. Subsidiary New Zealand Access Hire provides elevated work platforms, Z-boom and S-boom lifts.
New Zealand Crane Hire’s company values are health and safety, reliability and learning. www.cranehire.co.nz
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