April 28 - NCSG Crane & Heavy Haul Holdings has signed a stock purchase agreement to buy 100 percent of the outstanding shares of B&G Crane Holdings.
NCSG buys the Louisiana-headquartered crane services company from previous majority shareholder The Sterling Group.
The B&G management team, which includes Gawain Grilletta, Rich Haggard, Trip Grilletta and Xavier Grilletta, will continue to run the business on a day-to-day basis and will all become shareholders of NCSG.
"We believe that the combination of B&G and NCSG is a significantly more diversified business that will allow us to get better overall asset utilisation as we can share our project and maintenance cranes across a more diverse set of end markets," said Ted Redmond, president of NCSG.
Gawain Grilletta, vice president operations for B&G, added: "With access to NCSG's team of 800 employees and fleet of over 295 cranes, 259 lines of hydraulic platform trailers/SPMTs, 400+ conventional trailers and specialised rigging equipment, we will be able to take on even larger maintenance jobs and projects and meet even more of our customers' needs."
