9 minute read
MANITOWOC TO ACQUIRE CRANE BUSINESS OF H&E EQUIPMENT
Pittsburgh, PA (412) 747-7777 Lancaster, PA (717) 569-4531 Hubbard, OH (330) 534-0082 Cincinnati, OH (513) 874-4880
New & Used Trailer Sales • Rental / Leasing • Financing • Service • Parts
Daily RENTALS & Long-Term LEASING! (412) 747-7777
• 140 — 2015 Reitnouer 48'x102"
Maxmiser Flatbeds
(In Stock) $25,950
MECHANICAL DETACHABLES MECHANICAL DETACHABLES
2016 XL Specialized 35-Ton, 29’ in Well.
2012 Trail King 35-Ton, 29’ in Well. (Pictured) Unit # 4644
Unit # 4641 Qty 4 - New Eager Beaver Pavers, 35 GSL-PT Hydraulic Detachable Lowboys, 35-Ton, 24’ Deck, Air Ride.
Qty 1 - New 35 GSL-BR, 35-Ton, 24’ Deck, Beaver Tail.
FONTAINE DOUBLE DROP EXTENDABLES
2014 Fontaine LXTN-Extendable 29’-50’ in Well, 2014 Fontaine Flip Axle. Unit #’s 4451 & 4452
Qty 1 – New XL Specialized 45-Ton, Single Drop Stretch, 30” Deck Height, Deck 42’ Closed/65’4” Open. Qty 2 – New Fontaine LXT-40, 53’-74’x102”, 34’ Well - Closed, 60’ Well - Open, 40-Ton, Mechanical Detach. (Pictured) Qty 1 – New Fontaine LXTN-40, 50’-71’x102”, 29’ Well - Closed, 50’ Well - Open, 40-Ton, Hydraulic Detach. Qty 1 – New Fontaine 55MXT, 55’-76’x102”, 29’ Well – Closed, 50’ Well - Open, 55-Ton, Hydraulic Detach.
ALL Tri-State Locations
Spec’s/ Features:
• 48’x102” • Front Axle Lift • Aluminum Wheels • LP22.5 Tires • Winch Track on Both Sides of the Trailer
•
System
ONLY 9,300lbs +/-
*XL SPECIALIZED *XL SPECIALIZED MINI-DECKS*
Qty 4 – New 53’x102” 40-Ton Minideck, Hydraulic Classic Neck, 33’7” Clear Deck, 12” Loaded Deck Height, Accepts Both Flip Box and Flip Axle, Both Narrow Neck (Pictured) and Full Width Necks Available.
Qty 2 – New 53’x102” 25-Ton LOW CAMBER Minidecks, Hydraulic Classic Neck with Full Width Top Deck, 33’7” Clear Deck, 12” Loaded Deck Height, Pony Motor, Accepts Flip Axle.
MATCHED GROUP MATCHED GROUP
Qty 14 - 2018 & 2019 Fontaine 48’x102” Steel Flats, Spring Slider, Winch Track.
Unit #’s 4625-4638
2019 Manac Extendable 48’-80’x102”. Unit # 4411 We Have Flip Axles & Flip Boxes
2013 Sunbelt Pole Trailer, 48’/65’x102”, S/R. Unit# 4031 2018 Fontaine Magnitude 55L Plus, 26’ in the Well, 18” Deck Height. Unit # 4234 2013 Entyre 55-Ton Paver, 24’ in the Well. (Not Pictured) Unit # 4536 2014 Talbert 51-Ton, 25’ in Well. (Not Pictured) Unit # 4502
2017 Talbert 55-Ton, 25’6” in Well. (Not Pictured) Unit # 4609
2012 Trail King 55-Ton, 26’ in Well w/2020 Trail King Flip Axle. (Not Pictured) Unit #’s 4605 & 4606 55-Ton 15” Deck Height
Qty 8 – New XL Specialized 55-Ton Hydraulic Detachable Lowboys, 15” Deck Height, 26’ Deck, Rear Lift Axle, Available w/Both Standard and Hydraulic Flip Axles. Red, Black and Galvanized in Stock.
NEW MANAC S-T-R-E-T-C-H FLATBEDS
Qty 6 – New Fontaine Workhorse 55LCC, 18” Deck Height, 26’ Well, o/s Alum Wheels, Rear Lift Axle, Some w/ Wheel Covers.
Qty 1 – New Fontaine Magnitude 55-Ton Drop Side Rail, Rear Lift Axle, o/s Alum Wheels. Qty 1 – New Fontaine Magnitude 60LCC, 18” Deck Height, 26’ Well, o/s Alum Wheels, Front Ramps, Rear Lift Axle. Qty 1 – New Fontaine EQI Hydraulic Spreader. Qty 1 – New Fontaine Magnitude 60-Ton Beam Trailer, 28’ Beam, Modular Connection at Rear. Qty 1 – New Fontaine 55-Ton Paver, 24’ Well. EAGER BEAVER TAGS
Qty 6 – New 20XPT, 20-Ton, 21’ Flat Deck, Air Brakes with Spring Ramps (Qty 2 – with Hydraulic Ramps). Qty 1 – New 25XPL, 25-Ton with Hydraulic Ramps. Qty 7 - 48’-80’x102”, Air Slider & Spring Slider.
All with Winch Track and Galvanized Winches.
The Manitowoc Company Inc., a global manufacturer of cranes and lifting solutions, announced that it has entered into a definitive agreement to acquire the crane business of H&E Equipment Services Inc., one of the largest rental equipment companies in the United States.
The wholly owned Manitowoc subsidiary will be called “MGX Equipment Services LLC.”
“We believe this acquisition will allow us to better understand and respond to the market needs, and to more effectively deliver solutions that positively support the customers’ business,” said Ion Warner, VP, marketing and investor relations, Manitowoc.
“For Manitowoc, there is also the benefit of a recurring revenue stream in aftermarket services, new & used equipment sales, in addition to rentals [bare rental]. With this new business, we plan to continue improving these services by investing in bestin-class sales and technical support in the assigned territories."
Under the terms of the agreement, Manitowoc is expected to pay approximately $130 million funded by a combination of cash on hand and existing debt availability. The transaction is expected to close in the fourth quarter of 2021 and is subject to customary closing conditions and regulatory approvals.
The acquisition of H&E’s crane business will expand Manitowoc’s ability to provide rentals, new sales, used sales, aftermarket parts and service to a variety of end market customers. H&E’s crane business operates with 11 full-service branch locations.
“Over the past few quarters, we have communicated that our intent is to grow through four strategic priorities, one of which is acquisitions focused on aftermarket. The purchase of H&E’s crane business is the next step in our journey to grow the less cyclical part of our business. H&E has a long history and excellent reputation for serving the lifting industry, and we look forward to welcoming the H&E crane team to Manitowoc,” said Aaron H. Ravenscroft, president and chief executive officer of The Manitowoc Company Inc.
Brad Barber, chief executive officer of H&E Equipment Services Inc. said, “H&E has become one of the largest rental equipment companies in the U.S. by maintaining a commitment to growth. The sale of our crane business to Manitowoc represents a transformative event in H&E’s continued efforts to increase its focus in the equipment rental business, while positioning us for future growth opportunities.
Manitowoc will acquire 11 full-service crane facilities and operations in nine states and will continue to provide product support in the customers' local markets. These locations are: • Norfolk, Va. • Baltimore, Md. • Winston Salem, N.C. • Birmingham, Ala. • Baton Rouge, La. • Belle Chasse, La. • Houston, Texas • Dallas, Texas • Nashville, Tenn. • Phoenix, Ariz. • Salt Lake City, Utah
While H&E's crane business is transitioning with the acquisition, the day-to-day relationships will not change. The new distribution organization will be led by Cary Burr, H&E’s current SVP of Cranes. Burr will report directly to Les Middleton, EVP Mobile Cranes.
“Initially acquisition will help make Manitowoc a stronger and more agile company, even during cyclical downturns, which is a positive for all of us,” Warner said.
For more information, visit www.manitowoc.com.
The acquisition of H&E’s crane business will expand Manitowoc’s ability to provide rentals, new sales, used sales, aftermarket parts and service to a variety of end market customers.
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