Crane 1 Services Acquires Assets of D&S Hoist & Crane

Crane 1 Services Acquires Hoist & Crane Systems (Asset Purchase)

April 29, 2022

Industrial Services

Crane 1 Services Inc. purchased the assets of Hoist & Crane Systems, Inc. (H&C) in an add-on acquisition announced April 29, 2022. The asset purchase, sponsored by private equity backer L Squared Capital, expands Crane 1's service footprint into the greater Charlotte / Carolinas market and brings nearly 30 H&C employees and fabrication, inspection and maintenance capabilities into the Crane 1 platform.

Crane 1 Services Acquires Standard Crane & Hoist LLC

August 7, 2024

Industrial Services

Crane 1 Services, a platform backed by L Squared Capital Partners, has acquired Standard Crane & Hoist LLC, a regional provider of overhead crane sales, service, inspection, and repairs with eight locations across Louisiana, Mississippi, and Texas. The add-on will expand Crane 1's service footprint in the southern United States, adding nearly 100 employees and deeper technical capabilities to support geographic and capability growth.

Crane 1 Services Acquires Bridge Crane Specialists and Bridge Crane Express (Tulsa, OK)

October 16, 2024

Industrial Services

Crane 1 Services Inc., a PE-backed overhead-crane MRO and equipment provider, acquired Bridge Crane Specialists, LLC and Bridge Crane Express, LLC — two custom overhead crane design, manufacturing and service businesses in the greater Tulsa, Oklahoma area. The add-on expands Crane 1's custom crane fabrication capabilities and service footprint in the south-central U.S., and is supported by Crane 1's sponsor, L Squared Capital Partners.

L Squared Capital Partners Acquires Crane 1 from Pfingsten

August 17, 2021

Industrial Services

L Squared Capital Partners has acquired Miamisburg, Ohio-based Crane 1, one of the largest U.S. providers of overhead crane MRO services and equipment, from Pfingsten. Crane 1 operates across 15 states with 21 facilities and a large technician workforce, and L Squared intends to continue consolidating the fragmented $3 billion overhead crane services market and build on Crane 1's service and e-commerce capabilities.

Crane 1 Services Acquires Overhead Material Handling, Inc.

May 19, 2021

Industrial Services

Crane 1 Services, a Pfingsten-backed material handling services platform, has acquired Overhead Material Handling, Inc. (OMH), a provider of overhead crane inspection, maintenance, repair, design and installation services based in Oak Creek, Wisconsin. The add-on transaction expands Crane 1's geographic footprint into the Wisconsin service market and closed on May 14, 2021.

Compass Group Equity Partners Acquires Hoist & Crane Service Group

June 28, 2023

Industrial Services

Compass Group Equity Partners has partnered with Hoist & Crane Service Group, making HCSG the fifth platform in Compass Group’s Fund II. Hoist & Crane Service Group is a national provider of inspection, preventative maintenance and repair services for overhead cranes & hoists, industrial elevators, and overhead doors; the company operates 26 locations with 500+ employees and serves over 1,800 customers. Compass Group plans to invest in new locations, people and technology and expand the company’s industrial elevator and overhead door capabilities.