Maxim Crane Works has acquired Poindexter Transportation

Maxim Crane Works has acquired Indianapolis-based Poindexter Transportation, Inc.'s crane services division.

Financial terms of the transaction were not disclosed.

Maxim CEO Bryan Carlisle says the acquisition is a strategic move designed to expand Maxim's existing Indiana operations and facilitate continued growth in the region.

"Acquiring Poindexter's crane services division will help further strengthen our foothold in the Midwest," he says. "The addition of high-quality resources and equipment to our current operations will improve our ability to serve existing customers and strengthen our ability to attract new ones."

Poindexter's crane services division was established in 1993 and has one of the newest fleets in Indiana with rough-terrain, all-terrain and hydraulic truck cranes ranging from 22 T to 350 T capacity.

Maxim president of sales and business development Frank G. Bardonaro tells Forkliftaction.com News Maxim will retain Poindexter's product range.

"As for branding, we don't have any plans to make immediate changes to the decals and plan on retaining the reputation and quality that the Poindexter brand has earned over the years," he says.

"Over time, we will merge them into the Maxim Brand while retaining the strong culture and standards that Poindexter has established."

Bardonaro doesn't see any need to close sites, nor reduce the staff headcount. "We will maintain our existing facilities on the west side of town with 'lay-down' yards in the south and east side.

"We do not have any staff redundancies in this deal. The team that is joining us from Poindexter is an important aspect of the purchase and we look forward not only to retaining those who join Maxim, but also in adding even more people to the region."

Ron Frick, vice president of Poindexter Crane and Transport, Inc, noted "a great working relationship" between the two companies spanning 25 years.

"We believe that Maxim offers our crane services professionals the best opportunities for long-term growth and success."

Bardonaro sees the deal as beneficial to the Poindexter Crane team, the Maxim team and especially their customers.

"The additional fleet and geographic footprint that Maxim offers will ensure that the customers from thePoindexter team will have a 'one-stop-shop' for all of their cranes and rigging services throughout the entire country. This will certainly add value to (Crane division head) Jason Cox and his ability to deliver unmatched services to his customers.

"In addition to providing unlimited resources to the Poindexter side of the team, the additional fleet that they bring to the deal as well as the expertise and experience of their team will ensure that all of the existing and new Maxim customers will receive unmatched service, safety and expertise throughout the region."

Maxim is a portfolio company of Platinum Equity.