Predict your next investment

INDUSTRIAL | Machinery & Equipment
absolutecrane.com

See what CB Insights has to offer

Stage

Acquired | Acquired

About Absolute Crane

Absolute Crane is a provider of overhead crane services and equipment.

Absolute Crane Headquarter Location

12802 Farm to Market Rd 529

Houston, Texas, 77041,

United States

281-970-3131

Latest Absolute Crane News

PE-backed Crane 1 Services buys Absolute Crane

Jul 31, 2018

PE-backed Crane 1 Services buys Absolute Crane July 31, 2018 PRESS RELEASE Pfingsten announces that its portfolio company, Crane 1 Services, has acquired Absolute Crane Service, Inc. (“Absolute Crane”), a provider of overhead crane services and equipment. Headquartered in Houston, Texas, Absolute Crane offers a broad portfolio of critical services including inspections, maintenance, repair, design and installation of new and refurbished equipment and parts for overhead cranes. “We are thrilled to add Absolute Crane to the Crane 1 family as it represents our first entrance into the rapidly growing Texas market,” said Bob Vevoda, President and CEO of Crane 1. “We plan to leverage the principles of high quality service, rapid response and integrity that have made Absolute Crane so successful to date and continue our aggressive expansion throughout Texas and the Gulf Coast.” This is Crane 1’s second strategic acquisition since Pfingsten became the majority shareholder in October 2015. The transaction is part of Pfingsten’s strategy to create a leading national, independent technical field service company focused on the overhead crane industry. Crane 1 currently offers a comprehensive portfolio of products and services including, inspections, maintenance, repair, design and installation of new and refurbished overhead cranes and parts. “The acquisition of Absolute Crane is an integral piece in our strategy to create a national service organization focused on providing operational uptime, regulatory compliance and a better customer experience,” said Scott Finegan, Managing Director at Pfingsten. “We will continue to focus on strategic add-on acquisitions that bolster Crane 1’s service capabilities and geographic coverage for its customers.” The transaction closed on July 20, 2018. To learn more about Crane 1 and Absolute Crane, visit www.crane1.com or www.absolutecrane.com. About Pfingsten Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, IL and representative offices in ChangAn, China, New Delhi, India and Chennai, India, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 124 manufacturing, distribution and business services companies. For more information, visit pfingsten.com.

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.