Essex completes Coast crane acquisition

Essex completes Coast crane acquisition

US based Essex crane has completed the acquisition of Coast Crane and will operate it as a seperate business – Coast Crane Company.

As already reported the Coast Crane business will continue to be managed by Dan Goodale and his team.

Essex paid around $80 million for Coast's assets, approximately $48 million of which is being financed by a new $75 million, four year, interest only, non-amortizing senior credit facility. Essex also assumed $12 million Coast crane’s debt.