A subsidiary of NCSG Crane & Heavy Haul Corp has completed the previously announced acquisition of B&G Crane Holdings Inc for an undisclosed amount. The seller was U.S. private equity firm The Sterling Group, which acquired B&G, a U.S. supplier of operated and maintained crane services, specialized rigging, and heavy haul transportation, in 2010. Based in Edmonton, NCSG is a crane and heavy haul company founded in 1987. It is owned by an investor group led by Canadian private equity firm TriWest Capital Partners, Alberta Teachers’ Retirement Fund, NCA Partners and NCSG management.
NCSG Crane & Heavy Haul Signs Agreement to Purchase B&G Crane Service
NEW ORLEANS, LOUISIANA–(Marketwired – May 28, 2015) – NCSG Crane & Heavy Haul Corporation (“NCSG”) and its investor group led by TriWest Capital Partners, Alberta Teachers’ Retirement Fund (“ATRF”), NCA Partners (“NCA”), and NCSG management announced today that a wholly owned indirect subsidiary of NCSG, NCSG Crane & Heavy Haul Holdings Inc., has closed the previously announced transaction to purchase 100% of the outstanding shares of B&G Crane Holdings, Inc. (“B&G”).
“We welcome all the B&G employees to the NCSG family and we are very much looking forward to working with the hard working and talented group of B&G employees and management,” said Ted Redmond, President of NCSG, “We also plan to work closely with the many B&G stakeholders including B&G’s loyal customers, suppliers and lenders.”
NCSG was founded in 1987 and is owned by an investor group led by TriWest Capital, ATRF, NCA and management. Over the last 9 years NCSG has completed 12 acquisitions and grown to become one of the largest operated and maintained crane and heavy haul companies in North America.
NCSG, headquartered in Edmonton, Alberta provides rigging, lifting and heavy haul services throughout the North/South Energy Corridor of North America. In the U.S., NCSG now has branches or yards in New Orleans and Baton Rouge, Louisiana; Baytown, Beaumont, El Paso and Odessa, Texas; Soda Springs, Idaho; Great Falls, Billings and Sidney in Montana; Casper, Rock Springs and Gillette in Wyoming; and Gallup, New Mexico
NCSG has an experienced team of over 1000 employees, a diverse fleet of 400 cranes, carry decks and picker trucks, ranging in size from 8 to 1350 tons as well as a highly specialized heavy haul tractor and trailer fleet of over 450 units supplemented by 296 lines of platform trailers / SPMTs. NCSG services the refining, petrochemical, mid-stream oil & gas, oil sands, upstream oil & gas, LNG, mining, infrastructure, commercial and wind/utility industries. For more information about NCSG or this transaction contact Ted Redmond, NCSG CEO, at 780-993-7607 or visit www.ncsg.com.
About TriWest Capital Partners
Founded in 1998 TriWest is one of Canada’s leading private equity firms having raised over $1.25 billion in committed capital through five funds and have invested in 32 companies to date. We are entrepreneurial, independent and based in Western Canada. For more information about TriWest contact Cody Church at (403) 817-9487 or visit our website at www.triwest.ca.
Stifel acted as exclusive financial advisor to NCSG and Paul, Weiss, Rifkind, Wharton & Garrison LLP as well as Bennett Jones LLP acted as legal advisors to NCSG.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). These statements can be identified by the fact that they do not relate strictly to historical or current facts. We have based these forward-looking statements on our current expectations about future events. Further, statements that include words such as “may,” “will,” “project,” “might,” “plan,” “expect,” “believe,” “anticipate,” “intend,” “could,” “would,” “estimate,” “continue,” or “pursue,” or the negative of these words or other words or expressions of similar meaning may identify forward-looking statements. These forward-looking statements are found at various places throughout this press release. These forward-looking statements, including, without limitation, those relating to future actions, new projects, strategies, backlog, future performance, the outcome of contingencies such as legal proceedings, and future financial results, wherever they occur in this press release, are necessarily estimates reflecting the best judgment of management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements should, therefore, be considered in light of various important factors set forth above and in this press release. Important factors that could cause actual results to differ materially from our expectations include whether the proposed transaction described in this press release can be completed in a timely manner, and whether the anticipated benefits of the proposed transaction can be achieved. Unless otherwise noted, NCSG is providing this information as of May 27, 2015, and expressly disclaims any duty to update information contained in this press release.
For more information on this transaction contact
Photo courtesy of NCSG Crane & Heavy Haul Corp