Edmonton, Alberta (PRWEB) December 26, 2008
GW Equity, LLC announces the sale of its client Mullen Crane & Transport Inc. ("Mullen Crane") to NC Services Group ("NCSG"), a Northwest Capital Appreciation company and the parent company of Northern Crane Services Inc. ("NCS"), Trans Tech Contracting Inc., ("Trans Tech") and A-1 Crane Services Inc. ("A-1"). The transaction closed April 9, 2008.
Mullen Crane was established nearly thirty years ago by Ray and Ellen Mullen in Soda Springs, Idaho. Today with its modern Manitowoc and Grove crane fleet, it provides transport and heavy lift services to the energy, chemical and petrochemical industries as well as infrastructure in the Western United States. Mullen Crane has a reputation as the premier heavy lift and hauling company in the region and has extensive experience transporting and installing wind turbines.
As part of the transaction, Ray Mullen has been appointed to the board of directors of NCSG in addition to continuing to manage Mullen Crane. Ray, together with his senior management team, will be reinvesting into NCSG. Ray said "The partnership is exciting for us and our customers as additional capital and resources provided by NCSG will allow us to continue to provide an outstanding level of service to our customers. In addition, we are excited about the synergies between our company and NCSG."
"We are excited to partner with such a well established and reputable company," said Leo Davis, NCSG CEO and co-founder. "Like NCSG, Mullen Crane is very much a family business and we are excited to welcome the Mullen Crane team to the NC Services Group of companies. Ray and his family have built a tremendous business and we couldn't be happier to welcome the whole team."
"The acquisition is a very significant step in our strategy to strengthen our position as the lifting & heavy haul solutions provider of choice" said John Stevens, NCSG President and COO. "Mullen Crane & Transport will be our platform company in the U.S. Northwest which will allow us significant opportunities to grow organically and through additional acquisitions. Their experience in the heavy lift, wind turbine transportation and erection business will be a huge benefit to our overall operations."
GW Equity represented Mullen Crane as its merger and acquisition advisor. "This enabled the Mullen family to diversify its net worth and expand their career opportunities" said Brenen Hofstadter, GW Equity managing director on the transaction. Brenen added "We were proud to help them achieve their goals and impressed with this outstanding buyer." Terms of the transaction were not disclosed.
About NC Services Group
It is the ambition of NC Services Group to become the lifting and heavy haul solutions provider of choice in the regions in which it operates. Through the partnering of its family of companies, the versatility of the services provided continues to strengthen and grow. Each entity brings with it the experience and equipment to attain that vision. For more information contact:
NC Services Group
Northern Crane Services Inc.
Mullen Crane & Transport Inc.
About Northwest Capital Appreciation
Northwest Capital Appreciation has been acquiring and growing companies since it was founded in 1992. NCA has consistently built value by making investments in leveraged buyouts, consolidations, turnarounds, recapitalizations and growth financings of lower and mid-market companies with enterprise values ranging from $50 million to $250 million. Since its founding, NCA has completed more than 75 acquisitions. For more information, visit http://www.nwcap.com.
About GW Equity
GW Equity, a Generational Wealth and Equity company, assists privately held and family-owned businesses in completing mergers, acquisitions, divestitures and strategic growth initiatives. GW Equity has more than 300 professional advisors and affiliates nationwide and is headquartered in Dallas, with affiliate offices in New York, Chicago and Irvine, Calif. For more information, contact GW Equity at (877) 213-1792 or visit http://www.gwequity.com.