Pfingsten announced its portfolio company, Crane 1 Services, has acquired Materials Handling Solutions, L.L.C. (“MHS”), a provider of overhead crane services and equipment. Headquartered in Duncan, SC, MHS offers a broad portfolio of critical services including inspections, maintenance, repair, design and installation of new and refurbished equipment and parts for overhead cranes and related material handling equipment.
“We are thrilled to add MHS to the Crane 1 family,” said Bob Vevoda, President and CEO of Crane 1. “The acquisition of MHS is another critical step for Crane 1 in building a leading, independent technical field service company focused on providing exceptional service quality and equipment uptime for our customers.”
“Together with Crane 1, we will be able to better serve our combined customer base with additional resources, broader service and equipment capabilities and enhanced geographic coverage,” said Jack Hinsdale, President of MHS. “We are excited to join the Crane 1 team and look forward to working together to rapidly grow the overall company.”
This is Crane 1’s fourth strategic acquisition since Pfingsten became the majority shareholder in October 2015 and its third acquisition in 18 months. 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.
“Crane 1 has been looking to expand its footprint in the Southeast to better meet the needs of key customers,” said Ryan Lavelle, Vice President at Pfingsten. “MHS’s reputation for service excellence, best-in-class manufacturing and strategic location made it the ideal fit for the Crane 1 platform.”