AmQuip Holdings LLC and Clearlake Capital Group, L.P. announced yesterday that Clearlake has completed its acquisition of AmQuip from a consortium of investors including Altpoint Capital Partners LLC. AmQuip is a leading provider of manned and bare rental lifting solutions to the North American energy, industrial, and other end markets. Financial terms of the transaction were not disclosed.

Founded in 1967, AmQuip serves a diverse set of over 6,600 blue chip national, regional and local customers through a growing network of 13 branch locations serving 36 states. The Company operates one of the youngest crane fleets of approximately 500 owned units with lifting capacities ranging from six to 716 tons, supported by the leading suppliers to the crane industry. AmQuip’s team of experienced professionals offers customers a one stop solution through the provision of value added operator and maintenance services, extensive consultation services, and complete setup and logistics support.

“We are excited to partner with Clearlake, which boasts a successful track record of backing, supporting and growing companies that provide services to the energy and industrial end markets,” said Albert Bove, Chief Executive Officer of AmQuip. “Clearlake’s operational expertise and financial resources will help solidify AmQuip’s position as a leading North American lifting solutions provider.”

“AmQuip’s strong focus on safety, customer service, and attracting, developing, and retaining skilled employees has positioned it as a leader in the crane rental space” said José E. Feliciano, Founding Partner at Clearlake. He continued, “We are excited to partner with the Company’s outstanding executive and professional team to grow AmQuip as a platform for industry consolidation, both organically and through acquisitions.”

In addition to Bove and Feliciano, Arta Tabaee and Colin Leonard of Clearlake will join the Company’s Board of Directors.

Clearlake’s acquisition of AmQuip was supported by a financing consortium led by Wells Fargo Capital Finance as Administrative Agent and Joint Lead Arranger, PNC Bank, N.A. and CIT Bank as Joint Lead Arrangers, and Capital One. AmQuip and the selling shareholder group were advised by Oppenheimer & Co. Inc. as lead financial advisor and by RBC Capital Markets.