M&A Deal Summary

Apollo Global Management Acquires Maxim Crane Works

On May 2, 2016, asset manager Apollo Global Management acquired business services company Maxim Crane Works from Platinum Equity

Acquisition Highlights
  • This is Apollo Global Management’s 3rd transaction in the Business Services sector.
  • This is Apollo Global Management’s 43rd transaction in the United States.
  • This is Apollo Global Management’s 3rd transaction in Pennsylvania.

M&A Deal Summary
Date 2016-05-02
Target Maxim Crane Works
Sector Business Services
Buyer(s) Apollo Global Management
Sellers(s) Platinum Equity
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs (Financial)

Target

Maxim Crane Works

Bridgeville, Pennsylvania, United States
Maxim Crane Works is a coast-to-coast provider of comprehensive lifting services in the United States. Maxim Crane Works was founded in 1994 and is based in Bridgeville, Pennsylvania.

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Buyer(S) 1

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

DEAL STATS #
Overall 61 of 140
Sector (Business Services) 3 of 7
Type (Secondary Buyout) 12 of 30
State (Pennsylvania) 3 of 7
Country (United States) 43 of 101
Year (2016) 6 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-22 RegionalCare Hospital Partners

Brentwood, Tennessee, United States

RegionalCare Hospital Partners is an owner and operator of regional acute care facilities. RegionalCare Hospital Partners is based in Brentwood, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-10 Panolam Surface Systems

Shelton, Connecticut, United States

Panolam Surface Systems is a manufacturer of thermally fused melamine (TFM) panels and high-pressure laminates (HPL). TFM and HPL are used to manufacture kitchen and bath cabinetry, residential and commercial furniture, store fixtures and counter-tops. Panolam Industries International was founded in 1997 and is based in Shelton, Connecticut.

Sell -

Seller(S) 1

SELLER

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.

DEAL STATS #
Overall 44 of 78
Sector (Business Services) 6 of 8
Type (Secondary Buyout) 10 of 21
State (Pennsylvania) 3 of 6
Country (United States) 37 of 65
Year (2016) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-19 PAE

Falls Church, Virginia, United States

PAE is a provider of support for the essential missions of the U.S. government, its allied partners, and international organizations. With over 60 years of experience, the company supports the execution of complex and critical missions by providing global logistics and stability operations, technical services and national security solutions to customers around the world. PAE was formed in 1955 and is based in Falls Church, Virginia.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-31 Electro Rent

Van Nuys, California, United States

Electro Rent is a provider of electronic test and measurement (T&M) equipment solutions. The Company offers rental, leasing, sales of new and used equipment, and asset management services.

Buy $323M
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