The Manitowoc Company has purchased another crane business, in a deal that is estimated to be worth around $130 million.
The purchase of H&E Equipment Services Inc.’s crane business allows the company formerly stationed in Manitowoc to expand its aftermarket activities.
Manitowoc President and CEO Aaron H. Ravenscroft said in a news release, “The crane business will operate under our new wholly-owned subsidiary, MGX Equipment Services, LLC. Together, we are in a stronger position to continue delivering industry-leading products and support for our customers while growing shareholder value.”