Equity Group Investments (EGI), the private investment firm founded by the late Sam Zell, has made an investment in CraneWorks, a dealer of new and used truck-mounted and related mobile crane equipment.
Terms of the transaction were not disclosed.
The partnership provides strategic support and a source of additional capital for greenfield expansion and acquisitions for the organization. Mark Sotir, EGI president, Rahul Sen, managing director and Faizan Kabir, vice president, will join CraneWork’s board of directors, alongside the company’s co-founders David Collis and Keith Ayers.
CraneWorks has a fleet of more than 300 cranes across its new, used and rental segments, and a strong and fast-growing aftermarket parts and service division. The company services commercial, residential, infrastructure construction, transmission and distribution, and energy customers.