American Equipment buys BC Wire Rope to expand Western US reach
What's the deal? American Equipment Solutions (AES)Dealroom has a profile for this one. Try Dealroom →, a national overhead crane and hoist provider backed by Rotunda Capital PartnersDealroom has a profile for this one. Try Dealroom →, has acquired BC Wire Rope & RiggingDealroom has a profile for this one. Try Dealroom →. The Anaheim, California-based target supplies wire rope, slings, chain, hoists, and rigging equipment, with in-house assembly, testing, and same-day jobsite delivery. Terms were not disclosed.
What's the endgame? Founded in 1974, BC Wire Rope operates six branches across California, Arizona, and Nevada. Adding its rigging and below-the-hook capabilities to AES's crane installation, inspection, service, and modernization work gives customers a full lifecycle lifting solution from one provider.
Why now? AES is expanding its national footprint. "This acquisition is consistent with our strategy of enhancing AES' ability to serve customers across the United States with a broad suite of overhead lifting solutions and services," said chief executive officer Tom Hoyer.
BC Wire Rope's co-owner Barry Heavican said the two companies share a focus on customer service and "maximizing productivity, efficiency, and safety." Co-owner Bill Clark added that his team is joining "a growing organization that invests in its people and customers."
The signal: Rotunda, an operationally focused private equity firm, has backed AES as a buy-and-build platform in industrial services since 2009. The deal reflects steady consolidation in the fragmented material handling market, where regional specialists are being folded into national providers offering end-to-end lifting services.
Read more: morningstar.com
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