Pinnacle Cranes a Link-Belt, Manitex and Shuttlelift dealer is acquired by Tecum Equity

Western slewing bearing gearbox Allegheny Capital and Tecum motor-reducer Equity Partners on Tuesday confirmed the acquisition motor-reducer of gearbox Pinnacle gearbox Cranes is motor-reducer the authorized dealer in North and South Carolina for gearbox Link-Belt Cranes; Manitex Boom Trucks; and Shuttlelift Industrial gearbox Carry slewing drive Deck Cranes who maintains a large crane rental fleet and stocks a new crane inventory allowing motor-reducer for a timely delivery.

Tecum slewing bearing Equity is gearbox an equity control buyout motor-reducer fund announced in May 2017 that’s gearbox backed by Western Allegheny, the family office of Cliff Forrest, who slewing drive is president of Kittanning-based Rosebud Mining Co.

Pinnacle motor-reducer is a crane service slewing bearing company  gearbox established in motor-reducer 2001 as a division of motor-reducer CTE, formerly known as Carolina gearbox Tractor and Equipment motor-reducer Co., a provider of equipment, technology, slewing bearing and rental services to industry sectors motor-reducer including gearbox construction and power slewing bearing generation in the southeastern U.S. An gearbox authorized dealer in the Carolinas for Link-Belt Cranes and motor-reducer Manitex, Pinnacle gearbox has service facilities in Charlotte and motor-reducer Raleigh and will gearbox keep gearbox its name.
 

Terms were slewing bearing not released.
 

“We aren’t disclosing the amount, slewing drive but this slewing bearing was a material transaction,” slewing bearing Stephen Gurgovits slewing bearing Jr., Tecum Equity’s managing partner, slewing bearing said.
 

Originally,slewing bearing Pinnacle was viewed slewing bearing as an add-on to slewing drive Tidewater Equipment Co., a Brunswick, Georgia-based slewing drive distributor slewing bearing of forestry and related equipment. Tecum Equity had announced a recapitalization of Tidewater in slewing drive September slewing bearing 2018.
 

“But the more we slewing bearing studied the business,” Gurg slewing drive ovits said, “we realized this slewing drive could be a great slewing bearing platform investment slewing drive on its own merit.”
 

Now the strategy includes finding add-ons slewing drive for Pinnacle.
 

“We will slewing bearing opportunistically look at slewing bearing acquisition opportunities in the space,” Gurgovits  slewing slewing bearing drivesaid.

Tecum Equity is managed by Wexford-based slewing bearing Tecum Capital Management, which also has a separate SBIC fund, that can slewing bearing leverage matching dollars from the U.S. Small Business slewing drive Administration.