NEWS/PRESS

December 09, 2008
AmQuip and Powell Announce Transaction

AmQuip Crane Rental LLC and Powell Equipment Company announced today the acquisition by AmQuip of the business and assets of Powell, resulting in the formation of the Powell AmQuip division. The Atlanta based operation will expand the capabilities of AmQuip’s Southeast Region which includes Elliott AmQuip operations in Nashville and Murfreesboro, Tennessee and AmQuip’s Tower Crane Division in Birmingham, Alabama. The business will operate from Powell’s facilities located just off of I-285 in the heart of Atlanta under the direction of Floyd and Ross Powell.

“We are delighted to join with the Powell family and employees, who have a superb reputation for quality service and safety in the Atlanta market.” said Frank Bardonaro, AmQuip’s president. “AmQuip will add RT’s, crawlers, tower cranes and additional AT’s to Powell’s fleet, as well as access to our safety, technical and engineering resources. The new Powell AmQuip team will offer a ‘one-stop’ shop for the greater Atlanta region,” he added.

“In these uncharted economic times, we couldn’t be more excited about having the additional support from AmQuip to service our customers,” said Floyd Powell, CEO of Powell Equipment Company. “Our management, employees and operators will all benefit from this transaction, as well.”

Powell Equipment Company is one of Atlanta’s most established crane rental companies, having served Atlanta’s developers and contractors for nearly 40 years. The Company built new offices and yard facilities in 2005, located in the convenient Atlanta Industrial Park. The company is owned by Floyd and Richard Powell.

AmQuip Crane Rental LLC is one of the Nation’s largest crane rental companies, operating approximately 600 cranes in 20 states from operations in Georgia, Alabama, Tennessee, Ohio, Maryland, Pennsylvania, New Jersey, Rhode Island and Massachusetts. AmQuip has headquarters in Philadelphia.

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