Standard Crane & Hoist Acquired by Crane 1
Standard Crane & Hoist (“Standard Crane” or the “Company”) has been acquired by Crane 1, a portfolio company of L Squared Capital Partners. Baird Business Owner Solutions served as exclusive financial advisor to Standard Crane on this transaction. Mark Farmer with Wyatt, Tarrant & Combs served as legal counsel for Standard Crane.
Based in Destrehan, Louisiana, Standard Crane operates as the number one crane manufacturer, service, and repair center in the Gulf South with eight locations across Louisiana, Mississippi, and Texas. The Company provides mission-critical overhead crane inspections, repairs and maintenance, parts, and new cranes through an exceptionally talented team, complementary service offerings, and differentiated equipment solutions.
Under the leadership of Owner and President Mac Hadden, Standard Crane has grown through customer penetration and market expansion and has developed an excellent reputation of high integrity and delivering reliable overhead crane solutions. The partnership with Crane 1 is expected to continue Standard Crane’s regional growth and expand the Company’s top-tier technicians, high-performing management team, and consistent customer base. Mac Hadden will continue to lead the team moving forward and is recognized as a high-integrity, team-oriented leader.
As we transition from our current structure to the new relationship with Crane 1, I am proud to say we share the same core values of integrity, employee focus, and outstanding customer service. I am grateful to Baird for guiding me through the transaction process and was very pleased with their professionalism and knowledge getting us to this point.
Comment from Mac Hadden after the transaction.
Headquartered in Miamisburg, Ohio, Crane 1 is a proven M&A platform operating in the highly fragmented $3 billion market for overhead crane MRO services and equipment. Crane 1 offers a full suite of services, including OSHA mandated inspections, maintenance, repair, design and installation of overhead crane systems and below-the-hook lifting devices. Since 2021, Crane 1 has operated as a portfolio company of L Squared Capital Partners, an investment firm headquartered in Newport Beach, CA that seeks to make long-term investments in leading growth companies that operate in targeted sectors.
About Baird Business Owner Solutions
Baird’s Business Owner Solutions team advises lower middle-market and emerging growth companies and their owners on business transition, valuation, and M&A transactions.
