{"id":13781,"date":"2019-10-22T13:45:17","date_gmt":"2019-10-22T13:45:17","guid":{"rendered":"https:\/\/cranemarket.com\/blog\/?p=13781"},"modified":"2019-10-22T13:48:18","modified_gmt":"2019-10-22T13:48:18","slug":"pinnacle-cranes-a-link-belt-manitex-and-shuttlelift-dealer-was-acquired-by-tecum-equity","status":"publish","type":"post","link":"https:\/\/machine.market\/blog\/pinnacle-cranes-a-link-belt-manitex-and-shuttlelift-dealer-was-acquired-by-tecum-equity\/","title":{"rendered":"Pinnacle Cranes a Link-Belt, Manitex and Shuttlelift dealer is acquired by Tecum Equity"},"content":{"rendered":"<p class=\"content__segment combx \">Western Allegheny Capital and Tecum Equity Partners on Tuesday confirmed the acquisition of\u00a0<a href=\"http:\/\/pinnaclecranes.com\/Home.aspx\" data-ct=\"APT:bbm_profile_link\">Pinnacle Cranes <\/a>is the authorized dealer in North and South Carolina for <a href=\"https:\/\/cranemarket.com\/search\/link-belt\">Link-Belt<\/a> Cranes; <a href=\"https:\/\/cranemarket.com\/search\/manitex\">Manitex<\/a> Boom Trucks; and <a href=\"https:\/\/cranemarket.com\/search\/shuttlelift\">Shuttlelift<\/a> Industrial Carry Deck Cranes who maintains a large crane rental fleet and stocks a new crane inventory allowing for a timely delivery.<\/p>\n<p class=\"content__segment combx \">Tecum Equity is an equity control buyout fund announced in May 2017 that\u2019s backed by Western Allegheny, the family office of\u00a0Cliff Forrest, who is president of Kittanning-based Rosebud Mining Co.<\/p>\n<p class=\"content__segment combx \">Pinnacle is a crane service company established in 2001 as a division of CTE, formerly known as Carolina Tractor and Equipment Co., a provider of equipment, technology, and rental services to industry sectors including construction and power generation in the southeastern U.S. An authorized dealer in the Carolinas for Link-Belt Cranes and Manitex, Pinnacle has service facilities in Charlotte and Raleigh and will keep its name.<\/p>\n<p class=\"content__segment combx \">Terms were not released.<\/p>\n<p class=\"content__segment combx \">\u201cWe aren\u2019t disclosing the amount, but this was a material transaction,\u201d\u00a0Stephen Gurgovits Jr., Tecum Equity\u2019s managing partner, said.<\/p>\n<p class=\"content__segment combx \">Originally, Pinnacle was viewed as an add-on to Tidewater Equipment Co., a Brunswick, Georgia-based distributor of forestry and related equipment. Tecum Equity had announced a recapitalization of Tidewater in September 2018.<\/p>\n<p class=\"content__segment combx \">\u201cBut the more we studied the business,\u201d Gurgovits said, \u201cwe realized this could be a great platform investment on its own merit.\u201d<\/p>\n<p class=\"content__segment combx \">Now the strategy includes finding add-ons for Pinnacle.<\/p>\n<p class=\"content__segment combx \">\u201cWe will opportunistically look at acquisition opportunities in the space,\u201d Gurgovits said.<\/p>\n<p class=\"content__segment combx \">Tecum Equity is managed by Wexford-based\u00a0Tecum Capital Management, which also has a separate SBIC fund, that can leverage matching dollars from the U.S. Small Business Administration.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Western Allegheny Capital and Tecum Equity Partners on Tuesday confirmed the acquisition of\u00a0Pinnacle Cranes is the authorized dealer in North and South Carolina for Link-Belt Cranes; Manitex Boom Trucks; and Shuttlelift Industrial Carry Deck Cranes who maintains a large crane rental fleet and stocks a new crane inventory allowing for a timely delivery. Tecum Equity [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13782,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":""},"categories":[2,3],"tags":[1666],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pinnacle Cranes a Link-Belt, Manitex and Shuttlelift dealer is acquired by Tecum Equity - MachineMarket Blog<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cranemarket.com\/blog\/pinnacle-cranes-a-link-belt-manitex-and-shuttlelift-dealer-was-acquired-by-tecum-equity\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pinnacle Cranes a Link-Belt, Manitex and Shuttlelift dealer is acquired by Tecum Equity - MachineMarket Blog\" \/>\n<meta property=\"og:description\" content=\"Western Allegheny Capital and Tecum Equity Partners on Tuesday confirmed the acquisition of\u00a0Pinnacle Cranes is the authorized dealer in North and South Carolina for Link-Belt Cranes; Manitex Boom Trucks; and Shuttlelift Industrial Carry Deck Cranes who maintains a large crane rental fleet and stocks a new crane inventory allowing for a timely delivery. 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