NATIONS CAPITAL, INC. ENTERS INTO STRATEGIC AGREEMENT WITH ML CRANE GROUP TO PURCHASE CERTAIN ASSETS AND PROVIDE REMARKETING SERVICES AS PART OF THE COMPANY’S FLEET OPTIMIZATION INITIATIVE
ALLIANCE, Ohio, Dec. 15, 2022 /PRNewswire/ -- Nations Capital Inc. (“NCI”), a global asset management and advisory firm focused on opportunistic investments and asset remarketing, announced today that it has entered into an Agreement with ML Crane Group (the “Company”) and its affiliated companies to provide both capital and remarketing services in a partnership to help the Company achieve its goals in updating their current fleet through the monetization of excess fleet assets. In creating this partnership, the Company will continue achieving its objectives in positioning its fleet for optimal customer service and expansion across the geographies and sectors it serves. The ML Crane Group family of companies includes Crane Service, Inc., Marks Crane & Rigging, Winslow Crane Service Co. and Chellino Crane.
As part of the Agreement, NCI has acquired certain assets which will be available to the crane, heavy haul and rigging market immediately. The assets include a fleet of all terrain cranes, rough terrain cranes, crawler cranes and boom trucks of various size and capacity. Beyond the assets immediately acquired, NCI is offering additional assets for sale on behalf of the Company. Additional asset categories include a wide variety of cranes, truck tractors, service vehicles and support equipment. NCI will also facilitate ancillary services for the Company including yard management, storage and refurbishment.
“Nations Capital is pleased to have partnered with ML Crane Group to help achieve its objectives as it seeks to optimize its fleet in the various sectors and markets it operates in. NCI possesses a deep knowledge of the crane, heavy haul and rigging space providing customers and clients with creative solutions in rapid fashion,” said Zac Dalton, Executive Vice President at NCI.
“We are very pleased to enter into this Agreement and relationship with NCI to allow us to continue to achieve our strategic goals across our family of companies. Positioning our fleet to best serve our customer base is of critical importance as we prepare for the future,” said Caroline Asimakopoulos, President of ML Crane Group.
About Nations Capital, Inc.
NCI is a strategic partner to companies and clients across a wide range of commercial and industrial sectors, with a particular focus and expertise in finance, restructuring, and asset remarketing. We provide capital, advisory services and infrastructure to guide our clients through change and growth.
About ML Crane Group
Steeped in the crane industry tradition dating back to the 1930s, our companies deliver first-class workmanship with a safety-first approach. ML Crane has some of the most highly skilled and knowledgeable professionals in the crane business. With decades of experience, our team operates in industries such as renewable energy, refining & petrochem, power generation & distribution, mining, HVAC & mechanical, infrastructure & maintenance, government, communications, commercial & residential construction, and more. ML Crane has developed a closely networked group that provides synergies and customized solutions for companies across many industries.
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Nations Capital, Inc.
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SOURCE Nations Capital, Inc.