Audax Group Announces Sale of Coast Crane.BOSTON -- Audax Group ("Audax") announced it has completed the sale of Coast Crane Company ("Coast Crane") to Northwest Capital Appreciation. Based in Seattle, Washington  This page is protected from moves until disputes have been resolved on the .The reason for its protection is listed on the protection policy page. , Coast Crane distributes, rents, and services cranes, manlifts, and related equipment for commercial, residential, and infrastructure construction projects through its thirteen branch locations. Audax acquired the company in July 2004 and subsequently opened up a new branch in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. in July 2005 and acquired SI Equipment Services in January 2006. The acquisition expanded the company's reach in the Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, market and accelerated the company's penetration of the emerging tower crane segment. Geoffrey S. Rehnert, Co-CEO of Audax Group, said "We were able to achieve our key objectives for Coast Crane in a relatively short time frame. We put in place a new senior management team, implemented financial controls and systems to optimize crane utilization, and sourced and integrated an add-on acquisition that broadened the company's product line and geographic reach. We wish Dan Goodale and his management continued success." Dan Goodale, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Coast Crane, said "Working closely with Audax Group we were able to solidify Coast Crane's position as a leading provider of Crane rental equipment on the West Coast. Audax provided us the resources we needed to achieve this successful outcome." Kirkland & Ellis LLP LLP - Lower Layer Protocol advised Audax. Lincoln International represented Coast Crane. ABOUT AUDAX GROUP Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Audax manages in excess of $2.5 billion in equity and mezzanine debt capital. For more information visit the Audax Group website http://www.audaxgroup.com |
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