NCSG Crane & Heavy Haul Holdings Inc. (NCSG), an indirect subsidiary of NCSG Crane & Heavy Haul Corp. (NCSG) and its investor group, signed a stock purchase agreement to buy all outstanding shares of B&G Crane Holdings Inc. ("B&G"), NCSG said April 27.
NCSG is based in Edmonton, Alberta.
NCSG’s investor group, led by TriWest Capital Partners, Alberta Teachers’ Retirement Fund and NCA Partners joined NCSG in the announcement, the company added.
The majority owner of the business prior to the sale is The Sterling Group LP.
The Grilletta family, who founded B&G in 1946 in New Orleans, still own a large minority interest. The company provides operated and maintained cranes, specialized rigging and heavy haul transportation in Louisiana and Texas. The company has more than 180 master service agreements with refining, petrochemical and midstream markets, and other industries.
The B&G management team, including Gawain Grilletta, Rich Haggard, Trip Grilletta and Xavier Grilletta Jr., will become NCSG shareholders and continue running the business.
Stifel is NCSG’s financial adviser. RBC Capital Markets is B&G’s financial adviser.
Paul, Weiss, Rifkind, Wharton & Garrison LLP is NCSG’s legal adviser. Bennett Jones LLP is also legal adviser to NCSG.
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