Equity Group Investments partners with CraneWorks

Equity Group Investments (EGI), a private investment firm founded by Sam Zell, has invested in CraneWorks, a dealer of new and used truck-mounted and related mobile cranes. EGI is partnering with CraneWorks’ co-founders and senior management who will continue to lead the business and retain an ownership stake.

The partnership provides strategic support and a source of additional capital for greenfield expansion and acquisitions for the organization. EGI president Mark Sotir, managing director Rahul Sen, and vice president Faizan Kabir, will join the CraneWorks board of directors, alongside cofounders David Collis and Keith Ayers.

“With more than 20 years in operation, CraneWorks is well established in the industry and has excelled under David and Keith’s leadership,” said Sotir. “EGI has a proven track record of successfully scaling businesses, and this alignment offers an exciting opportunity to partner with CraneWorks through its next phase of growth.”

CraneWorks has a fleet of more than 300 cranes across its new, used, and rental segment, and a strong and fast-growing aftermarket parts and service division. The company services commercial, residential, infrastructure construction, transmission and distribution, and energy customers.

Terms of the transaction were not disclosed.