New investment for Extreme Crane
By Niamh Marriott17 October 2022
Florida, USA-based private equity group Mollitiam Holdings has made a strategic investment, of an undisclosed amount, to acquire a majority ownership stake in USA-based crane and rigging services company Extreme Crane & Rigging.
Extreme Crane is Mollitam’s third platform investment with previous investments in industrial services and waste management. Mollitiam Holdings, LLC is a newly-formed Florida based private equity group currently investing in lower to middle market opportunities within infrastructure construction, industrial services, logistics, transportation, and waste management.
Mollitiam partners with existing shareholders and management teams in either majority or minority investments and provides them access to capital and its management experience.
“The decision to recapitalise and partner with a new investor group follows a thorough review of options available to us to enhance our financial strength and ensure Extreme Crane’s ability to continue to pursue our goal of becoming a leading provider of crane and rigging services in the Mid-Atlantic region of the United States,” said Kevin Rodney, CEO of Extreme Crane & Rigging.
“Kevin and his team have built a very successful business with a great reputation and we are excited to work with them to execute their growth plans,” said Larry Rovin, managing partner of Mollitiam.
“We see Extreme Crane as the foundation upon which we will build a leading crane service company in the region. We intend to see this business grow and prosper as we add equipment and services.”