NEWS
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AmQuip acquired by Clearlake
partner,ClearlakeCapital
Group, said, “AmQuip’s strong
focus on safety, customer
service and attracting,
developing, and retaining
skilled employeeshas
positioned it as a leader in
the crane rental space.We
are excited topartnerwith
the company’s outstanding
executive andprofessional
team togrowAmQuip as
aplatform for industry
consolidation, bothorganically
and through acquisitions.”
In addition toBove and
Feliciano,ArtaTabaee and
ColinLeonardofClearlake
will join theAmQuipboardof
directors.
Clearlake’s acquisitionof
AmQuipwas supportedby a
financing consortium ledby
WellsFargoCapital Finance
as administrative agent and
joint lead arranger, PNC
Bank,N.A. andCITBank
as joint lead arrangers, and
CapitalOne.AmQuip and
the selling shareholder group
were advisedbyOppenheimer
&Co. Inc. as lead financial
advisor andbyRBCCapital
Markets.
AmQuipowns some500
craneswith lifting capacities
ranging from six to716 tons.
The companymarkets itself as
a “one-stop solution through
theprovisionof value-added
operator andmaintenance
services, extensiveconsultation
services and complete setup
and logistics support.”
■
OSHA extends deadline to 2017
for crane operator certification
November 10, 2017. The rule
also extends by three years the
employer’s responsibility to
ensure that craneoperators are
competent tooperate a crane
safely.
During the three-year
period,OSHAwill address
operator qualification
requirements for the cranes
standards including the role
of operator certification. The
final cranes andderricks rule
required craneoperators on
construction sites tomeet
oneof four qualification/
certificationoptions by
November 10, 2014.After
publishing the final rule,
anumber of parties raised
concerns about the standard’s
requirement to certify
operators by type and capacity
of crane andquestioned
whether craneoperator
certificationwas sufficient
for determiningwhether
anoperator couldoperate
ACT
NOVEMBER2014
their equipment safelyon a
construction site.
The agencypublished
aNoticeof Proposed
Rulemaking (NPRM) on
February12, 2014, proposing
to extend for three years both
thedeadline for operator
certification and the employer
duty to ensure competent
craneoperation.After
publishing theproposed rule,
ahearingwas requested and
held inWashington,D.C.
OSHA analyzed the comments
to theNPRM and thehearing
testimony anddecided to
extendboth the craneoperator
certificationdeadline and the
existing employer duty.
According toOSHA, the
agencyhas alreadybegun
theprocess of developing
a standard to ensure crane
operator qualifications.
■
Aswas expected,
Occupational Safety and
HealthAdministration
(OSHA) has issued a final rule
extending thedeadline for
craneoperator certification
requirements in theCranes
andDerricks inConstruction
rule (publishedAugust
9, 2010) by three years to
OSHA has delayed the deadline
for mandatory crane operator
certification by three years to
address concerns about the
requirement to certify operators
by type and capacity.
AmQuip put their new Terex Superlift 3800 towork removing and
replacing old ductwork at the La Cygne Generating Station in La
Cygne, KS.
ClearlakeCapitalGroup, L.P.
has completed its acquisition
ofAmQuipHoldings from
a consortiumof investors
includingAltpointCapital
PartnersLLC.AmQuip is a
leadingprovider ofmanned
andbare rental cranes and
related lifting solutions
to the energy, industrial,
construction and related
markets. Financial terms of the
transactionwerenot disclosed.
“We are excited topartner
withClearlake,whichboasts
a successful track record
of backing, supporting and
growing companies that
provide services to the energy
and industrial endmarkets,”
saidAlbertBove,AmQuip
CEO. “Clearlake’s operational
expertise and financial
resourceswill help solidify
AmQuip’sposition as a leading
NorthAmerican lifting
solutionsprovider.”
JoséE. Feliciano, founding
