Hines Corp. acquires Crane Carrier Co.
Hines Corp. of Spring Lake announced Monday its acquisition of Oklahoma-based Crane Carrier Co., a manufacturer of custom-built, heavy-duty diesel, CNG and hybrid truck chassis.
The purchase of Crane is in line with Hines’ vision of bolstering existing business potential and fostering new growth for each of its companies, officials said.
Terms of the sale were not released.
Crane will operate autonomously under its existing name at its Tulsa facility, where it engineers, manufactures and distributes vehicle chassis for mobile drill rigs, refuse collection, well service and other specialty applications.
Hines will provide hands-on strategic and operational support to promote Crane’s continued growth.
Crane complements the operations of Hines-held Kimble Manufacturing Co., based in New Philadelphia, Ohio, a maker of concrete mixer trucks and custom chassis for the mining, utility and energy sectors.
While still functioning independently, each company will capitalize on the other’s strengths, including geography, best practices, and Crane’s network of more than 47 dealers and a combined 175 independent sales and service locations in the United States and Canada.
The acquisition of Crane will raise Hines’ current number of operating companies to seven, collectively employing more than 700 people.
Hines is a family owned industrial company, based in Spring Lake, and led by Larry Hines, since he started the firm in 1985. It holds a diverse set of North American manufacturing companies serving commercial and industrial markets.