Ainscough Crane Hire is set to take over Baldwins’ mobile crane fleet and achieve a remarkable consolidation of the UK rental industry.
The management buyout team was told at 8pm Thursday 29 November that its bid for the business had been rejected by Baldwins’ creditors in favour of Ainscough’s bid.
Ainscough was told the following morning by the adminstrative receivers from PriceWaterhouse Coopers that it was now in exclusive negotiations to finalise a deal.
Approximately 240 mobile and crawler cranes now join the 400 or so that Ainscough already has in its fleet.
Just two years ago Ainscough paid more than £20m ($30m) for the 350-crane fleet of GWS and since that time has been engaged in heavy fleet rationalisation. A similar programme is now likely to follow, although Baldwins’ fleet is significantly more modern that GWS’s was, and there is less of an overlap between Ainscough and Baldwiins than there was with GWS. Ainscough’s strength lies in the north, while Baldwins is stronger in the southeast as well as in heavy lifting.
Meanwhile the Delta Tower Crane rental business of Baldwins is still up for sale.
