“We are excited to partner with Coast’s strong management team and look forward to growing the company with the help of CEO, Dan Goodale and his team,” said Brad Creswell, a partner at Northwest Capital Appreciation. Coast Crane has more than $100 million in annual revenue.
“Coast has grown substantially over the past few years as a result of strong commercial, energy and power and infrastructure construction markets and an increase in maintenance projects by our 4000 plus customers along the West Coast, said Goodale. According to Goodale, demand for cranes on the west coast as well as worldwide has never been greater and he sees this phenomenon lasting into the foreseeable future. “Timing in the industry for us to team-up with Northwest Capital and GE Asset Management could not come at a better time.”
Coast Crane was purchased from Audax Group, a Boston based private equity firm, which had previously purchased the company several years ago from the company’s founder, Ralph Hovis who started the company in 1971, in Portland, Oregon.
