Frank Bardonaro to step down as AmQuip CEO

Bardonaro will continue his relationship with AmQuip through a newly-created board position, and he will retain his shareholdings in the firm.

Richard Bard, AmQuip’s board chairman and CEO of Bard Capital Group, one of AmQuip’s investors, said: “It will be ‘business as usual at AmQuip’. All issues previously directed to Frank Bardonaro will be handled by Al Bove, COO who joined AmQuip last December.”

Bove has been COO of General Crane’s operations in the Southwest and Western U.S. before joining AmQuip. He was also previously CEO at Maxim Craneworks earlier in his career.

Yuki Narula, a director of AmQuip who represents the largest shareholders, Altpoint Capital Partners said: “We thank Frank for taking us through this transition since our acquisition in 2007. Our board is committed to providing the resources and leadership necessary to take advantage of the economic upturn over the next several years.”

Frank Bardonaro said: “I feel good about the performance of AmQuip, our team, and the leading position AmQuip continues to have in its markets. This change will allow me to move on with my career and personal goals, knowing that Al Bove is on board to continue with senior leadership at the company.”

AmQuip owns and operates hundreds of cranes, ranging from small 6t industrial machines, to 500t all-terrain and crawler cranes.

Self cited as, ‘the crane people’, the Philadelphia-based organisation was founded by Joe Wesley through deals with other big eastern and south eastern US regional players, such as Elliot and Shaugnessy, before its sale to a team of investors, led by Bard Capital, in 2007.