Barnhart and Steel City Crane of Birmingham, Ala. have reached a definitive agreement under which Barnhart will purchase the assets of Steel City.
The purchase will expand Barnhart's ability to serve heavy industrial customers in the coastal regions of Alabama and Mississippi. Steel City's crane inventory will be maintained and managed by Barnhart's branch in Mobile, Alabama. Arlington Capital Advisors counseled and assisted Steel City in the acquisition process.
"Steel City is a great company with a strong history. This move is a very positive change for everyone involved," said Alan Barnhart, CEO of Barnhart. "For years Steel City has built a good reputation by providing lifting solutions to heavy industrial customers such as process plants, refineries, and power plants especially during outages and shutdowns. This acquisition will allow Barnhart to continue to serve those same customers while offering a broader range of services that should help customers lower a project's overall costs. We think our industrial customers along the Gulf Coast Region will be very pleased with the expansion of services this acquisition allows."
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