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Austria’s Palfinger AG (VIE: PAL) agreed to acquire Norway’s TTS Group ASA (OSE: TTS) for NOK 600 million ($72.66 million). In May, Finland-based Konecranes Plc (NASDAQ Helsinki: KCR1V) agreed to acquire the Material Handling and Port Solutions division of Connecticut-based Terex Corp. (NYSE: TEX), for $1.3 billion. “AmQuip and Maxim share similar cultures and values relating to people, safety and the desire to serve the industry,” said Carlisle. “This combination represents an opportunity for us to build a world class organization with the best people in the crane industry. We intend to run the business in the most effective manner possible, utilizing best practices of both organizations. This partnership will be mutually beneficial to both of our teams and, most importantly, to the customers we serve by providing an enhanced level of service, expertise, equipment and geographic coverage.” “Our companies know each other well with ties that go back more than 30 years,” said Bove. “The teams on both sides throughout each organization are made up of the most experienced lifting solutions experts in the industry and the ability to work together going forward is exciting for everyone involved.” “We are tremendously excited by this unique opportunity to combine two premier businesses in the North American lifting services market,” said Apollo Global Management partners Larry Berg and Antoine Munfakh. “Both Maxim and AmQuip have built exceptional reputations and customer relationships through the depth of their employee talent and their commitment to providing the highest levels of customer service. We see many compelling growth and innovation opportunities in the market, and we look forward to bringing Apollo’s resources to bear in helping Bryan and Al achieve their long-term strategic objectives.” Barclays is serving as financial advisor to Apollo, Harris Williams & Co. and Oppenheimer & Co. Inc. are serving as financial advisors to AmQuip and Clearlake, and Goldman, Sachs & Co. is serving as financial advisor to Maxim. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor to Apollo, Stradling Yocca Carlson & Rauth and Cooley LLP are serving as legal advisors to Clearlake, and Latham & Watkins LLP is serving as legal advisor to Platinum Equity. The debt financing for these transactions is being committed to by J.P. Morgan Chase Bank N.A., Wells Fargo, Barclays, and Jefferies Finance LLC, and Cahill Gordon & Reindel LLP and Otterbourg P.C. are serving as their legal counsel. Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management of approximately $170 billion as of December 31, 2015 in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. Clearlake Capital Group is a private investment firm with a sector-focused approach. The firm’s core target sectors include industrials, energy and power; technology, communications and business services; and consumer products and services. Clearlake currently has over $3.5 billion of assets under management. The firm is headquartered in Santa Monica, Calif. Platinum Equity is a global private equity investment firm with a portfolio of approximately 25 operating companies. The firm specializes in acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. The firm was founded in 1995 by Tom Gores, and has completed more than 175 acquisitions. The firm is headquartered in Los Angeles, Calif.]]>