FVLCRUM Funds Acquires Gulf Coast Crane Services

FVLCRUM Funds acquired Gulf Coast Crane Services, a crane rental services solutions and equipment company headquartered in Corpus Christi, TX. Gulf Coast Crane is the first company to be acquired by FVLCRUM’s crane services platform, Peak Lifting Solutions.

Gulf Coast Crane specializes in providing crane services for commercial construction and installation, plants/processing, turnaround projects, roads and bridges, facilities maintenance, rig moves and other industrial markets.

“I have greatly admired Gulf Coast Crane’s track record and look forward to partnering with the team to evolve the company,” Al Bove, operating partner of FVLCRUM, said.

Bove and Rich Rossi are joining Peak Lifting Solutions’ board and will partner with a minority-led executive team that will work to expand the company’s footprint.

Gulf Coast Crane is the first investment in FVLCRUM’s larger strategy to build the largest U.S.-based, minority-owned crane rental company.

“With this step, we added another attractive platform to FVLCRUM’s infrastructure services portfolio,” Marques Martin, a partner at FVLCRUM, said. “We not only view Peak as an exciting investment profile based on strong macro tailwinds, but also an opportunity to drive quality job creation to further FVLCRUM’s broader mission to help close the racial wealth gap in our country.”

“As a part of FVLCRUM’s investment, Gulf Coast Crane has signed a Community Benefits Agreement (CBA) and will provide annual reporting to evidence its goals of material job creation in LMI communities and wage parity for its jobs,” Yves M. Mombeleur, managing director of impact at FVLCRUM, said. “All in all, the FVLCRUM team is thrilled to welcome Gulf Coast Crane into its growing ecosystem of positive impact.”

Working with Martin on the transaction was Rebecca Bendetson, an associate at FVLCRUM. Jones Day served as legal counsel and Ernst & Young acted as the financial advisor to FVLCRUM in the transaction.

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