(BRK.A), (BRK.B)
Marmon Crane Services has acquired Texas-based Joyce Crane. Marmon Crane Services is a unit of Berkshire Hathaway’s Marmon Holdings.
Headquartered in Longview, Texas, with additional locations in Texas, Arkansas, and Louisiana, Joyce Crane serves the heavy duty lifting and rigging needs of refineries, petrochemical companies, and power and manufacturing plants throughout the South and across the country.
“We are excited to welcome Joyce Crane and its employees to Marmon’s global portfolio of crane businesses,” said John Roberts, Sector President of Marmon Crane Service. “Joyce Crane is a company with a strong brand and an excellent service record, and we look forward to its continued growth under Marmon’s ownership.”
The company will continue to operate under the Joyce Crane name and brand. Staff and leadership, including founder Joe Bob Joyce, will remain the same with business support by Marmon Crane Services management.
“This is a very exciting time for Joyce Crane. This agreement is a positive move that will strengthen both companies and benefit all of Joyce Crane’s stakeholders, including our employees, clients, and vendors,” said Joe Bob Joyce, President. “We also remain steadfast in our commitment to the communities where we live and do business.”
Marmon Crane Services is headquartered in Chicago. The company owns and operates one of the largest fleets in the world with more than 1,200 mobile cranes. Its current companies include Procrane and Sterling Crane in Canada and the United States; Advantage Crane, based in Victoria, British Columbia; Freo Group, based in Kwinana, Western Australia; and WGC Cranes, based in Wollongong, New South Wales. Marmon’s crane business originated with Sterling Crane in western Canada in 1954.
Marmon Crane Services is part of Marmon Holdings, Inc., a Chicago-based diversified holding company with operations in 23 countries and 2018 revenues exceeding $8 billion.
Marmon Holdings is a subsidiary of Berkshire Hathaway Inc.
© 2019 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.