St. Paul, Minn.-based IPS Cranes has entered into a definitive agreement to acquire American & Ohio Locomotive Crane Co. (AOLCrane).
The merger will enable IPS Cranes to achieve its mission to provide customers with a greater range of services that will give them the ability to sustain and maintain their fleet of American Hoist and Ohio locomotive cranes and American Hoist crawler cranes. It also will manufacture excavator bodies and offer line boring services related to locomotive crane repairs and rebuilds.
Jackie O’Connell, president and CEO of IPS Cranes, said, “We are extremely excited for this acquisition, as it allows us to create the industry’s broadest and deepest range of crane manufacturing, services, and resources.”
