M-L Holdings Company Crane Group announces it has acquired Chellino Crane of Illinois. The Chicagoland crane company was founded in 1947 by Sam Chellino and serviced refineries, power, and chemical plants in the region. It filed for bankruptcy protection in May 2017 due to outstanding debt on equipment and union obligations, according to court documents. The records further explained that the downturn in the oil and gas industry led to projected revenue misses and liquidity crisis.
The acquisition of Chellino Crane extends M-L Holdings Company Crane Group’s reach in the Midwest, said Scott Wilson, president of M-L Holdings Co., adding more resources to its combined customer base. “The Chellino family and M-L Holdings Company Crane Group will continue to provide the same great service and support customers have grown to value over the years,” he said.
With the addition of Chellino Crane, M-L Holdings Company Crane Group has increased its crane service fleet to 14 full-service branch locations that includes 427 employees, 265 cranes with sizes ranging from 8.5 to 600 tons, 475 trailers, 310 road tractors, and 75 forklifts.