EDMONTON, ALBERTA -- (MARKET WIRE) -- 04/09/08 -- NC Services Group ("NCSG"), a Northwest Capital Appreciation company and the parent company of Northern Crane Services Inc. ("NCS"), Trans Tech Contracting Inc., ("Trans Tech") and A-1 Crane Services Inc. ("A-1"), today announces the acquisition of Mullen Crane & Transport Inc. ("Mullen Crane"). Mullen Crane was established nearly thirty years ago by Ray and Ellen Mullen in Soda Springs, Idaho. Today with its modern Manitowoc and Grove crane fleet, it provides transport and heavy lift services to the energy, chemical and petrochemical industries as well as infrastructure in the states of Idaho, Colorado, Montana, Nevada, Oregon, Washington, Wyoming and Utah. Mullen Crane has a reputation as the premier heavy lift and hauling company in the region and has extensive experience transporting and installing wind turbines.As part of the transaction, Ray Mullen has been appointed to the board of directors of NCSG in addition to continuing to manage Mullen Crane. Ray, together with his senior management team, will be reinvesting into NCSG.
"We are excited to partner with such a well established and reputable company," said Leo Davis, NCSG CEO and co-founder. "Like NCSG, Mullen Crane is very much a family business and we are excited to welcome the Mullen Crane team to the NC Services Group of companies. Ray and his family have built a tremendous business and we couldn't be happier to welcome the whole team."
"The acquisition is a very significant step in our strategy to strengthen our position as the lifting & heavy haul solutions provider of choice" said John Stevens, NCSG President and COO. "Mullen Crane & Transport will be our platform company in the U.S. Northwest which will allow us significant opportunities to grow organically and through additional acquisitions. Their experience in the heavy lift, wind turbine transportation and erection business will be a huge benefit to our overall operations."
Ray Mullen added, "The partnership is exciting for us and our customers as additional capital and resources provided by NCSG will allow us to continue to provide an outstanding level of service to our customers. In addition, we are excited about the synergies between our company and NCSG."
About NC Services Group
Our ambition is to be the lifting and heavy haul solutions provider of choice in the region in which we operate. Through the partnering of our family of companies, the versatility of the services that we provide continues to strengthen and grow. Each entity brings with it the experience and equipment to attain our vision.
About Northwest Capital Appreciation
www.nwcap.com
Northwest Capital Appreciation has been acquiring and growing companies since it was founded in 1992. NCA has consistently built value by making investments in leveraged buyouts, consolidations, turnarounds, recapitalizations and growth financings of smaller middle market companies, defined as companies with enterprise values ranging from $50 million to $250 million. Since its founding, NCA has completed more than 75 acquisitions.
Contacts:
NC Services Group
Leo Davis
(780) 447-4440
NC Services Group
John Stevens
(780) 447-4440
Northern Crane Services Inc.
Website: www.northerncrane.com
TransTech Contracting Inc.
Website: www.transtecgroup.com
Mullen Crane & Transport Inc.
Website: www.mullencrane.com
