US sales and rental company Pinnacle Cranes has been acquired by Tecum Equity, a fund supported by Western Allegheny Capital - the family office of Pittsburgh based Cliff Forrest, the owner of Rosebud mining.
Established in 2001 as a division of CTE (Carolina Tractor and Equipment) Pinnacle is based in Charlotte, North Carolina and is a leading Link-Belt and Manitex dealer covering North and South Carolina. It is also a dealer for Shuttlelift carry deck cranes.
A transition plan has been put in place by Pinnacle, CTE, and Tecum that will guarantee that the company continues unchanged while it looks for a new headquarters location. Tecum also owns a stake in Tidewater Equipment and hydraulic hose supplier Powertrack International.
Pinnacle chief executive Jim Mackinson said: “the Pinnacle Team looks forward to partnering with Rosebud and Tecum to continue the great growth journey we have experienced in our markets. We will continue to operate as Pinnacle Cranes out of our current service facilities in Charlotte and Raleigh to provide customers with the same exceptional quality and service they have come to expect from Pinnacle”.
Cliff Forrest added “we are excited to partner with the employees of Pinnacle to continue building on its success and key partnerships with Link-Belt and Manitex. We are confident the culture of great customer service will continue, and we look forward to supporting Pinnacle’s growth over the long-term”.