Ares Management purchases Atlas Crane
23 August 2022
Atlas Crane Service, a full-service crane rental company that primarily serves the wind industry, has announced that a fund managed by the Infrastructure Opportunities strategy of Ares Management has acquired a controlling interest in the company.
Founded in 2009 and headquartered in Aurora, IL, Atlas is a full-service crane rental provider offering turnkey maintenance, repair and overhaul solutions to over 250 customers. The company’s fleet of cranes provides mission critical maintenance and repair services for wind turbines. Atlas’ executive management team, led by Zach Prentis, chief executive officer, will continue to guide the company.
“The investment by Ares marks an exciting next chapter for Atlas, our employees and our customers as we seek to accelerate the growth of our business and capabilities,” said Prentis. “Ares brings meaningful resources and deep experience in the renewables industry, which we believe will support our strategic expansion in the growing wind sector. Our team is energized by the future opportunities for Atlas and we remain steadfast in our commitment to supporting renewable energy generation across the U.S.”
Keith Derman, partner and co-head of Ares Infrastructure Opportunities said the company is excited to support Atlas’ long-term vision and leverage their combined strengths towards renewable energy power generation.
“Zach and his team have built a differentiated business with a strong, entrepreneurial culture, and we look forward to helping them provide critical services and solutions to wind asset owners and operators throughout the country,” Derman added.