Management buy-out at Ainscough

UK: Following months of speculation Ainscough Crane Hire has announced that the company will be sold to its existing management team for £255 million ($520 million).

Founded in 1976 by Gerald Ainscough and his family, the company has been run by three of his sons, Martin, James and Brendan, since 1984. It is now the UK's biggest crane rental company and employs some 1,000 people.

According to the company, its expansion follows internal growth and a range of acquisitions, resulting in a national network of 25 depots, supporting the UK's largest fleet of mobile cranes, standing at 500 units.

Primarily serving the infrastructure, petrochemical and general construction sectors, Ainscough provides cranes across a range of applications for clients that include Amec, Laing O'Rourke, Shell and BP.