Bass Crane Service acquired by 1850 Investments

According to news reports, it is the private equity (PE) firm’s second crane acquisition in just more than a year. In May 2025, the firm purchased Hampton Roads Crane and Rigging, headquartered in Newport News, Virginia. Terms were not disclosed.

The deal includes Bass Crane’s fleet of seven cranes, ranging from 23 to 145 tonnes, eight trucks and around 20 employees. The company will keep its name and continue operating as a separate subsidiary, managed by 1850’s Drew Brockwell, who also oversees Hampton Roads Crane and Rigging.

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Following a pattern

Both acquisitions followed a similar pattern: family-owned, multi-generation businesses with no succession plan in place. Bass Crane was founded by three brothers as E.L. Bass & Bros. in 1903 and remained family-owned for four generations. Owner Bruce Bass, who bought the business in 2004, said he began exploring an exit after none of his children entered the family trade.

1850 managing director Yogi Singh said the firm’s investment reflects a broader strategy. “This was an opportunity to acquire a business that services a large swath of the industrial sector with a customer list that is so expansive, that I think it would be hard for us to find ourselves in a situation where the service we provide becomes obsolete.”

1850 Investments portfolio includes campgrounds, cold storage and real estate, and signalled plans for additional acquisitions in logistics and fuel storage.