Meridian Capital LLC (“Meridian”) is pleased to announce the successful sale of its client, Axis Crane LLC (“Axis” or the “Company”), to Westward Partners LLC (“Westward”). In connection with the transaction, Meridian served as Axis‘ exclusive M&A advisor with McCullough Hill Leary, PS serving as legal counsel.
For over 10 years, Axis has provided industrial crane services to the Pacific Northwest. With one of the largest crane fleets in the region, the Company specializes in crane rental, rigging, pile driving and heavy hauling services for industrial maintenance and contracting needs.
“Due to the tremendous effort over the past decade by Company President Travis Wilt and his team, Axis has grown to become a leader in the Pacific Northwest and a trusted partner,” mentioned, Andy Baldridge, founder and partner at Westward. “We have identified a number of areas for growth which we will be pursuing during 2013 and we believe we have the right team and resources in place to execute on these opportunities.”
Westward is a Seattle-based private equity firm focused on producing attractive long-term returns through investments in privately held companies. Westward invests in companies located in Western North America, with revenues between $10 million and $75 million. The firm partners with strong management teams in closely-held businesses to build long-term value for its investors, portfolio company employees, and executives.
Chuck Wilke, managing director at Meridian Capital commented on the transaction, “Meridian Capital is pleased to have been able to represent the Axis shareholders in completing this important transaction. Axis’ established reputation for service excellence in the Pacific Northwest led to an attractive outcome for all of the parties in the transaction.”