NASHVILLE, Tennessee (December 2008) – Bailey Southwell & Co., LLC (BSC) is pleased to announce the completion of the sale of SpanDeck, Inc. (SpanDeck), a privately-held leader in manufacturing telescopic boom crawler cranes, to Tokyo-based Tadano Ltd. (Tadano), one of the world’s largest manufacturers of telescopic boom wheel-mounted cranes. The transaction was closed on December 22, 2008. BSC acted as the exclusive financial advisor to SpanDeck.
The combined organization boasts one of the most extensive lines of mobile telescopic boom cranes in the world. Tadano’s vast engineering expertise and international footprint, combined with SpanDeck’s broad knowledge of manufacturing crawler-based cranes, bode well for the combined organization’s long-term growth.
SpanDeck CFO Phillip M. Stinson commented, “We believe our future with Tadano will enhance the products and services we provide to our customers and will provide long-term opportunities to our company in an ever changing industry. BSC exceeded our expectations in identifying the best buyer, negotiating the best terms, and closing this transaction amid such difficult economic times.”
About Bailey Southwell & Co.
Bailey Southwell & Co., LLC, founded in 2005, is a privately held investment bank with offices in Nashville, Tennessee and St. Louis, Missouri. BSC provides mergers and acquisition and capital raising advisory services to middle market companies. More information about BSC can be found at www.baileysouthwell.com.
SpanDeck, Inc., headquartered in Franklin, Tennessee, USA, has established itself over the past thirty years as the world’s leading manufacturer of telescopic boom crawler cranes under the “Mantis” brand name. Today, SpanDeck is North America’s leading manufacturer with nearly a 90% market share. In addition to crawler cranes, SpanDeck also manufactures marine floating cranes and specialty railroad cranes. More information about SpanDeck can by found at www.mantiscranes.com.