Home › Selling a Crane and Rigging Business in 2026: Multiples, Named Buyers, and the Operator Playbook

Selling a Crane and Rigging Business in 2026: Multiples, Named Buyers, and the Operator Playbook

Quick Answer

A US crane and rigging business in 2026 typically sells for roughly 5x to 10x EBITDA, varying heavily by fleet composition, capacity range (taxi cranes vs. large crawler / Manitowoc-class), industrial vs. construction mix, customer roster (data center, refinery, wind energy, utility), and union vs. open-shop classification. The crane / rigging M&A market is one of the steadier specialty-construction consolidations because of IIJA infrastructure spending, data center build-out, wind/solar build-out, manufacturing reshoring (CHIPS Act, IRA), and continued PE interest in asset-heavy specialty services. By profile: a small owner-operator taxi-crane operation ($300k-1M SDE) goes 3x-5x SDE; a profitable mid-size mixed-fleet contractor ($1-4M EBITDA) goes 4x-6x EBITDA; a regional crane and rigging platform with industrial customer mix ($4-12M EBITDA) goes 5x-8x EBITDA; a premium regional platform with large-tonnage fleet, industrial mix, and named customer rosters ($12M+ EBITDA) reaches 7x-10x+; specialty heavy-lift / engineered-lift operators with multi-state reach can hit 8x-10x. Active buyers include ALL Family of Companies (private, the largest US crane rental company with ~30+ branches across 9 states), Maxim Crane Works (Apollo Global Management, second-largest US crane rental company with ~60+ branches), Bigge Crane and Rigging (private, large West Coast operator), Sims Crane & Equipment (private, Florida-dominant), Barnhart Crane & Rigging (private, specialty heavy-lift), TNT Crane & Rigging (Berkshire Partners, recently acquired by Apollo via Maxim in 2024), Brandsafway Industries (Brookfield Asset Management, scaffolding + access + crane), Bigfoot Crane Company, Sterett Companies (private, the largest US heavy-haul + crane company), United Rentals (NYSE: URI, ~$15B+ revenue, broad equipment-rental aggregation with crane exposure), Sunbelt Rentals (Ashtead Group LSE: AHT), Herc Holdings (NYSE: HRI), plus PE sponsors (Apollo Global Management, Berkshire Partners, Brookfield Asset Management, Wynnchurch Capital, Sterling Group, Court Square Capital Partners, Aurora Capital Partners, MidOcean Partners, J.F. Lehman & Company on infrastructure-services). The biggest multiple drivers are fleet composition (large-tonnage Manitowoc / Liebherr crawler cranes vs. small taxi cranes), industrial customer mix (data center, refinery, wind energy, utility, manufacturing reshoring), EHS track record (OSHA EMR, recordable incident rate, NCCCO operator certification rate), and CCO (Crane Operator) certification coverage. Buyer-paid M&A advisory (CT Strategic Partners) costs the seller nothing.

If you own a US crane and rigging business in 2026, the M&A market is one of the steadier specialty-construction consolidations. ALL Family of Companies (private, ~30+ branches across 9 states) is the largest US crane rental operator. Maxim Crane Works (Apollo Global Management, ~60+ branches, expanded via 2024 TNT Crane & Rigging acquisition) is the second-largest. Bigge Crane, Sims Crane, Barnhart Crane, Sterett Companies, and Brandsafway (Brookfield) compete. United Rentals (NYSE: URI), Sunbelt Rentals (Ashtead LSE: AHT), and Herc Holdings (NYSE: HRI) absorb selective crane platforms at the public-company level. IIJA infrastructure, data center build-out, wind/solar build-out, and manufacturing reshoring (CHIPS Act, IRA) are driving sustained demand.

What the asset is worth depends on three things: (1) fleet composition (large-tonnage Manitowoc / Liebherr crawler cranes are a multiple-builder vs. small taxi-only fleets), (2) industrial customer mix (data center, refinery, wind energy, utility, manufacturing reshoring are premium customers), and (3) EHS track record plus NCCCO operator certification coverage. This guide covers real multiples by profile, the named buyers transacting, and the operator-level diligence buyers will run.

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What this guide covers

Crane & rigging multiples 2026: 3x-5x SDE for small owner-operator taxi-crane operation, 4x-6x EBITDA for mid-size mixed-fleet contractor, 5x-8x EBITDA for regional platform with industrial customer mix, 7x-10x+ for premium regional with large-tonnage fleet and named customer rosters, 8x-10x for specialty heavy-lift / engineered-lift operators with multi-state reach.
Active buyers: ALL Family of Companies (private, ~30+ branches across 9 states, the largest US crane rental company), Maxim Crane Works (Apollo Global Management, ~60+ branches post-TNT acquisition), Bigge Crane and Rigging (private, large West Coast), Sims Crane & Equipment (private, Florida-dominant), Barnhart Crane & Rigging (private, specialty heavy-lift), Brandsafway Industries (Brookfield Asset Management), Bigfoot Crane, Sterett Companies, plus public absorbers United Rentals (NYSE: URI), Sunbelt Rentals (Ashtead LSE: AHT), Herc Holdings (NYSE: HRI).
PE sponsor activity: Apollo Global Management (Maxim, post-TNT 2024), Berkshire Partners (prior TNT sponsor), Brookfield Asset Management (Brandsafway), Wynnchurch Capital, Sterling Group, Court Square Capital Partners, Aurora Capital Partners, MidOcean Partners, J.F. Lehman & Company (infrastructure-services).
Multiple drivers: fleet composition (large-tonnage Manitowoc / Liebherr crawler cranes), industrial customer mix (data center, refinery, wind energy, utility, manufacturing reshoring), EHS track record (OSHA EMR, recordable incident rate), NCCCO operator certification coverage, multi-state platform reach.
Things that compress: taxi-only fleet without large-tonnage capacity, residential / small-commercial customer concentration, weak EHS / elevated EMR, weak NCCCO certification coverage, owner-operator dependence, single-territory operations, weak workers’-comp posture.
Sellers pay nothing on CT Strategic Partners’ buyer-paid advisory.

Named M&A transactions (2021-2025)

Target	Buyer	Year	What it tells us
Apollo acquired TNT Crane & Rigging via Maxim Crane Works merger	Apollo Global Management (Maxim Crane Works)	2024	Maxim Crane Works (Apollo) merged with TNT Crane & Rigging (Berkshire Partners), creating the second-largest US crane rental company at ~60+ branches.
ALL Family continued platform expansion	Private (ALL Family of Companies)	2022-2025	Largest US crane rental company continues regional expansion across 9 states.
Brandsafway continued growth	Brookfield Asset Management	2022-2025	Scaffolding + access + crane platform continues regional tuck-ins.
Sterett Companies heavy-haul growth	Private (Sterett)	2022-2025	Largest US heavy-haul + crane company continues organic + selective tuck-in growth.
Multiple regional crane and rigging tuck-ins	Various PE-backed platforms	2022-2025	PE sponsors (Apollo, Brookfield, Wynnchurch, Sterling Group, Court Square, Aurora, MidOcean, J.F. Lehman) continue selective regional consolidation.

The named buyer landscape

Pure-play crane and rigging consolidators (the most aggressive)

Maxim Crane Works (Apollo Global Management, ~60+ branches post-TNT acquisition 2024) — second-largest US crane rental company.
ALL Family of Companies (private, ~30+ branches across 9 states) — largest US crane rental company.
Bigge Crane and Rigging (private) — large West Coast operator.
Barnhart Crane & Rigging (private) — specialty heavy-lift and engineered-lift.
Sims Crane & Equipment (private) — Florida-dominant.
Sterett Companies (private) — the largest US heavy-haul + crane company.
Bigfoot Crane Company, Crane Industry Services, regional dedicated competitors.

Public equipment-rental absorbers (NYSE/NASDAQ/LSE)

United Rentals (NYSE: URI, ~$15B+ revenue) — the largest US equipment-rental aggregator with selective crane exposure.
Sunbelt Rentals (Ashtead Group LSE: AHT, ~$10B+ revenue) — second-largest US equipment-rental aggregator.
Herc Holdings (NYSE: HRI, ~$3B+ revenue) — third-largest US equipment-rental aggregator.
Brandsafway Industries (Brookfield Asset Management) — scaffolding + access + crane platform.

PE sponsors active in this space

Apollo Global Management (Maxim Crane Works, including 2024 TNT acquisition), Brookfield Asset Management (Brandsafway), Berkshire Partners (prior TNT sponsor), Wynnchurch Capital, Sterling Group, Court Square Capital Partners, Aurora Capital Partners, MidOcean Partners, J.F. Lehman & Company (infrastructure-services), plus multiple equipment-rental and specialty-construction PE funds.

What each buyer will pay for vs. what they reject

Will pay premium for: large-tonnage Manitowoc / Liebherr crawler crane fleet, named industrial customer roster (Big Tech hyperscaler data centers, refineries, wind/solar EPCs, utilities, semiconductor reshoring projects), strong EHS track record (OSHA EMR below 0.9, low recordable incident rate), NCCCO operator certification coverage (100%), multi-state platform scale, modern fleet age, signed master service agreements (MSAs) with named industrial customers, AED (Associated Equipment Distributors) and SC&RA (Specialized Carriers & Rigging Association) membership.
Will compress or reject: taxi-only fleet without large-tonnage capacity, residential / small-commercial customer concentration, weak EHS history / elevated EMR, weak NCCCO certification coverage, owner-operator dependence, single-territory operations, old / mixed / poorly-maintained fleet, weak workers’-comp posture, no MSA backlog with industrial customers.

The operator-level KPI playbook buyers will diligence

Fleet composition

Total crane count by class (taxi / boom / rough-terrain / crawler).
Tonnage range (small <50t, mid 50-200t, large 200-500t, super-large 500t+).
Fleet age and book value.
Manitowoc / Liebherr / Terex / Tadano OEM mix.
Specialty equipment (engineered lifts, gantries, jacking systems).

Customer and revenue mix

Industrial customer revenue mix (data center, refinery, wind, utility, semiconductor).
Commercial construction revenue mix.
Residential and small-commercial revenue mix.
MSA backlog with industrial customers.
Rental vs. fully-operated revenue.

EHS and certifications

OSHA EMR (target below 0.9).
Recordable incident rate.
NCCCO operator certification rate (target 100%).
SC&RA membership.
AED membership.

Workforce

Operator count and NCCCO certification status.
Rigger / signal-person count and certifications.
Driver count, CDL status, and DOT compliance.
Union vs. open-shop classification.

Geography and utilization

Branch count and footprint.
State-by-state revenue distribution.
Crane utilization rate (revenue hours / available hours).
Fleet repositioning logistics.

Dangers and traps

1. Taxi-only fleet without large-tonnage capacity

Large-tonnage Manitowoc / Liebherr crawler cranes unlock premium project mix.

2. Residential / small-commercial customer concentration

Industrial customers (data center, refinery, wind, utility) are the multiple-builder.

3. Weak EHS / elevated OSHA EMR

Above-industry EMR is a hard compressor and an industrial-customer disqualifier.

4. Weak NCCCO certification coverage

Industrial customers require 100% NCCCO-certified operators.

5. Owner-operator dependence

Build the dispatcher / superintendent / sales bench.

6. Single-territory operations

Multi-state platforms achieve premium multiples.

7. Old or poorly-maintained fleet

Fleet age and maintenance posture affect both diligence and balance-sheet value.

8. No MSA backlog with industrial customers

Signed MSAs are the credibility floor for premium multiples.

Our POV in 2026

Crane and rigging M&A is anchored by Maxim Crane Works (Apollo Global Management, ~60+ branches post-TNT 2024) and ALL Family of Companies (~30+ branches). Bigge Crane, Barnhart Crane, Sims Crane, Sterett Companies, and Brandsafway (Brookfield Asset Management) compete in the dedicated platform tier. United Rentals (NYSE: URI), Sunbelt Rentals (Ashtead LSE: AHT), and Herc Holdings (NYSE: HRI) absorb selective platforms. IIJA infrastructure spending, data center build-out, wind/solar build-out, and manufacturing reshoring (CHIPS Act, IRA) are sustaining demand.

The right time to prepare is 12-18 months before going to market — lock in MSAs with industrial customers, drive NCCCO certification to 100%, get OSHA EMR below 0.9, modernize fleet, and document industrial-customer revenue mix.

Preparing your business for sale: 12-18 months out

Get multi-year audited or reviewed financials.
Lock in MSAs with industrial customers (data center, refinery, wind/solar, utility, semiconductor).
Drive NCCCO operator certification to 100%.
Drive OSHA EMR below 0.9; document recordable incident rate.
Modernize fleet composition (Manitowoc / Liebherr / Tadano large-tonnage).
Document utilization rates by crane class.
Build the dispatcher / superintendent / sales bench.
Resolve union vs. open-shop classification clarity by region.
Join SC&RA and AED (industry credibility for diligence).
Run a competitive process. Maxim Crane Works (Apollo Global Management), ALL Family of Companies, Bigge Crane and Rigging, Sims Crane & Equipment, Barnhart Crane & Rigging, Sterett Companies, Brandsafway Industries (Brookfield Asset Management), United Rentals (NYSE: URI), Sunbelt Rentals (Ashtead LSE: AHT), Herc Holdings (NYSE: HRI), plus PE sponsors directly (Apollo Global Management, Brookfield Asset Management, Berkshire Partners, Wynnchurch Capital, Sterling Group, Court Square Capital Partners, Aurora Capital Partners, MidOcean Partners, J.F. Lehman & Company).

About the Author

Christoph Totter is the founder of CT Acquisitions, a buy-side partner headquartered in Sheridan, Wyoming. We work directly with 76+ buyers, search funders, family offices, lower middle-market PE, and strategic consolidators, including direct mandates with the largest home services consolidators that other intermediaries can’t access. The buyers pay us when a deal closes, not the seller. No retainer, no exclusivity, no contract until close. Connect on LinkedIn · Get in touch

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Frequently asked questions

What is the typical multiple for a crane and rigging business in 2026?

Small owner-operator taxi-crane operations ($300k-1M SDE) typically sell at 3x-5x SDE. Mid-size mixed-fleet contractors ($1-4M EBITDA) go 4x-6x EBITDA. Regional crane and rigging platforms with industrial customer mix ($4-12M EBITDA) go 5x-8x EBITDA. Premium regional platforms with large-tonnage fleet, industrial mix, and named customer rosters ($12M+ EBITDA) reach 7x-10x+. Specialty heavy-lift / engineered-lift operators with multi-state reach can hit 8x-10x.

Who are the active buyers of crane and rigging businesses right now?

Pure-play crane consolidators: Maxim Crane Works (Apollo Global Management, ~60+ branches post-TNT 2024 acquisition), ALL Family of Companies (private, ~30+ branches across 9 states), Bigge Crane and Rigging (private), Barnhart Crane & Rigging (private, heavy-lift specialty), Sims Crane & Equipment (private), Sterett Companies (private). Public equipment-rental absorbers: United Rentals (NYSE: URI, ~$15B+ revenue), Sunbelt Rentals (Ashtead Group LSE: AHT, ~$10B+ revenue), Herc Holdings (NYSE: HRI, ~$3B+ revenue). Diversified specialty-construction: Brandsafway Industries (Brookfield Asset Management). PE sponsors: Apollo Global Management, Brookfield Asset Management, Berkshire Partners, Wynnchurch Capital, Sterling Group, Court Square Capital Partners, Aurora Capital Partners, MidOcean Partners, J.F. Lehman & Company.

What hurts a crane and rigging business’s valuation most?

Taxi-only fleet without large-tonnage capacity (large-tonnage Manitowoc / Liebherr crawler cranes are the multiple-builder), residential / small-commercial customer concentration (industrial customers are the premium), weak EHS history with above-industry OSHA EMR (above 0.9), weak NCCCO operator certification coverage (industrial customers require 100%), owner-operator dependence, single-territory operations, old or poorly-maintained fleet, weak workers’-comp posture, no MSA backlog with industrial customers.

Why is industrial customer mix so important?

Industrial customers (data center, refinery, wind / solar EPCs, utility, manufacturing reshoring under CHIPS Act / IRA) provide multi-year MSA backlog with predictable cash flow vs. one-time commercial construction project revenue. Operators with 50%+ industrial revenue mix achieve premium multiples. IIJA infrastructure spending, data center build-out, wind/solar build-out, and semiconductor reshoring are sustaining industrial demand through 2030.

Do I have to pay a broker fee?

No. CT Strategic Partners runs a buyer-paid M&A advisory model. The seller pays nothing. The buyer pays the success fee at closing.

How long does it take to sell a crane and rigging business?

Once you go to market with a buyer-paid advisor, a typical process runs 5-9 months from initial outreach to closing. Add 12-18 months of preparation work before going to market — especially around MSA backlog, NCCCO certification, EHS metrics, and fleet modernization.

Should I pursue NCCCO certification before selling?

Yes — if you don’t already have 100% operator coverage. NCCCO certification is non-negotiable for industrial customers and a clear multiple-builder. Drive certification to 100% during pre-sale preparation.

When should I start preparing if I plan to sell in 2027 or 2028?

12-18 months before going to market is the right window. Highest-leverage pre-sale work: lock in MSAs with industrial customers, drive NCCCO certification to 100%, get OSHA EMR below 0.9, modernize fleet composition, document utilization rates by crane class, build the dispatcher / superintendent / sales bench.