Wigan-based Ainscough Crane Hire — the largest mobile-crane rental company in the UK, has been taken over by US private-equity group Oaktree Capital Management, which acquired the business from Goldman Sachs and TPG, the two of which co-invested in 2012.

Oaktree, a Los Angeles investment house with an office in London, has not commented on the deal, but a trade publication, Vertikal, has quoted an internal memo from Ainscough managing director Robin Richardson, which states: “Oaktree are very excited about our plans for the future and are very keen to support us with our growth strategy. They will be visiting us in the near future but, in the meantime, let’s continue to stay focused on our business objectives.”

In the year to 31 May 2014, Ainscough — which has 455 mobile cranes, 30 depots across the country and more than 980
employees — saw its profits rise from £10.4 million to £16.6 million, with sales increasing from £109.4 million to £116.2 million.