Hammond Kennedy finances company buyout

The Indianapolis private-equity firm Hammond Kennedy Whitney & Co. Inc. has financed the recapitalization of Crane Rental Corp. of Orlando, Fla.

Hammond Kennedy partner Jim Snyder said the value of the deal was more than $60 million, and involved the existing president of the family-owned company remaining in the post and holding a minority equity stake. Hammond Kennedy bought the majority stake.

Crane Rental is one of the country’s largest crane-rental, hauling and rigging companies.

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