Here’s What No One Tells You About Warren Buffett And His Crane Business

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Warren Buffett Marmon Crane Services

Warren Buffett, the successful American investment guru who is the chairman and CEO of Berkshire Hathaway has under the eyes of many, build a huge crane empire through its investment in Marmon Group.

Though none of the companies which are under the huge investment is reported in the KHL IC50, it is believed that under its current umbrella of investment, it actually makes him one of the largest crane owners in the world!

Check out the timeline below.

Berkshire Hathaway acquires Marmon Holdings

  • 2008

Berkshire Hathaway successfully completed its acquisition of 60% of Marmon for US$ 4.5 billion. Among Marmon business sectors, they owned Marmon Crane Services.

Marmon's crane business originated with Sterling Crane in western Canada in 1954.

2008
2012

Marmon acquires Freo Group

  • 2012

In early 2012, Marmon's  Sterling Crane acquired Western Australia-based Freo Group and its Queensland subsidiary Global Crane.

Astha Sterling Crane formed in India

  • 2012

Along with this, a joint venture has been formed called Astha Sterling Crane, in India. Under its arm, they also owned Procrane Sales Inc, which is the authorized distributor for crane manufactured by Tadano and Broderson.

2012
2018

Marmon acquires WGC

  • 2018

WGC Crane Group was acquired by Marmon newly-created subsidiary, Marmon Crane Australia for an undisclosed sum.

Marmon Crane Services acquired Joyce Crane

  • 2019

Marmon has acquired Joyce Crane for an undisclosed fee. The crane company are located in the Ark-La-Tex region, five strategically located terminal, a staff of over 160 professionals, and 30 years of service in the crane industry.

The company will operate under its current name.

2019
2019

Sterling acquires Entrec Corporation

  • 2019

Entrec Corporation has entered into an agreement to sell its business to Sterling Crane, part of Marmon Crane Services for US$ 21.2 million. Back in 2016, Entrec Corp acquired HighMark Crane Ltd that specialized in providing services in the power transmission, mining and commercial construction industries across Canada.