23.05.2012

JP Nelson acquires Antar Cranes

Singapore based sales and rental group JP Nelson Equipment is to acquire Singapore's Antar Cranes Services from PSL Holdings, which holds 80 percent of the equity and Teo Kim Ngoh who owns the remaining 20 percent for s$18.75 million in cash. As part of the deal JP Nelson has agreed to retain Teo Kim Ngoh on board for at least three years, while PSL will retain ownership of the Antar facilities, and lease them to the new owners.

Established in 1998 Antar runs rental fleet of 39 crawler cranes and also buys and sells new and used cranes, while offering a full crane repair and maintenance service. It largely serves the construction and shipyard markets.
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An Antar crane in the yard