06.02.2007

Willy O’Brien looking to sell

William O’Brien Crane Hire of Cork, the fifth largest crane hire company in the UK &Ireland 2006 Cranes&Access Top 30, has appointed Merrion Capital to find a buyer for the business.

Willy O’Brien founded the company around almost 50 years ago, handing over to his son William O’Brien Jnr, 39, in 1996. He had worked for Shell Oil before joining the family firm.

The business is based in Bishopstown,Cork, with depots in Limerick, Waterford and Cahir, it is the largest crane company in the region, employing around 85 staff with 76 cranes.
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William O'Brien (L) and William Jnr (R) presenting a cheque to a childrens charity last year.

Revenues passed the €10 million mark in 2005 and has assets in the region of €15 million. Local sources say that the company could fetch €15 million from the right buyer.

Vertikal Comment

Willy and William O’Brien have considered selling the business for some time, the problem has been finding a buyer that would pay the premium that its strong financial performance should command.

Clearly they have now decided that the current market is as good as it is likely to get, and have therefore appointed a professional company to market the business.

With long delivery times and high used crane prices this is the best time to find a buyer. The question is Who? Crane hire is not a business for the faint hearted and these days it has few ‘incomers’ while there are very few if any European crane business actively on the acquisition trail.

It will be interesting.