Uperio ups stake in P&J Arcomet
French international tower crane group Uperio has acquired the remaining 50 percent holding in US based tower crane company P&J Arcomet.
P&J Arcomet was set up in 2005 as a 50/50 joint venture between Arcomet - which is now part of Uperio - and P&J Cranes, which was established in the greater Washington, DC area, by Stephen & Peter Jehle in 2000. The joint venture opened a southern operation in Dallas, Texas, in 2008, and more recently opened an office in Georgia to support customers in the southeast.
The company, which is based in Manassas, Virginia, is the exclusive distributor for Chinese built Zoomlion Tower Cranes in North America and operates a fleet of more than 100 cranes with 60 employees across 16 states.
Uperio chief executive Philippe Cohet, said: “We thank Stephen and Peter Jehle for their trust in the Uperio group’s ability to continue the very successful story of P&J Arcomet over the last 20 years. For our group, this is an important and strategic move to fully consolidate the business in North America and leverage the company’s reputation for quality, it’s talented team and technical strengths to further develop and grow our market share. We are excited about the prospects in the tower cranes rental, sales and services market."
P&J Arcomet president Stephen Jehle, added: “Arcomet and now Uperio, has been a great partner and after 20 years, we felt the time was right for P&J Arcomet to be fully integrated with the global leader of our industry and further strengthen our position with further group synergies. I am confident in the new chapter in P&J Arcomet’s history that begins today, while our values and principles will remain in place. I wish to take the opportunity of this event to thank our teammates, associates, customers, and partners for their support over the last twenty years.”
Uperio was formed from the merger of Belgian crane company Arcomet and French tower crane company Matebat - see: A new name in tower cranes
. Today the business has revenues of more than €200 million and runs a fleet of 2,100 cranes across 22 locations in eight countries with 570 employees.