Advance Equipment Company

Cherry Tree advises Advance Equipment Company in its sale to the Morwest Group of Companies.

Industrial, Equipment Rental & Leasing
Tower Crane and Hoist Rentals
Saint Paul, MN
100% Sale to Strategic Buyer


Morwest Group of Companies strengthened its industry leading portfolio through the acquisition of Advance Equipment Company. Effective April 30, 2020 Advance Triwest Equipment, Ltd., a subsidiary of the Morwest Group of Companies acquired Advance Equipment Company. MORWEST Crane & Services was founded in 1988 by President and CEO Wayne Morin providing trusted crane services for over 30 years to the US and Canada.
Advance Equipment Company has been a leader in the tower crane, construction hoist and concrete pump business since 1969 serving the Midwest in the United States. The integration of Morwest Group and Advance Equipment Company combines two quality and customer focused family owned businesses serving the construction industry. Both companies have earned the trust of their customers through proven results, consistently delivering safe, cost effective and efficient service for over three decades. “The acquisition of Advance Equipment Company expands our equipment portfolio and service area allowing us to bring our industry leading solutions to more customers across North America” – Wayne Morin, President and CEO Morwest Group of Companies.

About Morwest Group of Companies

Morwest Group of Companies is the leader in the crane industry with over 30 years of proven results for their clients. They have and continue to be the most trusted crane services source throughout Canada and the USA. Morwest services clients in the Provinces of Alberta, Saskatchewan, Manitoba, British Columbia and the States of California, Iowa, Minnesota, Nebraska, North Dakota, Oregon, South Dakota, Washington and Wisconsin.

About Advance Equipment Company

Advance Equipment Company is a crane, hoist and concrete pump rental sales and service company based in Saint Paul, Minnesota. Advance has been serving the construction industry since 1969 and brings a 5-decade legacy of supporting the Midwest States of Iowa, Minnesota, Nebraska, North Dakota, South Dakota and Washington.

About Cherry Tree & Associates

Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis, Minnesota. Founded in 1980, it specializes in M&A transactions for both buyers and sellers of middle market companies. Additionally, it conducts private placements for attractive, entrepreneurially managed growth companies, provides strategic advisory services to CEOs and boards of directors, and prepares fairness opinions and other valuation services.

Cherry Tree & Associates provides investment banking services through our FINRA-licensed broker dealer.