The change in ownership was announced on December 17 2008. Cobblestone Advisors, based in Richmond, Virginia, advised on the deal. The buyers are Boulder Brook Partners LLC, a private investment firm that acquires lower-middle market companies, and Tonka Bay Equity Partners, based in Minnetonka, Minnesota. Tonka Bay manages two private equity funds, worth $200m.

NAI has announced a series of deals in South and Central America. In Peru, is has sold two 12.5t hoists with independent or simultaneous operation of hoists/trolleys, for a sugar plant. A concrete company in Chile has bought a 12t gantry crane for outdoor Class E severe duty use. It will handle a 3mm/m (0.3%) slope on a 721ft track, and will have a span of 82ft.

In Mexico, it is building a 10t bridge crane for a paper mill, which will work in extreme heat conditions. In Colombia, it has an order for ten cranes, including three 3t semi-gantry cranes with 30ft spans, a 25t and 10t bridge crane, and five 5t bridge cranes.

It will shortly ship a 5t double girder double leg gantry crane with NEMA 4X enclosures, and a 500kg hoist and trolley for an existing cranes.