Bridgeview, Pa. — Stockholders of Maxim Crane Works Holdings approved the merger agreement between Maxim Crane Works and affiliates of Platinum Equity Partners at a June 11 meeting. The agreement calls for PEP to acquire Maxim's outstanding common stock for $42.50 cash per share. The company said 79.4 percent of the outstanding shares were represented, in person or by proxy, at the special meeting, with more than 75 percent voting in favor of the deal.

The parties expect the transaction to be finalized before the end of the month.

Maxim Crane Works has 31 branches in the U.S., specializing in rental and sales of cranes and related ancillary equipment, including aerial work platforms. Based in Bridgeview, Pa., Maxim is No. 7 on the RER 100.