L Squared, an investment firm headquartered in Newport Beach, CA, completed the acquisition of Crane 1, one of the largest providers of overhead Crane MRO services and equipment in the United States. Financial terms were not disclosed. "L Squared is well suited to add value as Crane 1’s new partner given their proven consolidation playbook across multiple industries. Crane 1 enjoys strong momentum with our loyal customer base because of the commitment of our team, especially our front-line technicians. We look forward to continued growth with a focus on safety and building upon our reputation as the “employer of choice” for top technician talent," Bob Vevoda, Crane 1 CEO.