The business was first established in 1983 and traded from offices in Aberdeen and Grangemouth, operating a mobile fleet of nearly 30 mobile cranes of varied capacity from 40t to 750t.
Around 38 staff are being made redundant.
It is the fourth crane hirer to sink into administration this year blaming the financial impact of Covid lockdown and fierce hire competition.
Despite attempts made by the director to exit unprofitable contracts and reduce its overheads, trading losses continued and in recent months, the position deteriorated such that the director determined trading should cease.
Geoff Jacobs, managing director at insolvency practitioner Interpath Advisory, said: “Since our appointment, our focus has been to provide support to the workforce through the redundancy process, as well as safeguarding the company’s plant and equipment and arranging for the safe return of financed cranes to the appropriate providers.
“In the days ahead, we will also be seeking to market the company’s website, its well-known name and customer book, together with realising all other assets.
“We would encourage any interested parties to come forward as soon as possible.”