MML Capital Partners ("MML") announces today that its portfolio company, TNT Crane & Rigging, Inc. ("TNT") has acquired the assets of Americrane LLC ("Americrane") for an undisclosed amount.
Based in the Dallas/Ft. Worth area, Americrane offers full service crane and rigging solutions. This strategic acquisition provided a compelling investment opportunity to expand geographically and acquire a modern fleet of cranes with an experienced team of operators.
Following the acquisition, TNT has 94 cranes servicing Texas and Louisiana through its branches located in Houston, Corpus Christi, San Antonio, Dallas/Ft. Worth ("DFW"), Edinburg and Lake Charles, Louisiana.
Commenting on the transaction, Michael Appling Jr., President & CEO of TNT, said: "The addition of Americrane expands our geographical coverage into North Central Texas. There is strong diversity in the DFW commercial work, industrial/power and energy related work tied primarily to the Barnett Shale. We're grateful for the continued support of our partners at MML."
TNT was advised by Porter & Hedges, LLP (legal counsel).
TNT Crane & Rigging, Inc. is a full service crane and rigging operator based in Houston, Texas. TNT owns an extensive modern fleet of hydraulic truck cranes with lifting capacities ranging from 15 to 800 tons in addition to gantry jacks, rigging, trailers and other lifting related equipment.