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TNT Crane & Rigging Merges with Allison Crane & Rigging


July 31 2018 - TNT Crane & Rigging Inc. (TNT) has merged with Allison Crane & Rigging (Allison). Allison is a full-service mobile crane provider primarily serving the Utica and Marcellus shale basins from its branch in Williamsport, Pa., and the Permian basin from its branch in Pecos, Texas. TNT is a portfolio company of First Reserve, a leading global private equity investment firm focused exclusively on energy.

Allison was founded in 1976 and has a long history of operational excellence and world-class service through three generations of the Allison family. Allison operates 30 cranes averaging less than 5 years old. It serves the oil and gas market, as well as pulp and paper, bridge and road construction, and other commercial industries.

 

The merger has furthered TNT’s presence as a national lifting services provider by expanding its geographic operations to include the shale resources of Pennsylvania and the Permian’s Delaware Basin.

 

 

TNT now operates about 700 cranes through 44 branches across North America and provides full-service capabilities with all-terrain, truck-mounted, rough-terrain, crawler, and tower cranes, plus mobile gantries and rigging solutions. Its lifting capacities range from 3 to 900 tons.  

 

 

                                                                              

 

The merger will benefit both customers and employees, said TNT in a news release. Customers will be better served from a larger and stronger company that offers more-diverse assets. Employees will have more opportunities in a larger extended family. And the larger company has the expanded fleet, bigger geographic footprint, and larger workforce to serve new customers.

 

Larry Allison Jr., president of Allison, will continue in his current role and be a significant shareholder and member of the executive management team of TNT.  Michael Appling Jr., CEO of TNT, also remains in his position overseeing the merged company.

 

Michael Appling Jr. said, “TNT’s partnership with Allison demonstrates our company’s commitment to leadership in the crane and rigging industry and further strengthens our position and market share supporting the nation’s oil and natural gas resource development.  We have an excellent relationship with Larry Jr. that we’ve developed over many years, and we welcome him and the Allison employees to the TNT family.  We look forward to working with them as we continue to grow our business and provide tremendous opportunity to our employees.”

 

Larry Allison Jr. added, “My grandfather started Allison and the legacy continued with my father, Larry Sr.  TNT is the right partner for Allison at this point in the growth and development of our business.  We have been blessed with amazing employees that have made us who we are today.  This merger will allow us to continue to provide superior service to our customers and most importantly expanded opportunities for our employees.”

 

Gary Reaves, Managing Director at First Reserve, commented, “We continue to be impressed by the capabilities of the TNT team and their commitment to providing customers with safe, reliable crane and rigging operations.  We are delighted to welcome the Allison employees to the TNT family and believe there is a great cultural fit between the companies.  Since First Reserve’s initial investment in 2013, TNT has completed 4 add-on transactions, continuing to transform the business into one that we believe has built significant value as a provider of national scale.  In our view, the Allison merger further enhances TNT’s service offering to its clients, and we look forward to continued momentum.”

 

Financial terms of the transaction were not disclosed.

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