TNT merges with Allison7 August 2018 by Sotiris Kanaris
US lifting services provider TNT Crane & Rigging has merged with Allison Crane & Rigging. The financial terms of the transaction were not disclosed.
Allison, founded in 1976, is a full-service mobile crane provider primarily serving the Utica and Marcellus shale basins from its branch in Williamsport, Pennsylvania and the Permian basin from its branch in Pecos, Texas. It operates 30 cranes with an average age under five years old, serving the oil and gas sector as well as the pulp and paper, bridge and road construction and other commercial industries.
TNT, founded in 1985, is a portfolio company of First Reserve, a leading global private equity investment firm exclusively focused on energy. Its fleet consists of hydraulic truck, all terrain, tower and crawler cranes with lifting capacity up to 900t, plus a comprehensive inventory of gantry jacks, forklifts, rigging equipment, and tractor/trailers.
With the addition of Allison Crane, the company now has approximately 1,700 employees and a fleet in excess of 700 cranes.
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 entity.
Gary Reaves, managing director at First Reserve, commented, “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 four 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.”