TNT Crane & Rigging Purchases the South Texas crane assets of Louisiana Crane Co.LLC
TNT Crane & Rigging (“TNT” or the “Company”) has purchased the South Texas crane assets of Louisiana Crane Co., LLC (“LA Crane”). TNT has acquired 35 cranes and ancillary assets from two LA Crane branches in San Antonio and Houston.
TNT now has in excess of 150 cranes servicing the Gulf Coast from eight branches spanning Texas and Louisiana. This includes full service capabilities ranging from boom trucks to 800 tons and a complete portfolio of rigging capabilities.
The acquired assets represent a unique opportunity to consolidate the southern portion of the Texas crane market. The transaction also stretches the reach of TNT into the Western portion of the Eagle Ford shale play.
Michael Appling Jr., President and CEO of TNT stated, “The acquisition of these Texas crane assets is a big step up for TNT in the crane industry. It puts TNT in a much better competitive position in the San Antonio market place as well as stretches our reach into the Eagle Ford shale. We need the additional assets in Houston and will be able to redeploy some of the cranes to our other branches to service their needs. We welcome the LA Crane employees to the TNT family and we look forward to working with them as we continue to grow our company.”
Logan Fournerat, President and owner of LA Crane said, “This transaction provides LA Crane additional equity to expand our investment in our fastest growing oil-field service operations in the Eagle Ford shale as well as provide funding for expansion in other strategic markets. The Company is well positioned to capitalize on the projected growth in our industry as our economy begins to rebound.”