01.08.2018

TNT merges with Allison

Texas based TNT Crane & Rigging has merged with Pennsylvania based Allison Crane & Rigging.

TNT is a subsidiary of First Reserve, a private equity investment company exclusively focused on the energy sector. The merger will combine TNT’s 700 cranes across 44 branches in the USA with Allison’s fleet of 30 cranes. It also allows TNT to expand its geographic and oil & gas operations to include Allison’s locations in Pennsylvania and the Permian’s Delaware Basin in Pecos, Texas.

The companies say that the merger will better serve customers with greater range of cranes and services, and that employees will have more opportunities within a larger business. Financial terms of the deal have not been disclosed.

TNT chief executive Michael Appling retain his position within the larger company. Allison president Larry Allison will remain with the company as a significant shareholder and member of the executive management team of TNT.
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Appling 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 that we have 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.”

Allison added: “My grandfather started Allison and the legacy continued with my father, Larry senior, 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.”

First Reserve managing director Gary Reaves added: “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 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.”