VRA Partners Advises the Southway Crane & Rigging Group of Companies in its Sale to TNT Crane & Rigging
VRA Partners, LLC is pleased to announce that the Southway Crane & Rigging Group of Companies ("Southway" or the "Company"), one of the leading providers of crane rental services in the Southeast, has been acquired by TNT Crane & Rigging, Inc. ("TNT"). TNT, based in Houston, Texas, is a portfolio company of Odyssey Investment Partners. VRA Partners initiated this transaction and acted as exclusive financial advisor to Southway. The transaction closed on December 27, 2012. Terms of the transaction were not disclosed.
Founded in Macon, Georgia, in 1991, Southway is one of the leading providers of crane rental services in the Southeast. The Company has eight locations throughout Georgia, South Carolina, Tennessee and Florida, and serves a variety of industries, including chemical, commercial and industrial manufacturing, paper, government, power and utilities, and telecommunications. Southway's large and diverse fleet of cranes includes cranes of all sizes, ranging from 15-tons to 800-tons. In addition, the Company also offers heavy hauling and rigging services.
Founded in 1985, TNT is a leading crane rental services company serving the Texas, Louisiana and Oklahoma region. TNT provides crane rental and rigging services primarily to the refinery, oil & gas, petrochemical, power and commercial end markets. Operating through eleven branches across three states, TNT owns one of the largest and most diverse mobile crane fleets in the region. The addition of Southway to TNT will expand TNT's crane fleet and extend TNT's reach throughout the Southeast.
VRA Partners, an independent Atlanta-based investment bank, focuses on providing M&A services to middle-market companies and private equity firms. VRA Partners also assists companies with raising capital for growth, acquisitions, recapitalization, going-private and management buy-out transactions, as well as provides fairness opinions, valuations and strategic advisory services. The professionals of VRA Partners have completed more than 500 transactions across a broad range of industry sectors, including business services, consumer and retail, healthcare, industrial, media and technology. VRA Partners, LLC is a Member FINRA/SIPC. For more information, please visit our website at www.vrapartners.com.
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Chris Reilly, Director - Originations