TNT Crane & Rigging, Inc. announced that its subsidiary, Allison Crane & Rigging, has acquired the crane division assets from Affirm.
With this acquisition, Allison adds 12 cranes to its fleet, ranging in capacity from 90-tons to 350-tons, enhancing its ability to provide world-class service and operational excellence to its customers. The additional cranes also allow TNT to service its customers more broadly. Allison's fleet now totals more than 40 cranes. Allison will also be adding over 30 employees including operations management and 26 crane operators.
Mike Appling, CEO of TNT stated, "This acquisition reinforces TNT's commitment to leadership in the crane and rigging industry and further strengthens our position and market share supporting the nation's current crane demands. The crane market will continue to see consolidation and we will continue to lead through strategic acquisitions such as Affirm. We are most thankful to be welcoming these talented individuals to the TNT family particularly in today's tight labor market."
Larry Allison, President of Allison, commented, "This is an exciting opportunity to better serve our customers in the Permian basin. They are planning now for the ramp in activity as additional pipeline takeaway capacity comes on line later this year. Following this transaction TNT and Allison now have a combined fleet of over 70 cranes stationed in Midland and Pecos to cover that demand. Nobody can match the depth and breadth of our fleet."
Financial terms of the transaction were not disclosed.
