M&A Deal Summary

First Reserve Acquires TNT Crane & Rigging

On October 22, 2013, private equity firm First Reserve acquired business services company TNT Crane & Rigging from Odyssey Investment Partners

Acquisition Highlights
  • This is First Reserve’s 2nd transaction in the Business Services sector.
  • This is First Reserve’s 50th transaction in the United States.
  • This is First Reserve’s 23rd transaction in Texas.

M&A Deal Summary
Date 2013-10-22
Target TNT Crane & Rigging
Sector Business Services
Buyer(s) First Reserve
Sellers(s) Odyssey Investment Partners
Deal Type Secondary Buyout

Target

TNT Crane & Rigging

Houston, Texas, United States
TNT Crane & Rigging is a mobile crane rental company serving the Louisiana and Oklahoma region. TNT provides crane rental and rigging services primarily to the refinery, oil & gas, petrochemical, power and commercial end markets. The Company owns one of the largest and most diverse mobile crane fleets in the region, with cranes ranging in size from 15-tons to 800-tons. TNT Crane & Rigging was founded in 1985 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

First Reserve

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 32.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

First Reserve is a specialist private equity firm focused on investments in energy companies. First Reserve targets equity investments of $50 to $500 million in companies valued from $100 million to $10 billion. Target areas of interest within the energy industry include energy manufacturing and services (drilling service providers and wellhead equipment manufacturers), energy infrastructure, energy reserves, renewable energy and alternative fuels, and energy related insurance and financial products. First Reserve was established in 1983 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 79 of 109
Sector (Business Services) 2 of 4
Type (Secondary Buyout) 5 of 10
State (Texas) 23 of 38
Country (United States) 50 of 73
Year (2013) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-04 Ansaldo Energia

Genova, Italy

Ansaldo Energia is an international player in the power generation industry, to which it brings an integrated model embracing turnkey power plants construction, power equipment (gas & steam turbines, generators, and microturbines), manufacturing and services, and nuclear activities.​ Ansaldo Energia is active as a full-service provider with a broad portfolio of heavy-duty gas turbines offering complete maintenance solutions on power generation rotating equipment and plants, built both by itself or by other OEMs. Ansaldo Energia was founded in 1853 and is based in Genova, Italy.

Sell €774M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-26 BrandSafway

Atlanta, Georgia, United States

BrandSafway is a provider of specialized services to the global energy, industrial, and infrastructure markets. Its range of service offerings includes work access, corrosion management, atmospheric and immersion coatings, insulation services, fireproofing and refractory, mechanical services, forming and shoring, and other complementary specialty services. Brand delivers its services through a network of more than 370 branches on six continents, with a focus on the major hydrocarbon and power generation markets globally. BrandSafway was founded in 1919 and is based in Atlanta, Georgia.

Sell -

Seller(S) 1

SELLER

Odyssey Investment Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 8.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Odyssey Investments is a private equity firm that seeks control/majority investments in middle-market companies. Odyssey looks to back existing management and make investments in the form of leveraged acquisitions, growth financings and recapitalizations. Sectors of interest include industrial manufacturing, business and financial services, aerospace products and services, and 'route-based services'. Odyssey Investment Partners is based in New York City with an additional office in Woodland Hills, California.

DEAL STATS #
Overall 18 of 35
Sector (Business Services) 2 of 5
Type (Secondary Buyout) 11 of 20
State (Texas) 2 of 3
Country (United States) 17 of 34
Year (2013) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-19 Cross Country Pipeline Supply

Aurora, Colorado, United States

Cross Country Pipeline Supply provides specialized equipment to the domestic pipeline construction industry for rent and sale. The Company’s customers are typically pipeline contractors engaged by energy companies to construct new pipeline or retrofit or repair existing lines. Cross Country also sells consumable parts and supplies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-25 One Call

Jacksonville, Florida, United States

One Call is a provider of specialized services to the workers' compensation industry that lead to faster, more efficient, and more cost-effective claims resolution. From high-end diagnostics and physical therapy services to post-discharge and in-home and complex care management, to transportation and language services, to superior dental programs and other medical specialties, One Call provides reliable, consistent connections to care that enable maximum medical improvement and superior outcomes. One Call was formed in 2012 and is based in Jacksonville, Florida.

Sell -
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