One-Time Neff Rental Owner Acquires TNT Crane and Rigging

Odyssey Investment Partners LLC acquired mobile crane rental company TNT Crane and Rigging Inc. from MML Capital Partners. Financial terms of the transaction were not disclosed.

Headquartered in Houston, Texas, with eight branches across Texas, Louisiana and Oklahoma, TNT provides crane rental and rigging services primarily to the refinery, petrochemical, power, commercial and oil and gas end markets. The fast-growing company founded in 1985 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. In addition, the company offers full-service rigging solutions using a portfolio of specialized rigging equipment.

Bill Hopkins, a managing principal of Odyssey, said: "We have a long and successful history supporting and building businesses in the industrial equipment rental and services industries; we believe that TNT is a tremendous opportunity."

The entire TNT management team, including Mike Appling (president and CEO), Deana Haygood (CFO), Randy Dobbs and Pat Tesson, are investors in the transaction and will continue to lead the company under Odyssey's ownership.

"Odyssey has a deep knowledge and understanding of the rental services industry and our particular end markets," said Appling. "We believe Odyssey will prove to be an invaluable resource and strategic partner to TNT as we continue to grow the business."

Odyssey's experience investing in industrial rental and localized service businesses includes Williams Scotsman Inc., a leading provider of mobile office and storage units leased through a national network of branches; Neff Corp., a leading construction equipment rental company with coast-to-coast branch locations; ETS in the temporary liquid and solid storage containment rental business; and Safway, a North American scaffolding services and access solutions company.

Stifel Nicolaus Weisel acted as financial advisor to Odyssey.

Odyssey Investment Partners, LLC, with offices in New York and Los Angeles, is a middle-market private equity firm with approximately $2 billion under management. Odyssey Investment Partners makes control investments in established middle-market companies in a variety of industries. For further information about Odyssey Investment Partners, please visit www.odysseyinvestment.com. The firm can be reached in New York at 280 Park Avenue, New York, NY 10017 or (212) 351-7900; and in California at 21650 Oxnard Street, Woodland Hills, CA 91367 or (818) 737-1111.

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