In the USA TNT Crane & Rigging, Inc., has purchased the crane operations of Turner Bros. LLC, American Cranes & Transport has learned exclusively. TNT has acquired the stock of all of Turner Bros. and the trucking and pipe service businesses have been transferred to the former Turner owners via a spin out. Turner Bros. owns has 60 cranes and has branches in Houston, Longview, Beaumont, Abilene and Corpus Christi. The terms of the transaction were not disclosed.
"The acquisition of Turner shows our commitment to be a leader in the industry," said Michael Appling, Jr., president and CEO of TNT. "It places TNT in a stronger and more competitive position.
Appling said the acquisition gives TNT both industry and geographic diversity through the three new branches in Beaumont, Longview and Abilene. He also noted that Turner is a leader in the wind maintenance and services business, which bodes well for TNT.
"We welcome the Turner employees to the TNT family and we look forward to working with them as we continue to grow our company," he said.
With the acquisition, TNT will have in excess of 230 cranes servicing the Gulf Coast region from 11 branches in Texas, Louisiana and Oklahoma. This includes full service capabilities ranging from a complete portfolio of rigging capabilities, crawlers and boom trucks and including a 1,350-ton Liebherr LTM 11200.
David Cowley, who was executive vice president of Turner Bros., will become executive vice president of TNT and a member of the executive management team.
"All Turner employees are excited about this transaction," Cowley said. "This will expand the geographic footprint for TNT. With the combined equipment, we can service our vast range of customers over a broader area. This transaction is a benefit for all markets with the combination of knowledge from safety, to skilled workers, to management."
Cowley said the Turner Bros. employees appreciated the welcome to the TNT family.
The acquisition is TNT's largest to date and will be a strong positive for the customers, the combined employee groups and the industry overall, the company said.