TNT acquires crane division assets from Affirm
By Hannah Sundermeyer07 March 2019
TNT Crane & Rigging’s subsidiary, Allison Crane & Rigging, has acquired the crane division assets from Affirm Oilfield Services. Affirm is one of four subsidiaries of Select Energy Services (SES), providing well site construction and support. TNT/Allison purchased Affirm’s crane fleet.
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, TNT said.
Allison’s fleet now totals more than 40 cranes. Allison will also be adding more than 30 employees, including operations management and 26 crane operators, the company said.
“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,” said Mike Appling, TNT CEO. “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 Crane & Rigging said this acquisition will allow the company to better serve customers in the Permian Basin market in Texas.
”They are planning now for the ramp up in activity as additional pipeline takeaway capacity comes on line later this year,” Allison said. ”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.