TNT Crane & Rigging, Inc. announced that it has signed a definitive agreement to acquire Stampede Crane & Rigging Inc., Stampede Crane & Rigging Ltd., Eagle West Truck & Crane Inc., Eagle West Precast Ltd., and certain assets of J&B Trucking, collectively “Stampede/Eagle West.” The transaction is expected to close in September 2014.
Stampede/Eagle West is a full service provider of crane and rigging services to customers in British Columbia and Alberta, Canada. This acquisition provides an entrance into the rapidly growing energy end-markets in Western Canada. Stampede/Eagle West will serve as a platform for TNT’s anticipated future growth in Canada both organically and through further acquisitions. Terms of the transaction were not disclosed.
Stampede/Eagle West and TNT’s shared focus on energy and energy-related end-markets will enable TNT to capitalize on new opportunities and extend its presence into a new geography. Stampede/Eagle West operates an integrated network of nine branches and 78 cranes strategically located across Alberta and British Columbia that delivers a tactical footprint in the region. Customers will benefit from a more diversified fleet, continued investment in new fleet and the combined experience and expertise to execute larger and more complex projects. Upon completion of the Stampede/Eagle West transaction, TNT’s fleet will grow to over 580 cranes ranging in size from 8 to 1300 tons operating throughout North America.
Michael Appling Jr., CEO of TNT stated, "The acquisition of Stampede/Eagle West provides increased geographic diversification and gives TNT a superb platform for entry into the rapidly growing Canadian energy end-markets. Their longstanding history in Alberta and British Columbia, coupled with TNT’s capabilities, will provide our combined customer base tremendous benefits. We are excited to welcome our new partners/employees to the TNT family and look forward to our future growth together.”