MML Capital Partners ("MML") announces today that it has completed the sale of TNT Crane & Rigging ("TNT" or the "Company") to Odyssey Investment Partners.
Since MML's acquisition of TNT in 2007, the Company has established itself as the leading mobile crane operator in the Gulf Coast. Over that time, MML backed TNT through four add-on acquisitions, tripling the size of TNT's fleet and expanding its geographic reach.
Commenting on the sale, Shawn St. Jean, a Managing Partner at MML, said: "This investment demonstrates our commitment to partnering with exceptional management teams to build enterprise value. We are very proud of our association with TNT and we wish Mike and his entire team success in the future."
Michael Appling Jr., President and CEO of TNT added, "All of us at TNT have really enjoyed our relationship with MML. Their team has been a big part of our successes and we truly appreciate their backing and support."
TNT Crane and Rigging is a full service crane and rigging operator based in Houston, Texas. TNT owns an extensive modern fleet of hydraulic truck cranes with lifting capacities ranging from boom trucks to 800 tonnes to gantry jacks, rigging, trailers and other lifting related equipment.