Porter Hedges represented MML Capital Partners in its sale of TNT Crane and Rigging Inc. (TNT) to Odyssey Investment Partners Inc. TNT is based in Houston and is one of the largest crane rental companies in Texas. It provides cranes and rigging services to the refinery, petrochemical, power, commercial and oil and gas companies in Texas, Louisiana and Oklahoma.
MML Capital Partners invested in TNT in late 2007, beginning a rapid expansion program that tripled the size of the business in four years. This growth has included the purchase of Gulf Coast crane companies including Kuhn, in 2008; Americrane, at the end of that year; and RTL, at the start of 2011. The company’s expansion included both geographic growth and an investment in higher capacity cranes. Porter Hedges represented TNT is each of these acquisitions.
MML Capital Partners, which has offices in London, Paris and Stamford, Conn., provides capital to businesses for expansion, acquisition, management-led equity deals, recapitalizations, and buy-outs. The firm has invested more than €1.5 billion ($2 billion) in 81 companies.
The Porter Hedges team on this deal was led by Corporate partner Chris Ferazzi with assistance from Tax partner Craig Bergez and Corporate associate Kevin Poli.
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