Pan-European private equity firm MML Capital Partners has sold TNT Crane & Rigging in a secondary transaction with New York-based mid-market investor Odyssey Investment Partners. Financial terms of the deal were not disclosed.
TNT is a mobile crane operator in the Gulf Coast. MML bought the company in 2007 and helped it grow through four add-on acquisitions, tripling the size of its fleet and expanding its geographic reach.
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 [Appling Jr, president and CEO of TNT] and his entire team success in the future.”
MML Capital Partners has invested over $2bn across 11 countries during the last 20 years, and has offices in London, Paris and Stamford, Connecticut, US.
Earlier this year the firm took a minority stake in Exploration Logistics Group (ELG), a provider of remote site medical, health, safety and mine clearance services. The company is currently supporting the Ministry of Defence’s medical operations in Afghanistan.
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