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Odyssey Investment Partners eyes TNT Crane & Rigging exit

5 Aug 2013

???????????????????????????????Private equity firm Odyssey Investment Partners is reportedly looking to exit US-based crane service provider TNT Crane & Rigging, which could fetch more than $800m.

TNT Crane & Rigging has asked JPMorgan Chase to run the auction, said Reuters, citing three people familiar with the matter. A deal could value the business at eight times its EBITDA of $100m.

Odyssey acquired TNT for an undisclosed amount from London-based private equity firm MML Capital Partners in November 2011.

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.

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