New Orleans, LA June 29, 2011
B&G Crane Service, LLC (“B&G”), provider of operated and maintained mobile crane services, heavy rigging and specialty hauling services today announced that it has completed the acquisition of substantially all of the Texas-based assets of Ray Anthony International, LLC (“RAI”). B&G is a portfolio company of an affiliate of The Sterling Group, L.P. (“Sterling”), a Houston-based private equity investment firm.
Headquartered in New Orleans, Louisiana, B&G has a fleet of over 100 mobile cranes ranging from 6 to 825 tons in capacity and a truck fleet of over 50 vehicles. The company’s crane rental fleet consists primarily of mobile all terrain, hydraulic truck, lattice boom crawler and tough terrain cranes. The specialty hauling division includes modular platform trailers, gantry lift systems and specialty truck hauling capabilities. B&G’s primary market consists of petrochemical, refining and industrial customers within a 150 mile radius of the company’s New Orleans and Baton Rouge facilities.
The acquisition of the majority of RAI’s Texas fleet, consisting of 23 cranes (4 – 240 tons in capacity) and the accompanying trucks, trailers and other assets, represents B&G’s initial expansion into the Texas Gulf Coast market. B&G expects to transfer additional cranes from its Louisiana-based fleet and also anticipates buying several new cranes to service the Texas market. “The addition of RAI’s Baytown and Beaumont, Texas locations and corresponding fleets will enable B&G to better serve our customer base across an expanded geographical area,” said B&G’s CEO Xavier J. Grilletta Jr., whose father founded the company in 1946. “We are excited to partner with the RAI employees to provide the same high quality, safe and customized service to our clients in Texas that we have been providing in the Louisiana Gulf Coast market for the past 60 years.”
“The acquisition of the RAI assets accelerates B&G’s entrance into the Texas Gulf Coast market and positions the company to capitalize on the area’s myriad petrochemical, refining and heavy industrial facilities,” noted Kent Wallace, a Partner at Sterling.
About B&G Crane Service, LLC
B&G Crane Service, LLC has been locally operated in New Orleans by the Grilletta family since 1946. B&G has played an instrumental role in the support of the construction industry of the city and the surrounding region. Operating for over 60 years, B&G now has three generations involved in management and daily operations. With corporate headquarters located in New Orleans and branch offices in Metairie and Baton Rouge, its service area is concentrated in southeastern Louisiana, however B&G’s mobile fleet can service its customers throughout the southeastern United States. Staffed by a highly skilled work force, B&G operates with a continuously updated fleet of over 100 cranes ranging from 4 ton to 825 ton capacities and a supporting truck fleet in excess of 50 vehicles. B&G is dedicated to maintaining its position as an industry front-runner in providing the highest quality, most dependable, safest and most economical service in crane rental, heavy rigging and specialty hauling.
About The Sterling Group, L.P.
Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $500 million. Sterling has sponsored the buyout of 39 platform companies and numerous add-on acquisitions for a total transaction value of approximately $9.0 billion. Currently, Sterling has $1.3 billion of committed capital under management through three funds. Current portfolio companies include North American Energy Partners, CST Industries, Roofing Supply Group, Universal Fiber Systems, Velcon Filters, Express, B&G and Saxco International.
For additional information, please contact:
The Sterling Group, L.P.