Odyssey Investment said it acquired TNT Crane and Rigging from MML Capital. TNT is a mobile crane rental company serving the Texas, Louisiana and Oklahoma region. Financial terms of the transaction were not disclosed.

Headquartered in Houston, Texas, with eight additional branches in the region, TNT provides crane rental and rigging services primarily to the refinery, petrochemical, power, commercial and oil & gas end markets. The company owns one of the largest and most diverse mobile crane fleets in the region, with cranes ranging in size from 15-tons to 800-tons. In addition, the company offers full-service rigging solutions using a portfolio of specialized rigging equipment.

Bill Hopkins, a managing principal of Odyssey, said: “We have a long and successful history supporting and building businesses in the industrial equipment rental and services industries; we believe that TNT is a tremendous opportunity. Odyssey is extremely impressed with the management team and looks forward to working closely with them to continue building this business.”

The entire TNT management team, including Mike Appling (president and CEO), Deana Haygood (CFO), Randy Dobbs and Pat Tesson, are investors in the transaction and will continue to lead the company under Odyssey’s ownership.

Appling said: “We are extremely excited about our new relationship with Odyssey. Our partnership will create additional opportunities for employees and advance our capabilities to service our customers. Odyssey has a deep knowledge and understanding of the rental services industry and our particular end markets; this will enhance our growth opportunities and capabilities. We believe Odyssey will prove to be an invaluable resource and strategic partner to TNT as we continue to grow the business.”

Stifel Nicolaus Weisel acted as financial advisor to Odyssey.