Tiger Group and GA Global Partners to Sell Assets for Dalton Crane
MAR 3, 2022 - 6:07 am
Tiger Group and GA Global Partners are conducting a court-ordered sale of the entire operations and assets of fully-staffed Dalton Crane, allowing heavy equipment rental companies to bid on the assets of the business, which serves customers in Texas and across the Southwest.
Assets offered as part of the sale include
19 late-model, heavy duty cranes and boom trucks from Link-Belt, Grove, Liebherr, Tadano, Terex and others
Heavy duty Mack and Kenworth trucks
Fontaine and Dorsey trailers
Dalton Crane’s IP/existing customer contracts
Various support equipment
“Like many heavy equipment rental companies, Dalton Crane took a major hit when the oil and gas sector ground to a halt during the initial months of the COVID-19 pandemic,” Chad Farrell, managing director of Tiger Commercial & Industrial, said. “While debt load forced the company to file for Chapter 11 bankruptcy protection this past October, Dalton Crane’s assets and operations are sound; they represent an attractive opportunity for buyers that emerged from COVID with stronger balance sheets.”
“That opportunity is all the more appealing given a confluence of marketplace trends,” Adam Alexander, CEO of GA Global Partners, said. “Due to the supply chain crunch, expanding rental companies are facing rising prices and delivery delays for new or late-model cranes, rolling stock and other operation assets. Through a turnkey sale, heavy equipment rental companies would gain ready access to such in-demand inventory — late-model equipment under contract in the field. Dalton Crane’s nearly 30- plus employees, including 16 crane operators, continue to come to work every day to service their many active accounts.”
Lastly, the company’s book of business includes customers in the utility solar and construction sectors, as well as the oil and gas sector. Historically, Dalton Crane has specialized in loading and setting gas compressors, with a division specializing in frac and coil tubing.
“With a capacity of up to 300 tons, Dalton Crane’s rental inventory has been used for tank batteries, air conditioner units, bridges, drilling rig equipment, generators, storage tanks, transformers, vessels and much more,” Farrell said. “This is a company with a strong history of customer service in Texas and the Southwest.”
Tiger Group and GA Global Partners anticipate a 60-day process for the turnkey sale.
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