Delta Rigging & Tools Acquires Morgan City Rentals
Delta Rigging & Tools, Inc., a provider of lifting and rigging products and related services in the United States, announced the acquisition of Morgan City Rentals, a provider of offshore rental equipment and rigging supply in the Gulf of Mexico.
Established in 1970, Morgan City Rentals is headquartered in Morgan City, La., with additional locations in Golden Meadow and Broussard, La. Morgan City Rentals provides a wide range of offshore rental equipment, wire rope, rigging hardware and supplies, sling fabrication and compliance load testing to the offshore oil and gas industry. Combined with Delta Rigging & Tools’ existing operations in Broussard and Houma, the acquisition of Morgan City Rentals establishes Delta Rigging & Tools as a leading offshore rental and rigging company in the Louisiana gulf coast market, the company said.
“One of our key strategic initiatives has been increasing our Louisiana rental and rigging business, and to go deeper into the offshore oil and gas drilling and production markets,” said Mitch Hausman, President and CEO of Delta Rigging & Tools. “We were very familiar with the outstanding reputation of Morgan City Rentals. Once we began discussions, it was clear that combining with a growing operation like Morgan City Rentals was the best strategic move for both companies, and the best way to serve our existing and new customers with expanded rigging and rental services.”
Over the past several years in partnership with Austin Ventures, Delta Rigging & Tools has executed a strategy of acquiring and integrating a number of high-performing regional market leaders to create a scalable, industry-leading platform across the United States. Delta Rigging & Tools is well positioned to pursue further growth initiatives through strategic acquisitions, geographic expansion, the expansion of existing and new customer relationships, and additional product and service offerings both in the U.S. and abroad. According to Mr. Hausman, “Delta Rigging & Tools will continue to seek additional acquisition opportunities of companies offering sales and rental of rigging, lifting and specialty products serving energy and industrial customers around the country”.
Morgan City Rentals was advised by SWS Group (SWS) / Southwest Securities, Inc.