Private equity firm First Reserve is buying TNT Crane & Rigging Inc. from Odyssey Investment Partners.
TNT, headquartered in Houston, provides lifting services and equipment to the energy and infrastructure markets. Terms of the deal were not disclosed. New York private equity firm Odyssey invested in TNT in November 2011.
First Reserve is an energy-focused private equity firm headquartered in Greenwich, Conn. The firm bought Utility Services Associates Inc. in September. In June, First Reserve invested $500 million to form Century Midstream LLC. Mergers & Acquisitions named the firm 2011 Private Equity Firm of the Year.
The deal follows several deals for companies that serve the oil and gas industry, including Advent International’s purchase of P2 Equity Partners and Intertek Group plc’s acquisition of Global X-Ray & Testing Corp.