Rental Holdings LLC, a portfolio company of Chicago private equity firm Prospect Partners LLC, and parent company of Industrial Hoist Services, the nation’s largest provider of hoist and rigging equipment for rental, sale or service, last week announced the management-led acquisition of Hurst, Texas-based American Sling Co.
American Sling specializes in the manufacture, distribution and rental of rigging and lifting equipment primarily to the construction, drilling, mining, manufacturing and aerospace industries.
American Sling is Rental Holdings’ fourth acquisition in the past year.
Founded in 1983, American Sling provides a range of specialized lifting products including wire rope, wire, nylon and synthetic slings, rigging hardware and hoists, winches and tuggers for sale or rent. It is the exclusive provider of Tuffy Products, the rigging industry’s leading brand of nylon and synthetic slings. American Sling is also a distributor for the Crosby Group and Columbus McKinnon, major manufacturers of handling products that help move, lift or secure material.
“American Sling is a solid strategic fit for Rental Holdings, which seeks to be the one-stop resource for large industrial users that rent or purchase specialized hoist, lifting or rigging equipment for construction projects, manufacturing or repair and maintenance work,” said Louis Kenter, a principal at Prospect Partners. “American Sling expands our product line, provides access to new Texas markets and new customer segments, including mining and aerospace, and enhances our position along the Gulf Coast and in the oil, gas, utility and chemical markets we already serve.”
Rental Holdings CEO Kevin Rodgers called American Sling “a terrific company with dedicated, knowledgeable management and employees and a product line that will help us continue to expand our local and national customer base. In combination with Delta Wire Rope, American Sling positions Rental Holdings as one of the largest wire rope and rigging operators in the country.”
Rental Holdings acquired Delta Wire Rope in July 2006.
Former American Sling owner Jim Fletcher will remain with the company to consult on its future expansion and acquisitions. Rental Holdings will continue to seek acquisition opportunities of companies that sell, rent or service industrial hoist or rigging equipment, wire rope and other lifting apparatus.
General manager Larry Oster will continue in his current role overseeing daily operations.
Other Rental Holdings companies include Industrial Hoist Services, Brazoria, Texas; Delta Wire Rope, Lafayette, La.; and 24/7 Studio Equipment, Burbank, Calif.
Rental Holdings is No. 64 on the new RER 100.
