The board of directors of TNT Crane & Rigging, one of the largest crane rental companies in North America, has appointed former Herc Rentals chief financial officer Mark Irion as its new CEO, effective immediately. Irion replaces Mike Appling, who has served as TNT’s CEO since 2007 and will be leaving the company. Appling will remain at TNT until April 30 to ensure a smooth transition and will step down from the board of directors at that time.
Irion is a veteran of nearly 25 years in the equipment rental industry. He will also continue as a director on TNT’s board, where he has served since June 2020. Irion most recently served as CFO of Herc Holdings, where he was recognized for helping to drive strategies that improved fleet efficiencies and accelerated strategic merger & acquisitions activity.
“Mark is an accomplished leader with the right vision and capabilities to lead TNT’s next chapter of growth and success,” said David Fanta, chairman of TNT’s board of directors. “He brings extensive industry knowledge and deep financial acumen to the company. Having served on our board for nearly three years, he already has a strong understanding of TNT’s business, strategy, culture and opportunities. We look forward to continuing to work closely with Mark to execute TNT’s plans to accelerate profitable growth."
Irion expressed his enthusiasm for TNT and appreciation for Appling’s role in the growth and development of TNT.
“I am excited to take on this role and to lead TNT forward as we continue to deliver superior customer service with our unparalleled expertise and capabilities,” Irion said. “What has always stood out at TNT is our culture that puts people first. That is reflected in strong, multi-year customer relationships and an industry-leading safety record in successfully executing mission-critical work. It is an honor to lead this company and I can’t wait to get started.
“Mike leaves a tremendous legacy at TNT. He helped build the company through more than a dozen acquisitions as well as strong organic growth. On behalf of the entire board, I want to thank Mike for his many contributions to TNT over the years and wish him the very best in the future.”
M&A history
Appling led the acquisition and integration of companies such as JMS Crane & Rigging Co.; WM Services Crane & Rigging Inc.; Big Ray’s Equipment Co.; Southway; Rocky Mountain Structures; TSD Crane & Rigging; Eaglewet/Stampede; Rent-a-Crane and others. Under Appling’s leadership, TNT grew from four branches to more than 40 and has become, according to Fanta, “the largest open-shop crane services platform in North America.”
Prior to joining Herc, Irion spent 19 years as chief financial officer of Neff Corp., a publicly traded equipment rental company since acquired by United Rentals. Earlier in his career, he was a finance executive for a computer component distribution company and a senior auditor for Deloitte & Touche LLP.
TNT Crane & Rigging is headquartered in Houston. Its branches span the Gulf Coast, Rockies and Southeast regions of the U.S. as well as Western Canada, with a fleet of more than 700 cranes, more than 1,500 employees and more than 4,000 customers, predominantly operating in the downstream, commercial, power and infrastructure end markets. TNT Crane is No. 16 on the RER 100.
