CHICAGO — Rental Holdings, platform company of Chicago private equity firm Prospect Partners, recently announced the management-led acquisition of Delta Wire Rope, Lafayette, La.
Delta Wire Rope is Louisiana's leading provider of wire ropes and slings. It specializes in the sale, rental and servicing of equipment to customers in the oil, petrochemical, construction, marine, timber and transport industries. Its line includes wire rope and synthetic slings, rigging blocks, shackles, swivels, hooks and chain assemblies. Delta Wire Rope is an authorized distributor for Crosby Group, Bethlehem Wire Rope and American Wire Rope Corp.
“Delta is a longtime performer with a solid management team and strong opportunities for continued growth,” said Rental Holdings CEO Kevin Rodgers. “It is a synergistic fit for Rental Holdings. We have strengthened our offering to industries, such as oil and petrochemical, that we already serve, while creating opportunities to cultivate new customers and industry segments with a broader fleet of equipment and accessories.”
Rodgers launched Rental Holdings with the acquisition of Brazoria, Texas-based Industrial Hoist Services in January 2005, with the backing of Prospect Partners. IHS has since acquired B&H Air Tools LLC, Baton Rouge, La., and Port Rentals Inc. of New Iberia, La., and now offers the nation's largest rental fleet of hoists, winches and related rigging equipment.
“Our goal at Rental Holdings is to be the one-stop resource for large industrial users looking to rent or buy rigging, hoists and other types of industrial equipment and tools, whether for construction or turn-around projects, plant maintenance or routine inspection and repairs,” Rodgers said.
Rental Holdings also launched 24/7 Studio Rentals in Burbank, Calif., earlier this year, which specializes in the rental of aerial equipment for television and film production.
Delta Wire Rope will operate as an independent subsidiary of Rental Holdings. Its former owner, Bill Lindsey, will remain involved as a consultant. Lindsey's son Mike, who has been with Delta since 1997, has been named president. Sales manager Chad Collins and other staff will continue in their positions.