Delta Rigging & Tools, Inc., one of the largest providers of lifting and rigging products and related services in the United States, today announced the acquisition of Morgan City Rentals, a leading provider of offshore rental equipment and rigging supply in the Gulf of Mexico.
Established in 1970, Morgan City Rentals is headquartered in Morgan City, Louisiana, with additional locations in Golden Meadow and Broussard, Louisiana. Morgan City Rentals provides a wide range of offshore rental equipment, wire rope, rigging hardware & 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 the leading offshore rental and rigging company in the Louisiana gulf coast market.
“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.”
“Morgan City Rentals has grown its business with the same customer focus as Delta Rigging & Tools — consistently delivering safety, service, quality, and value. We believe that both companies’ existing customer bases will benefit from the combination of market-leading products, services, and support that the Delta Rigging & Tools and Morgan City Rentals teams bring to the table,” continued Hausman.
Joe Sanford, Jr., President and owner of Morgan City Rentals added, “I am very pleased to have found a partner like Delta Rigging & Tools that provides such a compelling fit for our employees and customers. We are excited to join forces with the talented management team of Delta Rigging & Tools. Both Morgan City Rentals and Delta Rigging & Tools are well-known companies managed by executives with decades of experience in the rental equipment and rigging business. We now have the nation’s most extensive fleet of pipe slings, hoists, winches, compressors, pumps and related rigging equipment.”
Over the past several years in partnership with Austin Ventures, Delta Rigging & Tools has successfully 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 US 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 / Southwest Securities, Inc.