A portfolio company of an affiliate of The Sterling Group, L.P., a Houston-based private equity investment firm, B&G has a fleet of more than 100 mobile cranes ranging from 6 tons to 825 tons.
The company's crane rental fleet consists primarily of all-terrain, hydraulic truck, lattice-boom crawler and rough-terrain cranes. The specialty hauling division includes modular platform trailers, gantry lift systems and specialty truck hauling capabilities. B&G's primary market consists of petrochemical, refining and industrial customers within a 150-mile radius of the company's New Orleans and Baton Rouge, La., facilities.
"The addition of RAI's Baytown, and Beaumont, Texas, locations and corresponding fleets will enable B&G to better serve our customer base across an expanded geographical area," said CEO Xavier J. Grilletta Jr., whose father founded the company in 1946. "We are excited to partner with the RAI employees to provide the same high-quality, safe, and customized service to our clients in Texas that we have been providing in the Louisiana Gulf Coast market for the past 60 years."
The acquisition of the majority of RAI's Texas fleet, consisting of 23 cranes in 4-ton to 240-ton capacities, and the accompanying trucks, trailers, and other assets, represents B&G's initial expansion into the Texas Gulf Coast market. B&G expects to transfer additional cranes from its Louisiana-based fleet and also anticipates buying several new cranes to serve the Texas market.
"The acquisition of the RAI assets accelerates B&G's entrance into the Texas Gulf Coast market and positions the company to capitalize on the area's myriad petrochemical, refining and heavy industrial facilities," noted Kent Wallace, a partner at Sterling.