Rental Holdings, LLC, a portfolio company of Chicago private equity firm Prospect Partners, LLC, and parent of Industrial Hoist Services, a provider of hoist and rigging equipment for rental, sale or service, has announced the management-led acquisition of American Sling Co. of Hurst, Texas. American Sling specializes in the manufacture, distribution and rental of rigging and lifting solutions primarily to the construction, drilling, mining, manufacturing and aerospace industries. American Sling is Rental Holdings' fourth acquisition in the last year.
“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.”
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. American Sling is the exclusive provider of Tuffy Products, the rigging industry's premier brand of nylon and synthetic slings. It also is 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 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,” said Kevin Rodgers, CEO of Rental Holdings. “In combination with Delta Wire Rope, American Sling positions Rental Holdings as one of the largest wire rope and rigging operators in the country.” Delta Wire Rope was acquired by Rental Holdings in July 2006.
American Sling's former owner, Jim Fletcher, who has also served as president of the Associated Wire Rope Fabricators, will remain with the company to consult on its future expansion and acquisitions. Larry Oster, general manager, will continue to oversee daily operations. American Sling's employees will also remain with American Sling's offices in Hurst and El Paso, Texas.
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