Prophet Equity’s Allegiance Crane Completes Asset Purchase
Prophet Equity announced that its portfolio company Allegiance Crane & Equipment, a provider of crane and rigging services, has completed the purchase of the assets of USA Mobile Crane. The combined business will operate as Allegiance Crane & Equipment.
The acquisition of USA Mobile Crane’s business, with a fleet consisting of mobile cranes (60-225 tons in capacity) and the accompanying trucks, trailers and other assets, represents both a geographic expansion to two new branch locations in San Antonio and Carrizo Springs, Texas and a significant increase in exposure to the oil and gas industry.
Pelham Smith, managing director of Allegiance said,