NCSG Crane & Heavy Haul Corp to buy PE-owned B&G

NCSG Crane & Heavy Haul Corporation and its investor group led by TriWest Capital Partners, Alberta Teachers’ Retirement Fund and NCA Partners have agreed to acquire B&G Crane Holdings. No financial terms were disclosed. Stifel is serving as financial advisor to NCSG on the transaction while RBC Capital Markets is doing likewise to B&G. B&G, which is owned by The Sterling Group LP, is a provider of crane services, specialized rigging and heavy haul transportation in Louisiana and Texas.

PRESS RELEASE

NEW ORLEANS, LOUISIANA–(Marketwired – April 27, 2015) – NCSG Crane & Heavy Haul Corporation (“NCSG”) and its investor group led by TriWest Capital Partners, Alberta Teachers’ Retirement Fund (“ATRF”) and NCA Partners (“NCA”) announced today that a wholly owned indirect subsidiary of NCSG, NCSG Crane & Heavy Haul Holdings Inc., has signed a Stock Purchase Agreement to buy 100% of the outstanding shares of B&G Crane Holdings, Inc. (“B&G”). The majority owner of the business prior to the sale is The Sterling Group, L.P.

B&G was founded in Louisiana in 1946 by the Grilletta family who still own a significant minority interest in the business. B&G is one of the largest suppliers of operated and maintained crane services, specialized rigging, and heavy haul transportation in the states of Louisiana and Texas. B&G has over 180 Master Service Agreements (“MSAs”) in place with customer locations in the refining, petrochemical, midstream and other heavy industrial end markets.

The B&G management team including Gawain Grilletta, Rich Haggard, Trip Grilletta and Xavier Grilletta, Jr. will continue to run the business on a day to day basis and will all become shareholders of NCSG.

“B&G is a great business with a proud history of providing outstanding service to its many customers in Texas and Louisiana and the current B&G management team plans to continue to run the business and carry on with that tradition,” said Ted Redmond, President of NCSG. “We believe that the combination of B&G and NCSG is a significantly more diversified business that will allow us to get better overall asset utilization as we can share our project and maintenance cranes across a more diverse set of end markets.”

“I am proud of the business we have built, and I believe that NCSG has similar values for building and running a customer focused business” said Xavier Grilletta, Jr. Vice-Chairman of B&G. “We intend to continue our long history of safely providing outstanding customer service.”

“With access to NCSG’s team of 800 employees and fleet of over 295 cranes, 259 lines of hydraulic platform trailers/SPMTs, 400+ conventional trailers and specialized rigging equipment, we will be able to take on even larger maintenance jobs and projects and meet even more of our customers’ needs,” said Gawain Grilletta, VP Operations for B&G. “A specific example of the equipment we will now have available to us is the world’s largest mobile crane, the Liebherr LTM-11200, that has a capacity of 1350 U.S. tons and is well suited to lifting large vessels in tight locations.”

Stifel is acting as exclusive financial advisor to NCSG and Paul, Weiss, Rifkind, Wharton & Garrison LLP as well as Bennett Jones LLP are acting as legal advisors to NCSG. RBC Capital Markets is acting as exclusive financial advisor to B&G.

About NCSG
NCSG was founded in 1987 and is owned by an investor group led by TriWest Capital and including ATRF, NCA and management. Over the last 9 years NCSG has completed 12 acquisitions and grown to become one of the largest operated and maintained crane and heavy haul companies in North America.

NCSG, headquartered in Edmonton, Alberta provides rigging, lifting and heavy haul services throughout the North/South Energy Corridor of North America. In the U.S., NCSG now has branches or yards in New Orleans and Baton Rouge, Louisiana; Baytown, Beaumont, El Paso and Odessa, Texas; Soda Springs, Idaho; Great Falls, Billings and Sidney in Montana; Casper, Rock Springs and Gillette in Wyoming; and Gallup, New Mexico.

NCSG has an experienced team of over 1000 employees, a diverse fleet of 400 cranes, carry decks and picker trucks, ranging in size from 8 to 1350 tons as well as a highly specialized heavy haul tractor and trailer fleet of over 450 units supplemented by 296 lines of platform trailers / SPMTs. NCSG services the refining, petrochemical, mid-stream oil & gas, oil sands, upstream oil & gas, LNG, mining, infrastructure, commercial and wind/utility industries. For more information about NCSG or this transaction contact Ted Redmond, NCSG CEO, at 780-993-7607 or visit www.ncsg.com.

About TriWest Capital Partners
Founded in 1998 TriWest is one of Canada’s leading private equity firms having raised over $1.25 billion in committed capital through five funds and have invested in 32 companies to date. We are entrepreneurial, independent and based in Western Canada. For more information about TriWest contact Cody Church at (403) 817-9487 or visit our website at www.triwest.ca.