Utility One Source (“UOS”) today announced a partnership with TNT
Equipment, a leading provider of specialty equipment and services to the
hi-rail and utility industries. Based in Cinnaminson, New Jersey, TNT
will remain a family-owned and operated business led by the Reilly
family, who will continue to manage and to grow the business as part of
Utility One Source. Utility One Source, founded by private equity funds
managed by Blackstone earlier this year, is a single-source supplier for
the utility and heavy equipment industries with a focus on sales,
rental, equipment customization, remanufacturing and installation, and
aftermarket services.
“I am delighted to welcome TNT aboard,” said Utility One Source Chairman
Chris Ragot. “TNT is a great fit with our growth strategy and we are
excited to expand our geographic footprint to the Northeast, as well as
to increase our product offerings to include hi-rail. This addition to
the Utility One Source family demonstrates our continued commitment to
becoming the leading provider of solutions to the heavy equipment and
utility industries.”
TNT’s president, Tom Reilly III, said, “We are thrilled to join Utility
One Source. We are excited about the opportunity to be a part of Utility
One Source’s growth and contribute our expertise in hi-rail and utility
equipment on which TNT has built its reputation.”
The addition of TNT Equipment marks the fifth acquisition under the
Utility One Source brand since its formation in February 2015, and is
validation of its pledge to build a nation-wide footprint and a
comprehensive breadth of product offerings. Funds managed by Blackstone
will continue to provide significant growth capital for additional
investment in equipment, innovation and an expanded geographic
footprint, which will ensure Utility One Source has the customer-focused
solutions that the industry requires.
About TNT Equipment
TNT Equipment specializes in the design, remanufacturing, and
customization of hi-rail and utility solutions to improve the
versatility of their machinery and advance equipment standards in the
industry. They offer a diverse selection of Bucket Trucks, Digger
Derricks, Cranes, Grapples, Lifts and Trailers, and more.
About Utility One Source
Utility One Source is comprised of five family-owned and operated
businesses: Custom Truck & Equipment, Utility Fleet Sales, Forestry
Equipment of Virginia (FEVA), UCO Equipment, and now TNT Equipment. The
partnership, with a combined 17 locations nationwide will collectively
offer sales, rentals, parts and aftermarket services, remanufacturing,
customized equipment and transportation. Utility One Source will build
upon the market positions of each company, while serving as a single
source supplier for the utility and heavy equipment industries.
About Blackstone
Blackstone Energy Partners is Blackstone’s energy-focused private equity
business, with a successful record built on Blackstone’s industry
expertise and partnerships with exceptional management teams. Blackstone
has invested over $8 billion of equity globally across a broad range of
sectors within the energy industry.
Blackstone is one of the world’s leading investment firms. We seek to
create positive economic impact and long-term value for our investors,
the companies we invest in, and the communities in which we work. We do
this by using extraordinary people and flexible capital to help
companies solve problems. Our asset management businesses, with over
$330 billion in assets under management, include investment vehicles
focused on private equity, real estate, public debt and equity,
non-investment grade credit, real assets, and secondary funds, all on a
global basis. Blackstone also provides various financial advisory
services, including financial and strategic advisory, restructuring and
reorganization advisory, and fund placement services. Further
information is available at http://www.blackstone.com/.
Follow us on Twitter @Blackstone.
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