Dallas, TX (PRWEB) September 13, 2012
A team of Haynes and Boone, LLP attorneys advised Prophet Equity’s portfolio company, Allegiance Crane & Equipment, LLC, in completing the asset purchase of USA Mobile Crane, LLC, expanding the client’s crane fleet and service lines in the Eagle Ford Shale play.
With the purchase of USA Mobile, the combined business will provide an expanded high-quality customer base with an enlarged fleet handling crane and rigging services operating as Allegiance Crane & Equipment, LLC.
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, TX and a significant increase in exposure to the oil and gas industry.
In addition, the San Antonio location provides access to the attractive markets of San Antonio and Austin for additional commercial, infrastructure and power work. About 50 former USA Mobile Crane employees have joined Allegiance.
About Prophet Equity LP
Prophet Equity LP is a private equity firm that uses proven, data-driven analytical techniques coupled with more than 100 years of investment and management experience to invest in, unlock and realize future value today. Partnering with owners and management teams, Prophet Equity's team utilizes a toolkit that is Fortune 500 tested and private equity proven to diagnose and drive dramatic value creation. Portfolio company management teams are highly motivated with clear, uncapped incentives based on realized business performance.
About Haynes and Boone
Haynes and Boone, LLP is an international corporate law firm with offices in Texas, New York, California, Washington, D.C., Mexico City and Moscow, providing a full spectrum of legal services. With more than 525 attorneys, Haynes and Boone is ranked among the largest law firms in the nation by The National Law Journal and has been named a "Top Corporate Law Firm in America" (Corporate Board Member Magazine, 2001-2012).