Delta Industrial Services, LLC

May 17, 2007
Contact: Lauren B. Sinai

Prospect Partners Boosts Portfolio with Acquisition of Industrial Lifting Solutions Provider

American Sling is 4th Add-On For Rental Holdings, LLC

CHICAGO, Ill.—May 17, 2007: Leading lower-middle-market private equity firm Prospect Partners, LLC, has announced the management-led acquisition of American Sling Co. of Hurst, Texas by portfolio company Rental Holdings, LLC (now Delta Industrial Services, LLC), which specializes in the manufacture, distribution and rental of industrial lifting solutions. American Sling is the fourth industrial equipment add-on for Rental Holdings in the last year and is the largest company of its type in the Dallas/Fort Worth area.

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. Its customers include users of mobile cranes, drilling rigs, bridge cranes and drag lines in the construction, drilling, mining, manufacturing and aerospace industries. American Sling also serves as a distributor for major manufacturers of products involved in the lifting and securing of material.

"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, rigging or lifting equipment for construction projects, manufacturing or repair or maintenance work," says Louis W. Kenter, a Principal at Prospect Partners. "American Sling expands our product line, provides access to new Texas markets and 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."

Adds Kevin P. Rodgers, an independent equity sponsor who co-invested in Rental Holdings with Prospect Partners and who is a Director of the company, "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."

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 2006.

American Sling's former owner, Jim Fletcher, who has also served as a President of the Associated Wire Rope Fabricators, will remain with the company to consult on its future expansion and acquisitions. General Manager Larry Oster will continue in his current role overseeing daily operations at American Sling's offices in Hurst and El Paso, Texas.

Other industrial equipment companies under the Rental Holdings umbrella include Industrial Hoist Services, LP of Brazoria, Texas, the nation's largest provider of hoist and rigging equipment for rental, sale or service, and Delta Wire Rope of Lafayette, Louisiana, a leading provider of fabricated lifting products. Two other Louisiana-based industrial equipment rental and service companies, B&H Air Tools, LLC, of Baton Rouge, and Port Rentals, Inc., of New Iberia, were acquired in 2006 and merged into Industrial Hoist Services.

Rental Holdings will continue to seek additional acquisitions of companies that sell, rent and/or service industrial hoist or rigging equipment, wire rope and other lifting apparatus, says Douglas M. Smith, a Prospect Partners Vice President.

About Rental Holdings, LLC

Rental Holdings of Chicago, Illinois, is a leading company specializing in industrial equipment sales, rentals and servicing. Its subsidiaries include: Industrial Hoist Services, LP, of Brazoria, Texas, the national market leader in the rental, service and sales of pneumatic, electrical and mechanical powered chain hoists and winches; Delta Wire Rope, Inc., of Lafayette, Louisiana, a leading provider of wire ropes and slings; and American Sling Co. of Hurst, Texas, a manufacturer and distributor of industrial lifting products. 24/7 Studio Equipment of Burbank, California, is the leading rental company to the TV and motion picture industry.

About Prospect Partners, LLC

Prospect Partners, LLC of Chicago is a leading lower-middle-market private equity firm, managing $270 million in two private equity funds. Since its inception in 1998, Prospect Partners has focused on management-led leveraged acquisitions of small niche leaders with revenues typically between $10 million and $30 million; the firm has invested in more than 60 companies across a wide variety of niche consumer, commercial, specialty distribution and select service markets throughout the United States.

Back to Press Releases

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Prospect Partners' Industrial Equipment Platform Makes Fifth Acquisition
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