September 16, 2013
Prophet Equity Honored Recipient of The International Fund Awards 2013 Lower Middle Market Deal of the Year
Southlake, Texas- Prophet Equity was honored to be the recipient of The International Fund Awards 2013 Lower Middle Market Deal of the Year Award for the uniquely structured acquisition of the assets of USA Mobile Crane LLC. The winners were announced on May 31, 2013. “We are very pleased to be increasingly recognized for our sophisticated, seller friendly approach to quickly and effectively closing complex, lower middle market platform and add-on acquisitions. The team did a fantastic job getting this done fast on behalf of hardworking family owners, partnerships and companies who deserve win-win structures.”
Prophet Equity acquired the assets of USA Mobile Crane, another recent strategic add-on to the Allegiance Crane platform, in August of 2012. The acquisition continued the targeted expansion of Allegiance’s fleet (while also facilitating an attractive recapitalization of the platform) further extending the portfolio of products and services for its blue chip customer base into the South Texas and Eagle Ford Shale regions. The acquisition also added and integrated additional maintenance, repair, staging, dispatch, lodging and fleet services infrastructure to our already existing facilities and locations in South Texas.
The International Fund Awards, which are sponsored by AI Global Media and Acquisition International Magazine, celebrate excellence within Private Equity, Venture Capital, Infrastructure and Real Estate. The awards recognize not only fund performance, but also the firms and people behind the scenes that are successfully forming, managing and advising on funds in the current market. The awards are given solely on merit and are awarded to commend those most deserving for outstanding work over the last 12 months.
“Our Fund Award winners have demonstrated their expertise and commitment to their clients in a challenging market,” said Charlotte Abbott, Chief Coordinator of the International Hedge Fund Awards. “Their continuing dedication and success is a fantastic reflection of the industry as a whole and we are pleased to provide them with this well-deserved recognition.”
About Allegiance Crane & Equipment, LLC
Allegiance Crane & Equipment, LLC was formed in August 2010 to purchase assets from Gulfstream Crane, LLC (dba General Crane USA). Staffed by a highly skilled workforce, Allegiance operates an equipment fleet comprised of over 150 cranes and hoists and a supporting fleet of trucks, trailers and other assets. The crane fleet (ranging from 20 – 600 tons in capacity) includes mobile cranes, crawler cranes and tower cranes. These assets are utilized to provide services to customers in a variety of markets including the oil and gas, petrochemical, refining, marine, power and the commercial and infrastructure construction industries. Allegiance is dedicated to building on its position as an industry leader in providing the highest quality, most reliable, safest services and dealing with its customers and vendors with the highest level of integrity.
About Prophet Equity LP
Prophet Equity LP is a private equity firm that uses proven, data-driven analytical techniques coupled with over 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.
Over the last decade alone, Prophet Equity’s Principals have invested and managed over $2B of value creation across entities with over $4 billion in revenue. Our control equity investments focus on strategically strong, lower and middle market businesses with significant value creation potential. These are typically found in partnerships, corporate carve-outs, divestitures and non-strategic business units of larger companies. Representative business situations include special situations, succession planning, recapitalizations, reorganizations, turnarounds, acquisitions, mergers and bankruptcies. For more information, please visit www.prophetequity.com or call us at +1.817.898.1500.