Delta Rigging & Tools Acquires Holloway Wire Rope in Tulsa, OK
Pearland, TX (August 12, 2013) — Delta Rigging & Tools, Inc., one of the largest providers of lifting and rigging products and related services in the United States, today announced it has completed the acquisition of Holloway Wire Rope, supplier of wire rope, below-the-hook lifting devices and rigging supplies headquartered in Tulsa, OK, with a second location in Wichita, KS. The acquisition of Holloway Wire Rope expands Delta Rigging & Tools footprint into the Oklahoma oil & gas fields, along with broadening its reach into the Midwest markets.
Holloway Wire Rope, celebrating its 72nd year in the industry, is proud to be one of the earliest established wire rope and rigging companies in the United States. Through the efforts of its experienced and long-term management team, they have become an internationally recognized supplier specializing in Wire Rope Slings, Rigging, Fall Protection, Nylon Slings, Wire Rope, Chain, Chain Slings, Rope, Hoists, Shackles, Turnbuckles, Eye Bolts, Sheaves, Snatch Blocks, Tie Downs and Cargo Control, Load Binders, Crane Blocks, Winches, Swivels, Pull Testing Safety Belts, Chokers, Round Slings, Rigging Hardware, and Suspended Personnel Platforms.
“We had been looking for a way to expand our footprint deeper into the Oklahoma oil fields and Midwest markets for some time,” said Mitch Hausman, President & CEO of Delta Rigging & Tools. “After a careful review of the Holloway Wire Rope operations, it became clear that taking a well- established business with great customer and vendor relationships was a strong strategic move for us, and the best way to serve our existing and new customers working in the Midwest.”
Curt Tuggle Owner of Holloway Wire Rope will be joining the Delta Rigging & Tools management team and continue as General Manager of the Tulsa and Wichita operations. “We are very pleased that a company with Delta Rigging & Tools national stature and reputation for quality and value is acquiring Holloway Wire Rope” said Curt. “Holloway Wire Rope is recognized for the high quality products we offer, customer satisfaction and safety. We believe that joining Delta Rigging & Tools will help us continue to grow by bringing us access to tremendous purchasing power and distribution of some of the best brands in our industry.”
Over the past several years, working closely with Austin Ventures, Delta Rigging & Tools has successfully executed a strategy of acquiring and integrating a number of high-performing regional market leaders to create a scalable, industry-leading platform across the United States. Delta Rigging & Tools is well positioned to pursue further growth initiatives through strategic acquisitions, geographic expansion, the expansion of existing and new customer relationships, and additional product and service offerings both in the US and abroad. According to Mr. Hausman, “Delta Rigging & Tools will continue to seek additional acquisition opportunities of companies offering sales and rental of rigging, lifting and specialty products serving energy and industrial customers around the country”.
About Delta Rigging & Tools
Delta Rigging & Tools is one of the largest US providers for both sales and rental of rigging and lifting products, tools, and services. Delta Rigging & Tools offers a complete portfolio of lifting solutions, including hoists, winches, wire rope, wire and synthetic slings, accessory parts, and hardware as well as testing, inspection, and field service, and rental of lifting equipment and tools. Delta Rigging & Tools serves both domestic and international customers through 15 sales and service facilities and distribution centers located around the country. The company provides complete lifting and rigging solutions and support for a diverse range of markets, including Oil & Gas production and distribution, Energy and Power-Generation, Mining, Transportation, Heavy Manufacturing and Construction.
Founded in December, 2004, Delta Rigging & Tools continues to grow rapidly through a combination of acquisitions and Greenfield start-ups. Delta Rigging & Tools focuses on providing its customers with the highest possible levels of Safety, Service, Quality and Value. Additional information on Delta Rigging & Tools can be found at www.deltarigging.com.
About Austin Ventures
Austin Ventures (“AV”) has worked with talented entrepreneurs to build valuable companies for over 30 years. With $3.9 billion of capital raised, AV is the most active venture capital firm in Texas and one of the most established in the nation. AV invests in early stage and middle market companies, and its strategy is to partner with talented executives and entrepreneurs to build industry-leading companies predominantly in Texas. Additional information on AV can be found at www.austinventures.com.
About Holloway Wire Rope
Holloway Wire Rope based in Tulsa, OK is an internationally recognized supplier of wire rope, below-the-hook lifting devices, and rigging supplies.
Holloway Wire Rope is a privately held corporation that has been in business since 1941. The company is owned by Curt Tuggle who has been active in the day-to-day operations of the company since he purchased it in 1982. He began his career in the wire rope business in 1965 working for Bethlehem Steel. Mr. Tuggle’s philosophy of growing Holloway has been to create and foster lasting relationships with the customers Holloway Wire Rope serves. Holloway Wire Rope is known for providing the very best in customer service, coupled with the highest quality products at competitive prices. Additional information on Holloway Wire Rope can be found at www.hollowaywirerope.com