Austin Ventures Acquires Morgan City Rentals

Austin Ventures Acquires Morgan City Rentals

Delta Rigging & Tools, a provider of lifting and rigging products and a portfolio company of Austin Ventures, has acquired Morgan City Rentals, a provider of offshore rental equipment and rigging supplies.

Morgan City Rentals provides a range of offshore rental equipment, wire rope, rigging hardware and supplies, sling fabrication and compliance load testing to the offshore oil and gas industry. The company was founded in 1970 and is headquartered in Morgan City, LA and has additional facilities in Golden Meadow and Broussard, LA (

Over the past several years in partnership with Austin Ventures, Delta Rigging & Tools has executed a strategy of acquiring and integrating rigging, lifting and specialty products companies. “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,” said Mitch Hausman, President and CEO of Delta Rigging & Tools.

Austin Ventures makes investments in middle market companies that have from $5 million to $25 million of EBITDA. Sectors of interest include business services, industrial services, construction and related services, oilfield services, food services, light manufacturing, and distribution. Target companies must be headquartered in, substantially operating in, or expanding to Texas. The firm is based in Austin (

“One of our key strategic initiatives has been increasing our Louisiana rental and rigging business, and to go deeper into the offshore oil and gas drilling and production markets,” said Mr. Hausman. “We were very familiar with the outstanding reputation of Morgan City Rentals. Once we began discussions, it was clear that combining with a growing operation like Morgan City Rentals was the best strategic move for both companies, and the best way to serve our existing and new customers with expanded rigging and rental services.”

Dallas-based investment bank Southwest Securities ( advised Morgan City Rentals on this transaction.

© 2013 PEPD • Private Equity’s Leading News Magazine • 6-14-13

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