Rental Holdings, LLC, Acquires Delta Wire Rope, Inc.
Rental Holdings, LLC, Chicago, Ill., parent company of Industrial Hoist Services, LP, and a platform company of Chicago private equity firm Prospect Partners, LLC, has announced the management•led acquisition of Delta Wire Rope, Inc., Lafayette, La.
Founded in 1979, Delta Wire Rope specializes in the sale, rental, and servicing of equipment to customers primarily in the oil, petrochemical, marine, construction, timber and transport industries. Delta Wire Rope is an authorized dealer for the Crosby Group, Inc., Bethlehem Wire Rope, and American Wire Rope Corp. Delta Wire Rope's product line includes wire ropes and synthetic slings, rigging blocks, shackles, swivels, hooks and chain assemblies. Delta ships its products nationwide.
“Delta is a longtime performer with a solid management team and strong opportunities for continued growth,” said Kevin P. Rodgers, chief executive officer of Rental Holdings. “It is a synergistic fit for Rental Holdings. We have strengthened our offering to various industries while creating opportunities to cultivate new customers and industry segments.
“Our goal,” said Rodgers,” at Rental Holdings is to be the one-stop resource for large industrial users looking to rent or buy rigging, hoist and other types of industrial equipment and tools.”
Delta Wire Rope will operate as an independent subsidiary of Rental Holdings. Its former owner, Bill Lindsey, will remain involved in the growth of the company as a consultant. Mike Lindsey has been named president. Delta Wire Rope's sales manager, Chad Collins, and the remaining management team will continue in their roles. Delta's offices will remain in Lafayette.