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08/30/2007
Stonehenge Growth Capital Invests $4,500,000 in Louisiana Crane Company, LLC
NEW YORK, N.Y., BATON ROUGE, L.A. August 30, 2007 — Stonehenge Growth Capital (“SGC”), the principal investment group of Stonehenge Capital Company, LLC (“Stonehenge”), has made a $4,500,000 junior secured debt investment in Louisiana Crane Company, LLC (“the Company”).
Louisiana Crane Company, LLC is a leading provider of crane services, certified crane operators and other field services to the petrochemical, oil and gas, utility and general commercial sectors. From its network of six locations throughout Texas and Louisiana, The Company operates a fleet of over 100 cranes ranging in capacity from 40 – 500 ton and boom lengths of up to 500 feet. The Company fleet is one of the youngest and most versatile in the industry, and it is complemented by a workforce of over 350 employees dedicated to providing the safest and most reliable lifting solutions to its customers. In addition to crane services, the Company also provides its customers with a broad range of field labor services, consisting of specialty jacking, rigging, plant construction, field maintenance and millwright services.
“Our business is geared toward providing the most modern fleet of mobile, high tonnage manned cranes to our industrial and commercial customer base. Our people, though, are what we are especially proud of; they are among the best in the industry, providing unmatched attention to detail with respect to equipment maintenance, job site safety and customer service,” said Logan Fournerat, President and CEO of Louisiana Crane. “The investment by Stonehenge allows us to further expand our crane fleet and also helps fund the growth of our plant and millwright services divisions.”
“We were impressed with the Company’s modern equipment fleet and its strong market position in the key energy and industrial markets of the Gulf South,” said Nemesio Viso, Managing Director at Stonehenge Growth Capital. “We believe the Louisiana Crane’s success is due to the unwavering commitment of Mr. Fournerat and his management team to providing the highest quality manned crane fleet in the industry.”
Louisiana Crane Company, LLC was formed in 2002 by the Company’s principal owner, Logan Fournerat, who has over 25 years of experience in the crane industry. The Company has grown to a fleet of over 100 cranes across six locations throughout Louisiana (Eunice and Sulphur) and Texas (Houston, San Antonio, Corpus Christi and Dallas).
Stonehenge Growth Capital represents the private equity, lending and venture capital group of Stonehenge Capital Company, LLC. From its five offices across the country, SGC directly originates and manages private equity, debt and venture capital investments across the country.
Stonehenge Capital Company, LLC (www.stonehengecapital.com) is a nationwide specialty finance firm with expertise in mezzanine and private equity, tax credit finance and structured finance transactions. In addition to its SGC principal investment and asset management activities, SCC has closed more than $1 billion of structured finance and tax credit transactions from its offices in Alabama, Colorado, Florida, Louisiana, Missouri, New York, Ohio, Texas and Wisconsin.
Louisiana Crane Company, LLC is a leading provider of crane services, certified crane operators and other field services to the petrochemical, oil and gas, utility and general commercial sectors. From its network of six locations throughout Texas and Louisiana, The Company operates a fleet of over 100 cranes ranging in capacity from 40 – 500 ton and boom lengths of up to 500 feet. The Company fleet is one of the youngest and most versatile in the industry, and it is complemented by a workforce of over 350 employees dedicated to providing the safest and most reliable lifting solutions to its customers. In addition to crane services, the Company also provides its customers with a broad range of field labor services, consisting of specialty jacking, rigging, plant construction, field maintenance and millwright services.
“Our business is geared toward providing the most modern fleet of mobile, high tonnage manned cranes to our industrial and commercial customer base. Our people, though, are what we are especially proud of; they are among the best in the industry, providing unmatched attention to detail with respect to equipment maintenance, job site safety and customer service,” said Logan Fournerat, President and CEO of Louisiana Crane. “The investment by Stonehenge allows us to further expand our crane fleet and also helps fund the growth of our plant and millwright services divisions.”
“We were impressed with the Company’s modern equipment fleet and its strong market position in the key energy and industrial markets of the Gulf South,” said Nemesio Viso, Managing Director at Stonehenge Growth Capital. “We believe the Louisiana Crane’s success is due to the unwavering commitment of Mr. Fournerat and his management team to providing the highest quality manned crane fleet in the industry.”
Louisiana Crane Company, LLC was formed in 2002 by the Company’s principal owner, Logan Fournerat, who has over 25 years of experience in the crane industry. The Company has grown to a fleet of over 100 cranes across six locations throughout Louisiana (Eunice and Sulphur) and Texas (Houston, San Antonio, Corpus Christi and Dallas).
Stonehenge Growth Capital represents the private equity, lending and venture capital group of Stonehenge Capital Company, LLC. From its five offices across the country, SGC directly originates and manages private equity, debt and venture capital investments across the country.
Stonehenge Capital Company, LLC (www.stonehengecapital.com) is a nationwide specialty finance firm with expertise in mezzanine and private equity, tax credit finance and structured finance transactions. In addition to its SGC principal investment and asset management activities, SCC has closed more than $1 billion of structured finance and tax credit transactions from its offices in Alabama, Colorado, Florida, Louisiana, Missouri, New York, Ohio, Texas and Wisconsin.
| Associated Company |
| Louisiana Crane Company, LLC |
| Associated Office |
| Baton Rouge |
