Utility One Source Announces Partnership with TNT Equipment

On Jul 24, 2015

Kansas-based Utility One Source partners with TNT Equipment, a provider of specialty equipment and services to the hi-rail and utility industries. Based in Cinnaminson, New Jersey, TNT will remain a family-owned and operated business led by the Reilly family, who will continue to manage and to grow the business as part of Utility One Source. Utility One Source, founded by private equity funds managed by Blackstone earlier this year, is a single-source supplier for the utility and heavy equipment industries with a focus on sales, rental, equipment customization, remanufacturing and installation, and aftermarket services.

“I am delighted to welcome TNT aboard,” said Utility One Source Chairman Chris Ragot. “TNT is a great fit with our growth strategy and we are excited to expand our geographic footprint to the Northeast, as well as to increase our product offerings to include hi-rail. This addition to the Utility One Source family demonstrates our continued commitment to becoming the leading provider of solutions to the heavy equipment and utility industries.”

TNT’s president, Tom Reilly III, said, “We are thrilled to join Utility One Source. We are excited about the opportunity to be a part of Utility One Source’s growth and contribute our expertise in hi-rail and utility equipment on which TNT has built its reputation.”

The addition of TNT Equipment marks the fifth acquisition under the Utility One Source brand since its formation in February 2015, and is validation of its pledge to build a nation-wide footprint and a comprehensive breadth of product offerings. Funds managed by Blackstone will continue to provide significant growth capital for additional investment in equipment, innovation and an expanded geographic footprint, which will ensure Utility One Source has the customer-focused solutions that the industry requires.