Crossplane Capital Announces Hunter Leasing Acquisition

DALLAS, April 8, 2022 /PRNewswire/ -- Crossplane Capital ("Crossplane"), a Dallas-based private equity firm, announced today that it has completed the acquisition of Hunter Leasing ("Hunter" or the "Company"), the blast resistant building rental division of Hunter Buildings. Crossplane has partnered with the founders of Hunter Buildings, Sam LaVergne and Mark Massey, on the investment to carve out and operate Hunter Leasing as a standalone business.

Founded in 1999 and headquartered in Houston, Texas, Hunter Leasing is a leading provider of safety critical blast resistant building ("BRB") rental solutions to petrochemical companies in the Gulf Coast region of the United States. BRB units are used to support routine petrochemical maintenance work and facility expansion projects when temporary workspace is needed within the facility's blast zone to protect workers from threats that include gas and vapor cloud explosions. As a result, BRBs can be located next to a project site, allowing for more efficient project execution.

"Crossplane is thrilled about its partnership with Hunter's founders and the management team and employees leading Hunter Leasing," said Mike Sullivan, Partner of Crossplane Capital. "The buildings and service that Hunter provides are critical to the operations of our customers. We are excited to support the expansion of Hunter's fleet to meet the growing needs of a customer base focused on providing worker safety while maintaining and expanding petrochemical production in the United States." 

Sam LaVergne, founder of Hunter Buildings & Manufacturing stated, "We are extremely pleased with the partnership with Crossplane as we seek to grow our rental operation.  Since its founding, the Hunter name has been synonymous with constructing and providing high quality blast resistant buildings to the U.S. refinery and chemical industries. Teaming with Crossplane will allow Hunter to pursue its mission of safeguarding lives in industrial areas on a new scale."

"With a best-in-class fleet of blast resistant buildings serving the Gulf Coast, Hunter is well positioned to take advantage of increased customer focus on employee safety that is catalyzing growth of the BRB market," said Brian Hegi, Partner of Crossplane Capital. "We are eager to work with the Hunter team to take advantage of the Company's strong reputation, deep customer relationships and growing BRB demand to build a truly unique platform focused on safety in our country's petrochemical facilities."

About Hunter Leasing
Founded in 1999 and headquartered in Houston, Texas, Hunter Leasing provides safety critical blast resistant building ("BRB") rental solutions including delivery, installation and building maintenance to petrochemical companies in the Gulf Coast region of the United States. BRBs are used to support routine petrochemical maintenance work and facility expansion projects when temporary workspace is needed for planning, training, meals, controls, changing and restrooms. Hunter's buildings are API RP 752-compliant and ASCE certified and are designed and engineered to meet industry requirements to protect workers from threats that include gas and vapor cloud explosions. As a result, BRBs can be located inside of a facility's blast zone, next to the project site, ultimately creating a more efficient workforce versus a traditional modular office. For more information, please visit www.hunterbuildings.com/leasing.

About Crossplane Capital
Launched in 2018, Crossplane Capital is a Dallas-based private equity firm that makes control investments in niche manufacturing, value-added distribution and industrial business services companies. The firm seeks to partner with lower-middle market companies to enhance financial performance and generate strategic value creation. For more information, please visit www.crossplanecapital.com.

SOURCE Crossplane Capital