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Monday, September 21, 2020
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Real Estate Southlake-based equity fund expands heavy construction holdings

Southlake-based equity fund expands heavy construction holdings

Other News

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Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

By Bill Bowen Allegiance Crane & Equipment LLC, a holding of the $2 billion private equity fund based in Southlake, Prophet Equity, has completed a deal to acquire the assets and operations of Action Crane Service Inc. of Fort Lauderdale, Fla., for an undisclosed sum. The deal gives Allegiance a broader south-Florida customer base with equipment and personnel in the area to capitalize on the rapidly growing construction work of the region. The acquisition of the 17 mobile cranes in Action Crane’s stable gives Allegiance a total of more than 150 cranes and hoists. The company is based in Pompano Beach, Fla., but has operations in Houston, San Antonio and Carrizo Springs, Texas. “The successful acquisition of Action Crane enhances Allegiance’s South Florida presence and improves its ability to take advantage of the rapidly improving market in the area,” Ross Gatlin, CEO and managing partner of Prophet Equity said in a press release. Prophet Equity pursues investments in lower and middle market companies with strategically strong business with value potential, such as those found in divestitures, non-strategic businesses, corporate carve-outs and others. It has $2 billion in value scattered across 30 entities with combined revenue of $4 billion.

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Latest News

Transwestern to lease Winfield Place

Transwestern Real Estate Services on Sept. 21 announced it is the exclusive sales agent for Winfield Place, a 33,064-square-foot, three-story office building...

Crescent acquires luxury hotel in Metro Atlanta market

Crescent Real Estate LLC on Sept. 17 announced it has  acquired The Hotel at Avalon, a 330-room luxury hotel located in the...

Samuels home in Rockport up for auction, listed for $8.75M

Longtime area car dealer and business leader Allen Samuels died in April and now one of his estates will go up for...

Fort Worth home sales up 8.3% in August

Fort Worth home sales increased 8.3-percent from August 2019 to 1,331 homes in August 2020. Fort Worth’s monthly housing inventory was 1.8...

Peloton Land Solutions expands at Cantey Hanger Plaza

 JLL on Sept. 16  announced the negotiation of a new office lease for Peloton Land Solutions, Inc. The Fort Worth-based planning and...