In its third acquisition of a local business, Alderman Holdings has purchased Dal Industries Inc. in Chattanooga, which owns and operates Dalrymple Rigging & Transport and A1 Hevi-Lift in Chattanooga.
Jeff Dalrymple, who founded and has led the rigging and rental businesses over the past 25 years, said the partnership with Alderman will help ensure the company and its 12-employee staff continues to grow in the future.
"Working with Alderman means that my customers will receive the same Dalrymple standard of safety and service excellence well into the future," Dalrymple said. "This is a great company and a great team of people with a bright future. I look forward to continuing to play a role as Dal Industries grows into the future."
With its own fleet of trucks and trailers, specialty tools and equipment, and crews of professionally certified riggers, Dalrymple Rigging & Transport completes the most complex, mission-critical rigging and moving jobs for the region's largest industrial and manufacturing companies.
Dal Industries also operates A1 Hevi-Lift, which specializes in the rental of Versa-Lift forklifts across the continental United States. A1 Hevi-Lift has one of the largest fleets of Versa-Lifts in the country. Such lifts are designed specifically for moving heavy equipment within plants with its 30-foot crane attachments, and counter-weights providing a lifting capacity of up to 140,000 pounds.
The new owners have hired Chattanooga executive John Arthur Daniel to lead the company through the transition and into its next chapter.
Arthur, who earned an MBA from Vanderbilt University, was previously general manager of infrastructure at Propex Operating Co., and vice president of capacity development at Covenant Transport.
"I am honored to lead this talented team at Dal Industries which has unmatched expertise and experience, and I'm excited Jeff Dalrymple will remain as a mentor, advisor and special project manager as we continue to provide the best rigging and machinery moving as well as and heavy-lift equipment rental in the region."
Andrew Kean, a partner in Alderman Holdings, said the new owners are adding a second rigging crew and expect to acquire more equipment for both the rigging and rental businesses over time.
"But we've learned with the businesses we have partnered with is that our future success is dependent upon a smooth, healthy transition [of ownership and leadership] and that's always our focus in the first year of any of our acquisitions," he said.
Alderman Holdings is a Chattanooga-based partnership that invests in companies facing an ownership transition. Kean said Alderman holds its investments for the long term, focuses on building exceptional teams, and takes a hands-on approach to growing companies.
Over the past three years, Alderman also has acquired Majestic Stone and Southeastern Tool & Design Inc.
Alderman was advised in its purchase of Dal Industries by Miller & Martin and Elliott Davis Decosimo, and bank financing was provided by SmartBank.
Contact Dave Flessner at email@example.com or at 757-6340.