Louisiana rental business acquired by private equity firm

Private equity firm Allied Industrial Partners has acquired a majority share of Louisiana-based Trinity Industrial, an equipment rental business focused on industrial, utility and energy customers across the Gulf Coast. The terms of the transaction were not disclosed.

Trinity was founded in 2020 by Jonathan and Patrick Foreman. They and other members of senior management will retain some ownership in the business and continue in their roles.

The company began as a rental and specialist services business to support communities in the aftermath of hurricanes and natural disasters – especially around power and water supply - but has since expanded through acquisitions and a wider fleet to become a more general rental company.

Allied Industrial said the business was now well positioned to capitalise on “significant demand tailwinds driven by accelerating infrastructure investment and utility build-out across the Southeast”.

It said future growth would be organic as well as through acquisitions.

Jonathan and Patrick Foreman, Trinity’s co-founders, said; “We founded Trinity to be the go-to equipment rental and specialty services provider for industrial and utility customers, and this partnership will help fuel the next step in our evolution.

“Allied shares our growth mindset and values, and we are confident this partnership will allow us to expand our footprint and serve more customers in increasingly vital sectors.”

The company has five depots in Broussard, Houma, Morgan City, Lake Charles and Belle Chasse.

The co-founders and managing partners of Allied Industrial, Bradford Rossi and Philip Wright, added; “We are excited to partner with Jonathan, Patrick, and the team at Trinity to scale the platform into a leading Gulf Coast rental and specialty services provider.

“Trinity’s entrepreneurial culture, strong customer relationships, and footprint in high-growth end markets align closely with Allied’s track record of building resilient, infrastructure-focused businesses.

“We see many opportunities to grow the business through additional acquisitions as well as organically.”