Phoenix-based Lift and rigging products distribution and fabrication platform Ascent Lifting completed its acquisition of Charleston’s Rigging & Marine Hardware (CRMH) on Feb. 3. Terms of the transaction were not disclosed.
Ascent was formed in late 2022 by private equity firm Shorehill Capital and has since made five acquisitions, including CRMH.
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Based in Charleston, SC, CRMH is a distributor and fabricator of industrial rigging products and safety solutions. The company has a crane service segment which serves industrial demand centers, including defense, infrastructure, mining and manufacturing. CRMH operates two from two full-service locations in South Carolina — Charleston and Columbia — with fabrication and load testing abilities.
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“We’re thrilled to partner with Jessica, Skip, and the entire CRMH teams,” Ascent Lifting CEO Dee Schweigert said in a Feb. 4 news release. “This strategic partnership strengthens our ability to deliver high-quality solutions to our customers and establishes two physical locations in the highly attractive South Carolina market. We intend to be the acquirer of choice in the rigging industry and add great people and companies to the Ascent Lifting and CERTEX teams. CRMH is a prime example of this strategy.”
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