Stratford-Cambridge Group acquires Custom Equipment
By Stratford-Cambridge GroupNews Mergers, acquisitions, entries and exits
Dec. 11, 2017 - An affiliate of Stratford-Cambridge Group (SCG), Plymouth, Mich., has acquired Custom Equipment, Richfield, Wis., with an additional manufacturing facility in West Bend, Wis.
Founded in 1981 as a welding and fabrication business, Custom Equipment first developed lifts for the cemetery and mausoleum markets, which evolved into a full product range of scissor lifts and aerial work platforms under the HyBrid Lifts™ brand for the construction and industrial markets featuring an electric drivetrain, low weight and high maneuverability.
“Our family started this business over 36 years ago and are very proud of what we’ve built and the relationships that we’ve made. Today, we are happy to announce our partnership with Stratford-Cambridge Group. They see the value in our products and understand the rich history that we have developed over the years with our customers, vendors and employees. We see this as a great opportunity to continue growing the company, while continuing to maintain those relationships,” said Steve Kissinger, who founded the business along with his wife, Lynn.
The sellers are going to retain a 20 percent stake in the business post-close and chose to partner with SCG for their financial, strategic and operational expertise, and in order to continue the growth trajectory that the company has enjoyed in its recent history.
“We are very excited at the prospect of partnering with the Custom Equipment management team to continue and accelerate their impressive history of growth and innovation. Custom Equipment checks all of our boxes in regard to our investment criteria: highly engineered product line, impressive growth trajectory and strong management team. We are looking forward to this next chapter in the history of Custom Equipment,” said Stephen Ellis, managing director of SCG.
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