Ascent Lifting, Inc. (“Ascent”), a portfolio company of Shorehill Capital (“Shorehill”), announced that it completed the acquisition of CERTEX USA, Inc. (“CERTEX”) last year. This marks the second acquisition for Ascent, a leading value-added distributor and fabricator of lifting and rigging products.
CERTEX, headquartered in Phoenix, Arizona, distributes rigging products including wire rope, chain, synthetic slings, and hardware, and offers related testing services. CERTEX operates from 33 locations throughout the United States. The Ascent-CERTEX combination represents a significant step in Ascent’s strategy to become the most trusted, respected, and preferred partner in the lifting industry.
“We are excited to partner with Ascent Lifting and Shorehill Capital. They share our vision for long-term profitable growth. The strategic and cultural alignment along with industry reputation were an important factor in our decision,” said Dee Schweigert, CEO of CERTEX and the new CEO of Ascent. “We look forward to executing our shared vision of delivering to our customers, industry leading lifting solutions, quality, and safety. Our goal is to be the employer and acquiror of choice in the industry.”
“The combination of Ascent Lifting and CERTEX creates an industry leading supplier of lifting solutions. The shared vision and commitment to excellence make this partnership incredibly exciting,” said Robert Jackson, Managing Director at Shorehill. “We look forward to supporting Ascent in executing its growth strategy, including the pursuit of strategic acquisitions to improve scale in select geographies and to expand into new markets.”
Twin Brook Capital Partners, LLC, and GMB Capital Partners provided financing for the transaction. Katten Muchin Rosenman LLP served as legal advisor to Shorehill. Terms of the transaction were not disclosed.
About Ascent Lifting
Ascent Lifting is a full-service distributor and fabricator of lifting and rigging products including wire rope, chain, synthetic slings and other related hardware. Ascent Lifting is headquartered in Phoenix, AZ and has 38 locations throughout the United States. Ascent Lifting was formed in 2022 by Shorehill in partnership with the Ascent management team, with the vision of building the leading value-added distributor of rigging products and services throughout the United States. The long-term strategy is centered on building a strong culture, developing operational best practices to support future growth, and expanding Ascent Lifting’s geographic and product breadth both organically and through acquisition. For more information, please visit www.ascentlifting.com.
Ascent Lifting is actively seeking acquisitions. Business owners, executives, and M&A intermediaries are encouraged to contact Robert Jackson or Rob Hogan regarding acquisition opportunities.
About Shorehill Capital LLC
Shorehill Capital LLC is a Chicago-based private equity firm with a passion for creating superior companies. Shorehill is focused on making control equity investments in North American engineered industrial products, industrial services, and value-added distribution companies with enterprise values ranging from $20 million to $150 million, and add-ons of any size. Shorehill seeks opportunities with differentiated business models where its experience, network and investment management approach can have a significant impact on the performance of the business. For nearly 30 years Shorehill’s partners have worked with middle market business leaders to accelerate growth and improve operational performance through structured investment management plans. For additional information, please visit www.ShorehillCapital.com.