SCG acquires Custom Equipment and Hy-Brid Lifts brand
An affiliate of Stratford-Cambridge Group (SCG) has acquired Custom Equipment. Founded in 1981 as a welding and fabrication business, Custom first developed lifts for the cemetery and mausoleum markets which evolved into a full product range of scissor lifts and aerial work platforms 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% 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 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.
Based in Plymouth, MI, Stratford-Cambridge Group (SCG) is a boutique private equity and investment firm focused on acquiring niche manufacturing companies in the Midwest and Great Lakes Region. Founded in 1981, Custom Equipment Inc. is a world-class designer and manufacturer of specialized scissor lifts sold primarily under the Hy-Brid Lifts brand. The Company's products are differentiated through superior design, compact footprint, light weight, greater maneuverability, and exhaust-free battery power, which allows access to tighter areas than competing equipment.