01.12.2017

Custom Equipment acquired

Strated-Cambridge group, a small private equity firm from Plymouth, Michigan, has acquired a controlling interest - 80 percent - in Hy-Brid, low level scissor lift manufacturer Custom Equipment.

Custom Equipment was owned and managed by Steve Kissinger and family - which retains a 20 percent stake in the business - and is based in Richfield, Wisconsin, with a fabrication plant in West Bend, Wisconsin. No details of the transaction have been released.

Stratford-Cambridge tends to invest in niche manufacturing companies, based in the Midwest, with annual Earnings Before Interest, Taxes, Depreciation and Amortisation of between $1 and $5 million. This will be the fifth company in its portfolio, the others being Fluid Air Controls, Sterling Technologies which makes electrical wiring harnesses and controls, Aetna bearings and Speedgrip Chuck.
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Steve Kissinger at the controls of the Hy-Brid 5530 -

Stratford-Cambridge's managing director Stephen Ellis said: "We are very excited at the prospect of partnering with the Custom Equipment team to continue and accelerate their history of growth and innovation. We saw a great company here that checks all of the boxes in regard to our investment criteria and we are looking forward to this next chapter in the history of Custom Equipment,"

Custom Equipment was established in 1981 by Steve and Lynn Kissinger as a fabrication and welding repair business in West Bend, Wisconsin. It then designed and manufactured the ‘2-in-1’ scissor lift for use in mausoleums. In 2004 it started manufacturing scissor lifts for the construction and industrial markets, including the HB-1030 Hy-Brid lift and has expanded steadily since then, adding its Richfield headquarters and assembly plant in 2010. Today it sells its growing range of scissor lifts worldwide.
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Steve and Lynn Kissinger

Steve Kissinger said: “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.”