OTSEGO, Mich. - April 6, 2021 - Calder Capital, LLC, is thrilled to announce that Otsego Crane & Hoist Company of Otsego, MI has been acquired by individual investment partners!
Otsego Crane & Hoist Company is a distributor, designer, fabricator, and service provider of overhead material handling equipment. Founded by Ron Hill in 1989, Otsego is a family business that has grown into a stable local leader in the overhead material handling equipment industry. The Company's integrity and commitment to its customers have aided the Otsego Crane & Hoist in attracting a wide array of industrial companies to their loyal client base.
After over thirty years of owning and operating Otsego Crane & Hoist, Ron and his wife Charlotte were ready to begin transitioning into retirement. In late 2019, Ron engaged Calder Capital in seeking a buyer that would allow the Company and its employees to continue to prosper and grow.
"The Calder team was incredibly helpful," said Ron, about the transaction. "It took longer than any of us could've anticipated, but Sam and Matt were professional and patient, and they were always available to answer questions."
Otsego was purchased by two individual investors, both of whom are intellectual property attorneys based in Grand Rapids, Michigan. The partners are eager to get started in continuing to grow this thirty-year Company.
Sam Scharich and Matt Uhl, Mergers and Acquisitions Advisors at Calder Capital, LLC, were the lead advisors on the transaction. They worked closely alongside Ron Hill to find the right buyer to continue the Company's future. "This was a nail-biter of a transaction for everyone involved," said Sam Scharich about the acquisition. "There were many hurdles to overcome due to the pandemic that added many additional steps to the process, yet everyone involved persevered and ultimately the process culminated in a successful transaction with both sides eager to take the next steps."
"[My partner] and I were very pleased when we came across this opportunity," remarked one of the buyers of Otsego Crane & Hoist Co. "We were in the market for an investment opportunity for a while, and we're excited to see where we're able to take the Company. A big thanks to Sam and Matt for all of their help and support through the negotiation process."
Calder Capital, LLC, served as the exclusive Mergers & Acquisitions advisor to Otsego Crane & Hoist Co.
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Contact
Max Friar
caldergr.com
