CHICAGO — Ascent Lifting Inc., a portfolio company of Shorehill Capital, announced Thursday that it completed the acquisition of CERTEX USA Inc. 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, distributes rigging products including wire rope, chain, synthetic slings and hardware, and offers related testing services. CERTEX operates from 33 locations throughout the U.S. 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.”
