Turnspire acquires Crane Carrier Co.

Turnspire Capital Partners LLC, New York, announced that it has acquired Crane Carrier Co, New Philadelphia, Ohio.

January 4, 2019
Edited by Adam Redling

Turnspire Capital Partners LLC, New York, has announced that it has acquired Crane Carrier Co. (CCC), New Philadelphia, Ohio.

The company was previously owned by Hines Corp., Spring Lake, Michigan, under the umbrella of Hines Specialty Vehicle Group. In conjunction with acquiring CCC's operations, Turnspire and company management have made a substantial investment into CCC and will continue to support the company with financial and strategic resources, the company says in a news release.

CCC consists of three brands, including the namesake Crane Carrier Co., Crane Carrier Co. Engineered Chassis, and CyKlone Mixers with Kimble Technology. Under the new agreement, CCC will continue under the leadership of company President and CEO Randy Rollins.

“It's an exciting time for the growth and development of our company," Rollins says. "Demand for the quality and durability of our products is growing as we continue to attract prominent customers and expand our aftermarket parts and customer service networks. Uniting with Turnspire and their record of fostering operational excellence and growth initiatives will allow us to best position Crane Carrier Co. for the future."

"An iconic brand, Crane Carrier Co. is an ideal fit for our strategy of investing in high-quality businesses in specialty markets," Ilya Koffman, managing partner at Turnspire Capital Partners, says. "We look forward to working with the talented, experienced and dedicated leadership team and valued employees of CCC to support the company's continued growth through their best-in-class products and superior customer service."