Otsego Crane & Hoist is a distributor, designer, manufacturer and service provider of overhead material handling equipment for industrial customers in the USA Courtesy Otsego Crane & Hoist
Two local attorneys have acquired an overhead material handling equipment company in Allegan County.
Otsego Crane & Hoist Company, based in Otsego, was recently acquired by two Grand Rapids-based intellectual property attorneys who wish to remain anonymous, according to Calder Capital, who acted as the exclusive advisor on mergers and acquisitions to Otsego Crane & Hoist on the transaction .
The terms of the contract were not disclosed.
Founded in 1989 by Ron Hill, Otsego Crane & Hoist is a distributor, designer, manufacturer, and service provider of overhead material handling equipment for industrial customers in the United States, primarily in Michigan. The company employs six people and sells complete bridge crane systems, powered and manual hoists, garland systems and other accessories and parts for material handling equipment. Otsego also offers preventive maintenance, inspections, repairs, upgrades, and more.
After owning and operating Otsego Crane & Hoist for 32 years, Hill and his wife Charlotte Hill were ready to retire. In late 2019, Hill hired Calder Capital to find a buyer. Sam Scharich and Matt Uhl were the main advisors to the transaction.
“The Calder team has been incredibly helpful,” said Hill. “It took longer than any of us expected, but Sam and Matt were professional and patient, and were always available to answer questions.”
Buyers said they are eager to start Otsego Crane & Hoist’s continued growth.
“(My partner) and I were delighted to find this opportunity,” said one of the buyers. “We’ve been in the market for a while looking for an investment opportunity and we’re excited to see where we can take the company.”