FOR IMMEDIATE RELEASE – March 7, 2024

Ascent Lifting, Inc. (“Ascent”), a portfolio company of Shorehill Capital (“Shorehill”), announced that it completed the acquisition of CERTEX USA, Inc. (“CERTEX”) 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, Arizona, distributes rigging products including wire rope, chain, synthetic slings, and hardware, and offers related testing services. CERTEX operates from 33 locations throughout the United States. 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.”

Twin Brook Capital Partners, LLC, and GMB Capital Partners provided financing for the transaction. Katten Muchin Rosenman LLP served as legal advisor to Shorehill. Terms of the transaction were not disclosed.

About Ascent Lifting

Ascent Lifting is a full-service distributor and fabricator of lifting and rigging products including wire rope, chain, synthetic slings and other related hardware.  Ascent Lifting is headquartered in Phoenix, AZ and has 38 locations throughout the United States.  Ascent Lifting was formed in 2022 by Shorehill in partnership with the Ascent management team, with the vision of building the leading value-added distributor of rigging products and services throughout the United States.  The long-term strategy is centered on building a strong culture, developing operational best practices to support future growth, and expanding Ascent Lifting’s geographic and product breadth both organically and through acquisition.  For more information, please visit www.ascentlifting.com.

Ascent Lifting is actively seeking acquisitions. Business owners, executives, and M&A intermediaries are encouraged to contact Robert Jackson or Rob Hogan regarding acquisition opportunities.

About Shorehill Capital LLC

Shorehill Capital LLC is a Chicago-based private equity firm investing exclusively in lower middle market North American industrial companies across three sectors: manufacturing, business services, and distribution. Shorehill makes control equity investments in businesses with up to $15 million in EBITDA and enterprise values from $20 million to $150 million, plus add-ons of any size, through its committed $260 million Fund II. For more than 30 years, Shorehill’s partners have worked with middle market business leaders to accelerate growth and improve operational performance through structured investment management plans. Shorehill has a passion for helping to create superior companies and seeks opportunities with differentiated business models where our experience, network, and investment management approach can have a significant impact on the performance of the business. For more information, visit www.shorehillcapital.com.