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Ramsey Industries Receives Equity Investment from Norwest Equity Partners to Drive Next Phase of Growth

Dec 15th, 2017 | By | Category: Industry News

Ramsey Industries (“Ramsey” or the “Company”), a leading manufacturer of service cranes, industrial and commercial winches, planetary gear, and digger drives, announced that it has received a significant capital investment from Norwest Equity Partners (“NEP”), a leading middle market investment firm founded in 1961. The transaction closed on November 6, 2017; financial terms were not disclosed.

The company was founded in 1944 by Claude and Rayburn Ramsey as Ramsey Brothers Tool & Die to manufacture aircraft parts, tools, and dies for Douglas Aircraft Company. Today Ramsey is comprised of three wholly-owned branded subsidiaries, Auto Crane®, Eskridge® and Ramsey Winch®.

Eskridge® is a designer, manufacturer of planetary gear drives and anchor drives as well as the digger drives and multiple-disc brakes. Auto Crane® designs and manufactures a comprehensive line of truck-mounted electric and hydraulic telescopic cranes, crane service bodies, crane control technologies, accessories and mobile solutions for the energy, mining, construction, industrial, forestry, and railroad industries. Ramsey Winch® designs and manufactures industrial and consumer winches for towing and recovery, industrial, petroleum, off-road and ATV vehicles.

John Celoni, Ramsey CEO, stated, “On behalf of the entire Ramsey team, we are thrilled to partner with NEP for the next phase of our growth. NEP has a long-standing reputation for not only successful investments but continued advancement and implementation of strategic initiatives for its portfolio companies. There is a great cultural fit between our two teams, and we are excited to leverage NEP’s capital, network and vast resources, as well as its high-quality competence as an investment partner.”

Tim Kuehl, NEP Partner, stated, “Ramsey’s highly diversified business model, experienced management team, excellent customer service, and premium brand portfolio differentiates them amongst their competitors. We look forward to working together with John and his team to leverage the Company’s already superior platform for continued growth.”

BB&T Capital Markets advised Ramsey on the transaction; Winston & Strawn provided legal services for NEP; Ally Corporate Finance, ING Capital, and Siemens Financial Services served as senior lenders; and Norwest Mezzanine Partners served as mezzanine lender.

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