Ascent Completes Acquisition of Charleston’s Rigging & Marine Hardware

Deal News | Feb 04, 2025 | Shorehill Capital LLC

Ascent Completes Acquisition of Charleston’s Rigging & Marine Hardware

Ascent Lifting, Inc., a portfolio company under Shorehill Capital, has successfully acquired Charleston’s Rigging & Marine Hardware. This acquisition, completed on February 3, 2025, marks the third strategic expansion for Ascent, which specializes in the distribution and fabrication of lifting and rigging products. As a leading distributor, Ascent Lifting aims to enhance its market presence and diversify its portfolio through this strategic acquisition.

Sectors

  • Manufacturing and Distribution
  • Private Equity

Geography

  • United States – Ascent Lifting, Charleston’s Rigging & Marine Hardware, and their parent company Shorehill Capital are all based in the United States.

Industry

  • Manufacturing and Distribution – Ascent Lifting and Charleston’s Rigging & Marine Hardware operate in the manufacturing and distribution space, specifically within lifting and rigging products.
  • Private Equity – Shorehill Capital is a private equity firm that holds Ascent Lifting, indicating its activities in investment and portfolio management.

Financials

  • N/A – The financial terms of the acquisition were not disclosed.

Participants

NameRoleTypeDescription
Ascent Lifting, Inc.AcquirerCompanyA leading distributor and fabricator of lifting and rigging products.
Shorehill Capital LLCPrivate Equity FirmCompanyA private equity firm managing Ascent Lifting as part of its portfolio.
Charleston’s Rigging & Marine HardwareTargetCompanyA company involved in the rigging and marine hardware industry.