DFW Capital Partners has made an investment in American Equipment, a Salt Lake City-based provider of inspection, repair and parts for overhead cranes and hoists, from Rotunda Capital Partners. It is the first platform investment from DFW’s current fund.
American Equipment keeps the overhead cranes in factories, warehouses and plants running. It sells and installs overhead bridge cranes, gantry cranes, jib cranes, workstation cranes and hoists, and stocks the parts and components that go with them, including controls, energy supply systems and automation equipment.
Much of its work is recurring service. The company performs the crane inspections required by the Occupational Safety and Health Administration, along with preventive maintenance, emergency repair and 24-hour parts service. It also modernizes older cranes, which it says can cost up to 50% less than buying new equipment, and trains crane operators.
Below the hook, the term for the lifting devices that hang from a crane, American Equipment supplies slings, wire rope, blocks and fall-protection gear, much of it under its Ashley Sling brand, and provides load testing and rigging inspection. It also offers engineering, ISO-certified fabrication and automated material handling systems.
“American Equipment is exactly the type of partnership opportunity we look for: a market leader with a strong culture and vision, delivering a differentiated value proposition to its customers,” said Andrew White, a partner at DFW. “We are excited to work with Tom and the management team to support this next chapter of growth.”
American Equipment was founded in 1969 by Adam Zimmerman. The company operates under a family of regional brands that includes Amquip, Allied Crane, Patriot Crane & Hoist, Kistler Crane & Hoist, Shannahan Crane & Hoist and Systems Specialties. Salt Lake City-based American Equipment is led by CEO Tom Hoyer, who will continue to lead the business with the existing management team.
“We are excited to partner with DFW as we continue building American Equipment into the leading provider of overhead lifting solutions nationwide,” said Mr. Hoyer. “Their experience supporting industrial services businesses and shared commitment to investing in our people and capabilities make them the right partner as we pursue the significant opportunities ahead of us.”
“My partnership with Rotunda was exactly what I envisioned, and they lived up to everything they promised when I first met them in 2021,” said Mr. Zimmerman. “I am incredibly appreciative of the partnership and grateful for their support. The entire American Equipment team is thrilled to embark on this new chapter. Our platform is perfectly suited to continue taking advantage of the growing demand for our products and services.”
Under Rotunda, the company built out its leadership team and corporate systems, set up an in-house acquisition team, and created American Equipment University to train technicians internally. Its acquisitions included Industrial Hoist & Crane, ASR Crane, Quality Crane Service, Patriot Crane & Hoist, Systems Specialties and Shannahan Crane & Hoist in 2022 and 2023, and BC Wire Rope & Rigging, a California-based maker of slings and lifting hardware, in September 2026.
“Since partnering with American Equipment in May of 2021, the company has achieved transformational growth,” said Ryan Aprill, a partner at Rotunda. “Through 16 add-on acquisitions and significant strategic operational investments, the company has increased topline sixfold to become a national service provider with more than 40 locations serving thousands of customers nationwide.”
Overhead crane service is a business built on regulation and downtime. OSHA requires periodic inspection of overhead cranes and hoists, and a crane that fails takes a production line down with it, so plant operators tend to buy inspection, repair and parts from a provider that can respond quickly and locally.
Rotunda acquired American Equipment in May 2021. Over the past five years the company completed 16 add-on acquisitions and grew revenue sixfold, expanding from a regional crane service business to more than 40 locations serving thousands of customers.
“The American Equipment growth story is a great example of Rotunda’s dedication to transforming family, founder, and management-owned companies into data-driven growth platforms,” said Corey Whisner, a managing partner at Rotunda. “During our partnership, we invested to expand the company’s leadership team, developed corporate infrastructure and systems, built an in-house acquisition team, and developed American Equipment University to train and develop technicians in-house.”
The market is fragmented, served largely by independent regional shops and by the service arms of crane manufacturers. That combination of recurring, compliance-driven demand and many small competitors have made crane and hoist services a frequent target for private equity roll-ups.
New York City-headquartered DFW Capital Partners invests in service companies, with an emphasis on outsourced business and industrial support services, and healthcare companies that have revenues of up to $200 million and EBITDA up to $20 million. The firm has been investing since 1983 and is currently investing from DFW Capital Partners VIII.
Rotunda Capital Partners makes control investments in family-, founder- and management-owned companies with enterprise values of $50 million to $400 million and pursues add-on acquisitions of any size. Sectors of interest include value-added distribution, asset-light logistics, and industrial and business services.
“Tom Hoyer, Bob Creighton and the whole American Equipment team have been outstanding partners, and the strength of the organization today is a testament to their leadership and dedication,” said Dan Lipson, a managing partner at Rotunda. “Rotunda is extremely proud of the platform American Equipment has become and the path to continued growth they have in front of them.”
Rotunda manages about $1.5 billion, including its fourth fund, which closed in May 2025 with $735 million. The firm was founded in 2009 and has offices in Bethesda, Maryland, and Evanston, Illinois.
Lincoln International was the financial advisor to Rotunda and American Equipment.
