American Equipment Solutions sale follows sixfold revenue growth

By Nathan Brooks

American Equipment Solutions grew revenue sixfold and expanded to more than 40 locations before Rotunda Capital Partners completed its sale of the overhead-crane and material-handling services company.

Rotunda invested in American Equipment in May 2021. During the partnership, the company completed 16 add-on acquisitions and expanded its geographic reach and service capabilities. The result was a national operation serving thousands of customers across the United States.

Ryan Aprill, a partner at Rotunda Capital Partners, said: “Since partnering with American Equipment in May of 2021, the Company has achieved transformational growth. 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.”

A scaled service platform built in Salt Lake City

Founded by Adam Zimmerman in 1969 and based in Salt Lake City, American Equipment Solutions provides:

• Overhead cranes, hoists and below-the-hook equipment.
• Maintenance, repair and operations services.
• Inspections required by the Occupational Safety and Health Administration, preventive maintenance, field repairs and replacement parts.
• Engineering, fabrication, automated systems, equipment modernization and employee training.

The company serves thousands of customers across the U.S. Its expanded geographic reach and service portfolio now sit within a national platform rather than a single-city operation.

The acquisition engine behind the growth

Rotunda invested in American Equipment’s leadership, corporate infrastructure, data systems and acquisition capabilities. It also helped establish an internal acquisition team to identify and integrate additional businesses. That team supported 16 add-on acquisitions during Rotunda’s ownership period.

CEO Tom Hoyer said: “Through our partnership with Rotunda we have never strayed from our core value—to provide best-in-class products, parts and service through strong relationships with our customers. The Rotunda team provided us with the operational tools, distribution and service expertise and acquisition assistance to help the Company get to where it is today.”

American Equipment University focused on the technician side of the expansion. The internal program trains and develops technicians, supporting the company’s ability to recruit skilled employees and maintain service quality as its location network grows.

What changes for customers and employees after the sale?

Ownership changes, but the operating leadership does not. Tom Hoyer will continue leading American Equipment Solutions alongside the existing management team, maintaining management continuity through the ownership transition.

Founder Adam Zimmerman said: “My partnership with Rotunda was exactly what I envisioned, and they lived up to everything they promised when I first met them in 2021. I am incredibly appreciative of the partnership and grateful for their support.”

Zimmerman also indicated that the company plans to continue pursuing demand for its products and services under its next ownership group. For customers, the disclosed change sits at the ownership level rather than the management level. For employees, American Equipment University remains the company’s stated tool for recruiting skilled workers and maintaining service quality as locations expand.

Why the sale fits Rotunda’s strategy

Rotunda said the sale fits its strategy of transforming family-, founder- and management-owned industrial businesses into larger, data-driven platforms through operational investment and acquisitions. American Equipment’s 16 add-ons and sixfold topline growth provide the clearest evidence of that playbook.

Rotunda manages approximately $1.5 billion in assets, including a $735 million fund, or roughly half of its total managed assets. It invests in value-added distribution, asset-light logistics, and industrial and business services companies with enterprise values generally ranging from $50 million to $400 million.

Lincoln International served as lead financial adviser, while Benesch Friedlander Coplan & Aronoff provided legal counsel.

The next ownership group inherits a company with topline six times its pre-partnership level and more than 40 locations. The test ahead is whether Hoyer’s team can preserve technician depth and service quality while pursuing demand under the next owner.