CenterGate Capital (“CenterGate”), an Austin-based private equity investment firm, announced today that its affiliate has made an investment in RC Rasmussen Corporation (“Rasmussen,” or the “Company”), a specialized equipment solutions provider supporting critical marine infrastructure throughout North America.
Established in 1936 and headquartered in Seattle, Washington with three additional locations in California, Louisiana, and Virginia, Rasmussen specializes in rental and sale of equipment and related parts and service support for the marine infrastructure market. Rasmussen is a complete solutions provider to its customers, offering one of the largest fleets of specialized winches, sectional floats, decking, and rigging gear to support essential marine infrastructure including bridge rehabilitation, dam maintenance, waterway dredging, and various other applications.
President Dan Ellis, who will continue to lead Rasmussen, said, “We are excited about our partnership with CenterGate and what it means for our employees, customers, and vendors. CenterGate’s investment will provide us with the capital and strategic resources to continue to grow our capabilities and geographic reach while maintaining our focus on unsurpassed customer service excellence.”
Michael Smith, Managing Director at CenterGate Capital, added, “Dan and the entire Rasmussen team have an impressive track record of growth and a compelling vision for the future. We are excited to partner with Rasmussen to help them continue their success and build a market leading specialty equipment solutions provider.”
CenterGate Capital was represented by McGuireWoods LLP in the transaction.
Oppenheimer & Co. Inc. served as exclusive financial advisor to Rasmussen.
Rasmussen is a leading provider of marine infrastructure specialty equipment rental solutions. Related equipment sale, services, and accessories allows Rasmussen to serve as a one-stop-shop for hundreds of customers. Headquartered in Seattle, Washington, the Company operates throughout North America with additional locations in Belle Chasse, Louisiana, Anderson, California, and Norfolk, Virginia.
About CenterGate Capital
CenterGate Capital is an Austin, Texas-based private equity firm focused on partnering with lower middle market companies with the potential to achieve transformational growth through operational and strategic development. CenterGate brings a balance of financial and operational experience and strategic insight to assist management in driving long-term sustainable growth. For more information, please visit www.centergatecapital.com.