Granite Creek Capital Partners invests in C&C Manufacturing
Granite Creek Capital Partners, a private investment firm based in Chicago, has partnered with Equivu Capital (Equivu) on an investment in C&C Manufacturing (C&C), a manufacturer and distributor of heavy equipment, providing high-quality machinery to the scrap metal recycling, waste management, and airport maintenance equipment markets alongside a suite of aftermarket replacement parts and value-added services.
As part of the transaction, Equivu, the investment arm of entrepreneur Salvatore Calvino, has acquired a majority stake in C&C. In addition, Calvino was named CEO of C&C Manufacturing.
Granite Creek and Equivu’s investments, along with Calvino’s leadership, will enable C&C to capitalise on strong customer demand for its market-leading products through increased working capital investment, broadening its employee base and management team, and expanding its parts and services offerings.
Calvino, an experienced executive and entrepreneur, founded, operated, and invested in several aviation services companies. He founded his first company in 1985 and sold his group of companies to a strategic acquiror in 2015, having grown the platform from 40 to 4,200 employees.
Granite Creek’s investment in C&C Manufacturing was made from its USD200 million fund, Granite Creek FlexCap II, LP (FlexCap II). Granite Creek targets investments in companies engaged in manufacturing, business services, healthcare, and agribusiness. The investment team plays an active role with the leadership of its portfolio companies to support growth, strategy and financial development.
“We are thrilled to partner with Sal on this transaction. We are impressed by Sal’s track record of building successful businesses, and his experience positions him well to lead C&C into its next phase of growth,” says Mark Radzik, Co-Founder and Managing Partner at Granite Creek Capital Partners, LLC. “C&C’s well-known brands, market-leading products, and strong customer support position the company for continued success.”
“I am extremely excited to be partnering with Granite Creek on this investment in C&C Manufacturing. They are a great fit to help us build and grow C&C far into the future,” says Salvatore Calvino, CEO of C&C Manufacturing. “C&C will remain focused on building the industry’s best multi-purpose snow removal equipment, landfill compactors, and scrap metal loggers to serve the needs of our customers.”