Russell Equipment sits in the aftermarket lane of material handling. It buys off-lease forklifts and related gear, then sells equipment, components, and services to dealers and other buyers. On Sept. 10, 2026, Austin private-equity firm Chimney Rock Equity Partners said it made a strategic investment in Russell. The price was not disclosed.
That is not a caster-brand acquisition. It is an ownership change at a Twinsburg, Ohio, aftermarket house. Russell started with one location in 1982 and now lists four U.S. sites and customers in more than 25 countries, according to the announcement. Mike Russell, from the founding family, will stay on the board. Jeff Stone, who has run operations since 2021, stays president and chief executive. The practical question for a dealer or fleet buyer is who signs the next deal — and the release says Stone remains in the CEO chair.
Chimney Rock partners Robert Aikman and William Bishop said the firm is partnering with Russell’s team on further expansion. Mike Russell said the firm will pursue organic growth and acquisitions. Those are forward plans in a press release, not closed follow-on deals. Advisors named on the Chimney Rock side included Stephens Inc., Sheppard, and KPMG. Eide Bailly and BakerHostetler advised the seller.
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Limits
Ownership, leadership, location, and “terms not disclosed” lines are from the Sept. 10, 2026 Business Wire announcement as republished by Middletown Life and TMCnet. The businesswire.com page returned HTTP 403 from this desk; the syndications link the source version at businesswire.com/news/home/20260910333323/en/. Purchase price, equity percentage, and debt were not stated. This desk did not review a purchase agreement. The photograph is a distribution-centre aisle stand-in. It is not a Russell Equipment yard.
Sources
- Chimney Rock Equity Partners via Business Wire syndication, Sept. 10, 2026 (Middletown Life): Chimney Rock invests in Russell Equipment
- Same release via TMCnet/Business Wire submit: TMCnet republication
- Business Wire source URL cited by syndications (403 from this desk): businesswire.com/news/home/20260910333323/en/
