Schramm, Inc. expands aftermarket services segment through Hardwick Machinery joint venture

7/1/2020

WEST CHESTER, PA – Schramm, Inc., a manufacturer of hydraulic rotary drilling rigs, announced a new joint venture with longtime collaborator Hardwick Machinery, a prominent equipment design, repair and rebuilding firm based in Salt Lake City, UT. The combination will enable Schramm to deliver a wider array of aftermarket services to customers worldwide, including same-day on-site maintenance at mines throughout the western United States.

The partnership with Hardwick is a keystone of Schramm’s long-term strategy to complement its existing backlog of OEM rig sales with superior aftermarket maintenance and support services for gold and other resurgent mining segments in Australia, the western U.S., Canada, China and Chile.

To further facilitate its growth strategy, Schramm, Inc. announced that board member Otis Spencer, will transition from his current role of Operating Partner at parent company GenNx360 Capital Partners, and assume the position of President and Chief Executive Officer of Schramm, Inc. Mr. Spencer has been deeply involved with Schramm since joining GenNx360 in 2014. Following Schramm’s acquisition, he assisted with the integration of two bolt-on companies as well as the development of the overall enterprise and was subsequently appointed a member of the Schramm, Inc. board of directors in 2019. Mr. Spencer’s appointment signifies GenNx360’s commitment to the overall success of Schramm.  

Mr. Spencer succeeds Craig Mayman, who will become Schramm’s Executive Vice President of Sales, Marketing & Aftermarket. From his new base in Adelaide, South Australia, Mr. Mayman will oversee Schramm’s business development and calibration toward the mining market segment by identifying and executing strategic partnerships that will further enhance Schramm’s original equipment and aftermarket offerings. In addition, Mr. Mayman will direct all operations in Australia, currently the world’s most active mining market and a cornerstone of Schramm’s global business.

“I am honored by the trust placed in me by GenNx360 and Schramm’s board of directors and energized by the positive growth opportunities before us at Schramm,” Mr. Spencer said. “Despite significant global business challenges due to the coronavirus, we have a strong backlog of new rig orders and several large aftermarket opportunities through our Brisbane and Perth facilities. This new joint venture with Hardwick Machinery further accelerates both our spectrum and delivery of services to customers throughout the American West and globally, underscoring Schramm’s worldwide commitment to premier customer support.”

Justin Hardwick, President of Hardwick Machinery, said, “After many years of close cooperation between Hardwick and Schramm, we have elected to double down on our relationship. The product of this partnership will be nothing less than a powerhouse of the global drilling industry, an integrated entity capable of building and maintaining rigs from end to end. The biggest winners of the joint venture are our customers, who will enjoy speedy, reliable and quality service, no matter where in the world they are operating.”

Craig Mayman, Executive Vice President of Schramm, Inc., added, “It was my honor to serve as President of Schramm for the past 2 years and my pleasure to see a leader of Otis Spencer’s caliber and vision take the reins. After finalizing the joint venture with Hardwick Machinery, I look forward to returning home to Adelaide to lead Schramm’s rapidly-expanding Australian operations as well as global business development for the company.”

Mr. Mayman will continue to work from West Chester for several months before moving back to Australia after more than a decade in the U.S., including nearly 5 years of distinguished service to Schramm in various capacities.

 

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