Updated:
The Carpenter Group Profit Sharing Plan
The Carpenter Group Profit Sharing Plan is the retirement vehicle for employees of The Carpenter Group, a San Francisco-based supplier of rigging, heavy...
The Carpenter Group Profit Sharing Plan
The Carpenter Group Profit Sharing Plan is the retirement vehicle for employees of The Carpenter Group, a San Francisco-based supplier of rigging, heavy lifting equipment, wire rope, and lifting slings. Bruce Yoder, who acquired the company in 2008, serves as President and Owner. The underlying business operates from its headquarters on Napoleon Street in San Francisco and maintains additional industrial facilities in San Diego, Hayward, Oakland, and Jacksonville, Florida — the latter through its Consolidated Rigging & Marine Supply arm. The profit-sharing plan is not a multi-employer or public fund; it is a single-company plan whose asset base is linked entirely to the financial performance of Yoder's industrial supply operations. The plan's investment strategy is not publicly disclosed. As a private company profit-sharing plan, its assets are likely held in a fiduciary trust with allocations to public equities, fixed income, and potentially real estate or private funds. The plan's relationship to the company's own industrial properties — five facilities across two states — raises the structural question of whether any plan assets are invested in company-owned real estate, a configuration seen in some closely held ESOP and profit-sharing structures. Without public filings, the asset mix, custodians, and fund managers remain opaque. Bruce Yoder maintains deep ties to the heavy engineering and rigging industry through association memberships that shape the company's network. He served as President of the Associated Wire Rope Fabricators (AWRF) in 2011 and holds memberships in The Beavers, the Associated General Contractors of California (AGC-CA), and the Specialized Carriers & Rigging Association (SC&RA). These affiliations place the firm at the center of the infrastructure and industrial construction ecosystem on the West Coast. Former owner Bernie Martin remains involved in industry associations, suggesting continuity of relationships through the 2008 ownership transition. The plan's defining structural feature is its integration with a privately held operating company that owns hard industrial assets. Unlike corporate pension plans of public companies, there are no SEC filings, no public actuarial reports, and no external beneficiaries beyond the company's own workforce. For an institutional allocator or peer family office, this architecture means the plan's liquidity, contribution patterns, and investment horizon are entirely a function of The Carpenter Group's revenue from rigging and lifting equipment sales and service contracts — a cyclical, project-driven business tied to construction, marine, and industrial activity.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
San Francisco
Corporate office
San Francisco, CA, United States
Additional offices
San Diego, CA · Oakland, CA · Hayward, CA · Jacksonville, FL
Principals
Bruce Yoder
President and Owner
Frequently asked questions
Who controls investment decisions for the plan?
As a private company profit-sharing plan, investment governance rests with the plan's trustees, a group likely to include owner Bruce Yoder and potentially appointed officers of The Carpenter Group. The plan may employ an external registered investment advisor or third-party fiduciary to manage asset allocation and fund selection, though no public mandate or RFP documents confirm this. The absence of SEC filings means the governance structure remains private.
How is the plan funded, and what drives contribution levels?
Profit-sharing plans are funded at the discretion of the employer based on annual profitability. Contribution levels to The Carpenter Group Profit Sharing Plan therefore track the operating performance of the rigging, heavy lifting, and wire rope distribution business across its five facilities. In cyclical industrial sectors, contributions can vary materially year to year, and there is no external sponsor or multi-employer base to smooth inflows.
What is the relationship between the plan's assets and the company's industrial real estate?
The Carpenter Group owns at least five industrial properties across California and Florida. Whether the profit-sharing plan holds any interest in these properties — through direct ownership, a real estate investment trust allocation, or a leaseback structure — is not publicly documented. In some closely held companies, plan assets and operating real estate are kept strictly separate; in others, company stock or property can be a plan asset. The structure here is undisclosed.
Does the plan qualify as an ERISA fiduciary, and what reporting obligations does it have?
Yes, as a US private-sector profit-sharing plan, it is governed by ERISA and must file Form 5500 annually with the Department of Labor. Those filings contain information on plan assets, number of participants, and funding status but are not always publicly accessible for smaller plans that fall below certain audit thresholds. The plan's fiduciaries have statutory duties of loyalty and prudence under ERISA.
What industries drive the underlying company's revenue and therefore the plan's financial base?
The Carpenter Group supplies rigging, heavy lifting equipment, and wire rope to the construction, marine, infrastructure, and industrial sectors. Its memberships in the Associated General Contractors of California, the Specialized Carriers & Rigging Association, and The Beavers indicate deep exposure to heavy civil and engineering construction activity. Revenue is project-driven and tied to capital spending cycles in West Coast infrastructure and industrial maintenance.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on pension funds?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: