Time Manufacturing Company Announces It Has Been Acquired by H.I.G. Capital
In a press release dated December 1, 2021, Time Manufacturing Company announced that it has been acquired by H.I.G. Capital, a global private equity and alternative asset management company. The acquisition will allow Time Manufacturing to continue to strengthen its ability to support its growing base of infrastructure customers.
According to CEO Curt Howell, “This acquisition strengthens the future of our company, and it enables greater opportunities for all of us as we continue to expand into new regions. With a broader global footprint, we will have more people on the ground in more places, and be able to offer more equipment and greater service capacity to more customers.”
The H.I.G transaction will catalyze the company’s Global Growth Plan, which has been in place since 2017. Since that time, Time Manufacturing has experienced significant profitable growth, both domestically and internationally, including nine acquisitions and the addition of distribution hubs across Europe and in Asia.
The press release can be read here in its entirety at the link below.
https://www.prnewswire.com/news-releases/time-manufacturing-company-is-acquired-by-hig-capital-from-the-sterling-group-301437314.html
WACO, Texas, Dec. 3, 2021 /PRNewswire/ — Time Manufacturing Company (“Time”), and its associated brands, facilities, and operations, has been acquired by H.I.G. Capital from The Sterling Group. The Sterling Group purchased Time Manufacturing Company from a family that had owned it for more than 40 years. The H.I.G. transaction will catalyze the company’s Global Growth Plan, which has been in place since 2017. Over that period, Time Manufacturing Company has experienced significant profitable growth, both domestically and internationally, including nine acquisitions and the addition of distribution hubs across Europe and in Asia.
Curt Howell, CEO of Time Manufacturing Company commented, “We are excited to enter into this new chapter with H.I.G. as we continue to support our customers with best-in-class safety, quality, and service, while providing our employees with a great place to work and grow in their careers. The resources and industry knowledge that H.I.G. brings, combined with its proven ability to help companies grow through acquisition, will allow us to accelerate our growth plan.” Mr. Howell, who will continue his leadership role, expressed optimism. “With this partnership, we are confident we will expand our already industry-leading position and, most importantly, continue to satisfy the needs of our customers.”
H.I.G. is a leading global private equity and alternative asset investment firm with over $45 billion under management. “We are thrilled to partner with Curt and the management team again, having worked together on a prior successful investment. The Company’s commitment to safety, quality, and service across its global footprint uniquely positions it to capitalize on growth opportunities,” said Tenno Tsai, Managing Director at H.I.G. “We look forward to supporting Time’s next phase of growth by investing in new product development, geographic expansion, and complementary acquisitions.”
Time Manufacturing Company brings a robust supply chain and a global service footprint to support infrastructure companies in telecommunications, electric utility and other essential industries around the world. The company goes to market under a global portfolio of brands that includes:
Vehicle-mounted aerial devices – Versalift, Ruthmann, Steiger, Eagle, EcoLine
Compact aerial devices – BlueLift
Fiberglass division – truck bodies, toppers, inserts, booms, buckets – BrandFX
Bridge inspection trucks – Aspen Aerials
This exciting new step for Time Manufacturing Company further strengthens its leadership position as an equipment supplier to infrastructure companies in the United States and around the world.
Media Contact: Brent Berger • 800-825-1085 • brentberger@versalift.com
Time Manufacturing Company is a global manufacturer of vehicle mounted aerial lifts, including bucket trucks, digger derricks, cable placers, truck bodies, buckets, and other specialty equipment for electric utility, telecommunications, bridge inspection, tree care and other fleet-supported industries. Through Versalift, BrandFX, Aspen Aerials, Ruthmann, Steiger, Ecoline, and Bluelift brands, the company provides equipment to co-ops, municipalities, government agencies and corporations through its global network of facilities and distributors. Time Manufacturing Company now employs more than 2000 associates worldwide.
SOURCE Time Manufacturing Company
