Deal Details

Time Manufacturing Sold to H.I.G.

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Summary

About

Time Manufacturing Company is a global manufacturer of bucket trucks, digger derricks, cable placers, truck bodies, buckets and other specialty equipment for electric utility, telecommunications infrastructure, bridge inspection, tree care and other fleet-supported industries. Selling via the Versalift, BrandFX, Aspen Aerials, Ruthmann, Steiger, Ecoline and Bluelift brands, the Company employs more than 2,000 associates worldwide. Time is headquartered in Waco, Texas.

Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Sterling has sponsored the buyout of 61 platform companies and numerous add-on acquisitions for a total transaction value of over $14.0 billion. Sterling recently closed its fifth investment fund with $2.0 billion in commitments and currently has over $5.7 billion of assets under management. Sterling is headquartered in Houston, Texas.

H.I.G. is a leading global private equity and alternative assets investment firm with over $45 billion of equity capital under management. Based in Miami, Florida and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the United States, as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused / value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. H.I.G.’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion.

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