News

Acquisition

Waco, TX January 06, 2021

Time Manufacturing Company, a Portfolio Company of The Sterling Group, to Acquire Ruthmann, Including Ruthmann, Steiger, Ecoline and Bluelift Brands

Time Manufacturing Company (“Time”), a portfolio company of The Sterling Group, has agreed to acquire Ruthmann, a manufacturer of aerial work platforms based in Germany. Time is a global designer, manufacturer, and distributor of aerial lifts primarily for the electric utility, telecommunications, infrastructure, and forestry sectors. Time goes to market via several brands, including the Versalift line of aerial lifts and digger derricks, the Aspen Aerials line of under-bridge inspection units, and the BrandFX line of fiberglass truck bodies.

Headquartered in Gescher-Hochmoor, Germany, Ruthmann has a long history of manufacturing high-quality, truck-mounted aerial work platforms in Europe, going to market under the brands Ruthmann, Steiger, Ecoline, and Bluelift.

The transaction is subject to regulatory clearance and is expected to close in Q1 2021.

About Time Manufacturing Company

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, bridge inspection, tree care and other fleet-supported industries. Through Versalift, BrandFX and Aspen Aerials brands, the company provides equipment to co-ops, municipalities, government agencies and corporations through its global network of facilities and distributors. Time Manufacturing Company employs more than 1,100 associates worldwide.

About The Sterling Group

Founded in 1982, The Sterling Group is a private equity and private credit investment firm that targets investments in basic manufacturing, distribution, and industrial services companies. Typical enterprise values of these companies at initial formation range from $100 million to $750 million. Sterling has sponsored the buyout of 57 platform companies and numerous add-on acquisitions for a total transaction value of over $14.0 billion. Sterling currently has over $4.0 billion of assets under management. For further information, please visit www.sterling-group.com.

Past performance is no guarantee of future results and all investments are subject to loss.

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