NEW YORK–(BUSINESS WIRE)–HIG Capital (“HIG”), a leading global alternative investment firm with over $49 billion in equity under management, is pleased to announce that its holding company, Time Manufacturing Holdings, LLC (“Time Manufacturing” or the “Company”), one of the world’s leading suppliers of vehicle-mounted aerial work platforms, has acquired France Elévateur (“FE Group”).
The combination of the two companies, who share a mutual commitment to quality and safety, strengthens the global manufacturing capabilities of the combined platform while enhancing value for customers through a broader portfolio of complementary products and services. .
Founded in 1984 and based in Flavigny, France, France Elévateur is a leading manufacturer of vehicle-mounted aerial platforms for customers in a variety of trades, including street lighting, electrical utilities, roofing, telecommunications, rail networks and other areas requiring access solutions. Thanks to its two manufacturing sites in France and Spain and its 15 service centers, France Elevateur provides quality machines and comprehensive after-sales services throughout Europe.
Curt Howell, CEO of Time Manufacturing Company, said, “The acquisition of France Elévateur represents a significant step forward in our global growth plan by adding more than 450 experienced professionals, a world-class regional product line and more than dozen installations across France. , Belgium and Spain. Building on our existing reach in Austria, Denmark, France, Germany, Italy, Sweden and Switzerland, The FE Group is enhancing our reach in the important national markets of Belgium, the Netherlands, Luxembourg, Ireland, eastern France and Spain.
Charles Goffin, Managing Director of France Elévateur, added: “Together, Time Manufacturing and France Elévateur can leverage their combined portfolio of vehicle-mounted access products to bring additional solutions to all customers.
“France Elevateur is a highly complementary addition that brings further diversification to Time Manufacturing’s line of aerial work platforms and reinforces the company’s global leadership position,” said Tenno Tsai, Head of North American Industries at HIG Klaas Reineke, Managing Director at HIG, added, “We are delighted to continue to support management and society in their efforts to improve our European operations, particularly in the utilities and telecommunications end markets.”
About Time Manufacturing Company
Time Manufacturing Company is a global manufacturer of bucket trucks, excavator derricks, cable layers, truck bodies, buckets and other specialty equipment for power utilities, telecommunications infrastructure, inspection bridges, tree maintenance and other industries supported by fleets. Selling through the Versalift, BrandFX, Aspen Aerials, Ruthmann, Steiger, Ecoline and Bluelift brands, the company employs more than 2,000 associates worldwide. For more information, visit https://timemfg.com.
About France Elevator
France Elevateur is a leading manufacturer of on-board aerial work platforms for customers in various trades such as street lighting, power lines, roofing, telecommunications networks, rail networks, equipment rental and others areas requiring access solutions. Thanks to its two manufacturing sites in France and Spain and its 15 service sites, France Elevateur provides quality machines and after-sales services throughout Europe. For more information, visit https://france-elevateur.fr.
About HIG Capital
HIG is one of the world’s leading alternative asset investment firms with over $49 billion in equity under management. * Based in Miami 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, HIG specializes in providing debt and equity capital to small and medium enterprises, using a flexible and operational value-driven system. – added approach:
HIG’s equity funds invest in management buyouts, recapitalizations and spin-offs of profitable and underperforming manufacturing and service companies.
HIG’s debt funds invest in senior, unitranche and junior debt financing of companies of all sizes, both on a primary (direct origination) basis and in the secondary markets. HIG is also a leading CLO manager, through its WhiteHorse family of vehicles, and operates a publicly traded BDC, WhiteHorse Finance.
HIG’s real estate funds invest in value-added properties, which can benefit from better asset management practices.
HIG Infrastructure is focused on making value-added and more grassroots investments in the infrastructure sector.
Since its inception in 1993, HIG has invested in and managed over 300 companies worldwide. The company’s current portfolio includes more than 100 companies with combined sales exceeding $30 billion. For more information, please visit the HIG website at www.highcapital.com.
* Based on total capital commitments managed by HIG Capital and its subsidiaries.