December 3, 2021
Willkie advised The Sterling Group and portfolio company Time Manufacturing in the transaction.
On December 3, The Sterling Group announced that it completed the sale of Time Manufacturing Holdings LLC, a global manufacturer of vehicle mounted aerial lifts, to H.I.G. Capital.
The Sterling Group acquired Time Manufacturing in 2017 and grew the company significantly. Through a series of nine acquisitions, the company entered new end markets, expanded its presence in Europe and enhanced its aftermarket service capabilities.
Headquartered in Waco, Texas, Time Manufacturing is a global designer, manufacturer and distributor of vehicle-mounted aerial lifts for electric utility, telecommunications, infrastructure and forestry end markets. It operates nine manufacturing facilities and 30 distribution and service facilities globally.
The Sterling Group, based in Houston, Texas, is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies.
H.I.G. is a leading global alternative assets investment firm with over $45 billion of equity capital under management.
The Willkie team was led by partners Bruce Herzog and Dvir Oren, and included partner Markus Lauer and associates Ashley Whittington, Ian Morganelli, Brannock Furey and Brandon Schumacher.
