H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $49 billion of equity capital under management, is pleased to announce that its portfolio company, Time Manufacturing Holdings, LLC (“Time Manufacturing” or the “Company”), a leading, global provider of vehicle-mounted aerial lifts, has acquired France Elévateur (“FE Group”).
The pairing of the two companies, who share a mutual dedication to quality and safety, strengthens the combined platform’s global manufacturing capabilities while enhancing value to customers through a broader portfolio of complementary products and services.
Founded in 1984 and headquartered in Flavigny, France, France Elevateur is a leading manufacturer of vehicle-mounted aerial platforms for customers in various trades including public lighting, electric utility, roofing, telecommunications, rail networks, and other fields requiring access solutions. Through its two manufacturing sites in France and Spain and its footprint of 15 service facilities, France Elévateur provides quality machinery and comprehensive after-market services across Europe.
Curt Howell, Chief Executive Officer of Time Manufacturing Company commented, “The France Elévateur acquisition represents a meaningfull step forward in our global growth plan by adding more than 450 experienced professionals, a world-class regional product line, and over a dozen facilities across France, Belgium, and Spain. Leveraging our existing reach in Austria, Denmark, France, Germany, Italy, Sweden, and Switzerland, The FE Group improves our reach in the important national markets of Belgium, Netherlands, Luxembourg, Ireland, Eastern France and Spain.”
Charles Goffin, Chief Executive Officer 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 Elévateur is a highly complementary addition that brings further diversification to Time Manufacturing’s suite of aerial lifts, and strengthens the Company’s global leadership position,” said Tenno Tsai, Head of North American Industrials at H.I.G. Klaas Reineke, Managing Director at H.I.G., added, “We are thrilled to continue supporting management and the Company in their efforts to enhance our European operations, particularly in the utility and telecommunications end markets.”