M&A Deal Summary

H.I.G. Private Equity Acquires Time Manufacturing

On December 3, 2021, private equity firm H.I.G. Private Equity acquired machinery company Time Manufacturing from The Sterling Group

Acquisition Highlights
  • This is H.I.G. Private Equity’s 4th transaction in the Machinery sector.
  • This is H.I.G. Private Equity’s 205th transaction in the United States.
  • This is H.I.G. Private Equity’s 23rd transaction in Texas.

M&A Deal Summary

Date 2021-12-03
Target Time Manufacturing
Sector Machinery
Buyer(s) H.I.G. Private Equity
Sellers(s) The Sterling Group
Deal Type Secondary Buyout

Target

Time Manufacturing

Waco, Texas, United States
Time Manufacturing is a global manufacturer of bucket trucks, digger derricks, cable placers, truck bodies, buckets, and other specialty equipment for the 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. Time Manufacturing was founded in 1965 and is based in Waco, Texas.

Search 200,500 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.


DEAL STATS #
Overall 307 of 369
Sector (Machinery) 4 of 5
Type (Secondary Buyout) 45 of 68
State (Texas) 23 of 30
Country (United States) 205 of 245
Year (2021) 34 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 Sustana

De Pere, Wisconsin, United States

Sustana is a manufacturer of premium de-inked recycled pulp from post-consumer waste. manufacturer of sustainable recycled fibers, paper, and packaging of the highest quality de-inked recycled pulp for use in the production of writing paper, tissue paper, and FDA-compliant products. Sustana was founded in 1992 and is based in De Pere, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-14 Standard Hidraulica

Barcelona, Spain

Standard Hidraulica is a manufacturer of advanced plumbing, heating and gas systems, and sanitary faucets. STH has become a reference partner in the water and gas connection and control, kitchen and bathroom taps in both residential and non-residential areas, and civil works such as water and gas distribution networks. Standard Hidraulica was founded in 1975 and is based in Barcelona, Spain.

Buy -

Seller(S) 1

SELLER

The Sterling Group

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 2.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Sterling Group is a private equity firm focused on acquiring middle-market businesses within basic manufacturing, industrial services, and distribution. Sterling looks for companies valued from $100 to $750 million with positive cash-flow, strong market positions, and potential to grow. Sterling avoids investments in financial services, real estate, healthcare, or information technology companies. The Sterling Group was formed in 1982 and is based in Houston, Texas.


DEAL STATS #
Overall 29 of 29
Sector (Machinery) 4 of 4
Type (Secondary Buyout) 15 of 15
State (Texas) 4 of 4
Country (United States) 26 of 26
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-02 L&S Mechanical

Richardson, Texas, United States

L&S Mechanical is a provider of new home construction services in the plumbing and electrical industries. L&S Mechanical serves large production homebuilders in Dallas / Fort Worth, Houston, San Antonio, and Austin through its five production warehouses. L&S Mechanical was founded in 1985 and is based in Richardson, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-02 West Star Aviation

East Alton, Illinois, United States

West Star Aviation is a provider of maintenance, repair, and overhaul (“MRO”) and related support services to the business aviation industry. All aspects of aviation maintenance and total product rebuild from propjet to large jet products. West Star Aviation was founded in 1952 and is based in East Alton, Illinois.

Buy -