Additional growth potential by joining forces with US market player
Despite Corona: DZ BANK successfully conducts international bidding process
DZ BANK Corporate Finance / M&A advises RUTHMANN shareholders on sale to US-based TIME Manufacturing Company
The long-established company RUTHMANN, headquartered in Gescher-Hochmoor in the Münsterland region with 120 years of company history, is a manufacturer of truck-mounted aerial work platforms as well as self-propelled tracked work platforms, and a European market and technology leader. The innovative height access solutions are sold internationally under the STEIGER®, ECOLINE and BLUELIFT brands and stand for unrivaled performance data and safety as well as for an entire work platform category. Thus, for many users, the RUTHMANN brand STEIGER® is synonymous with the product aerial work platform in general. The highest quality standards and the comprehensive service network ensure maximum machine availability for customers and users from a wide range of industries. With its subsidiaries in Italy, Austria, Switzerland and the USA, RUTHMANN employs more than 500 people worldwide. In the DACH region, RUTHMANN has also been distributing TIME Manufacturing Company's VERSALIFT® aerial work platforms already prior to this transaction.
TIME Manufacturing Company is a manufacturer of mobile equipment for electric utilities, telecommunications, bridge inspection, tree care and other fleet-based industries. With its VERSALIFT®, BrandFX and Aspen Aerials brands, the company serves customers through its global network of subsidiaries and distributors. TIME Manufacturing Company employs more than 1,100 people worldwide and is a portfolio company of U.S. financial investor The Sterling Group.
With the support of DZ BANK Corporate Finance / M&A, we were able to successfully implement the transaction professionally and with strict confidentiality. For the challenges that arose in the ongoing transaction process, the project team always developed tailored solutions in constant dialogue with us.
The tireless work of the project team made a decisive contribution to the success of the transaction and also significantly relieved the RUTHMANN management as well as us shareholders. My entrepreneurial and personal goals were fully achieved with the help of DZ BANK Corporate Finance / M&A despite the high level of uncertainty associated with the Corona pandemic.