Willkie represented Time Manufacturing, a portfolio company of the Sterling Group, in the acquisition of the Ruthmann Group, a manufacturer of aerial work platforms in Germany and Italy.
On February 12, Willkie client Time Manufacturing Company, a portfolio company of the Sterling Group, closed its acquisition of the Ruthmann Group, a manufacturer of aerial work platforms in Germany and Italy. The transaction was announced on January 6, 2021.
Headquartered in Gescher-Hochmoor, Germany, the Ruthmann Group has a long history of manufacturing high-quality, truckmounted aerial work platforms in Europe, going to market under the brands Ruthmann, Steiger, Ecoline, and Bluelift.
Time Manufacturing is a global designer, manufacturer, and distributor of aerial lifts primarily for the electric utility, telecommunications, infrastructure, and forestry sectors. Time Manufacturing goes to market via several brands, including the Versalift line of aerial lifts and digger derricks, the Aspen Aerials line of under-bridge inspection units, and the BrandFX line of fiberglass truck bodies.
The Sterling Group is a Houston-based, middle market private equity firm that targets controlling interests in basic manufacturing, distribution and industrial services companies.
The multi-disciplinary, cross-border Willkie deal team was led by M&A partners Bruce Herzog in Houston and Dr. Markus Lauer in Frankfurt and partners in number of areas of specialization including Hillel Jacobson, William Rooney, Dr. Patrick Meiisel, Dr. Maximilian Schwab, Dr. Kamyar Abrar and Jeffrey Clancy.