In a press release this morning, Ruthmann parent Time Manufacturing Company announced that it has been acquired by H.I.G. Capital, a global private equity and alternative asset management company.
Time Manufacturing Company CEO Curt Howell recently stated that the acquisition by H.I.G. “strengthens the future of our company, and it enables greater opportunities for all of us as we continue to expand into new regions. With a broader global footprint, we will have more people on the ground in more places, and be able to offer more equipment and greater service capacity to more customers.”
“Our first year with Ruthmann has been a very positive experience,” said Mr. Howell. “The H.I.G. transaction will enable us to continue our strong momentum across North America, Europe and other markets around the world.”
According to the press release, “the H.I.G transaction will catalyze the company’s Global Growth Plan, which has been in place since 2017.” Since then, Time Manufacturing has experienced significant profitable growth, both domestically and internationally, including nine acquisitions and the addition of distribution hubs across Europe and in Asia.
The entire press release can be found here. https://www.prnewswire.com/news-releases/time-manufacturing-company-is-acquired-by-hig-capital-from-the-sterling-group-301437314.html