Time Manufacturing Company (Time) acquired Ruthmann, a European manufacturer of aerial work platforms based in Germany.
Time is a global designer, manufacturer, and distributor of aerial lifts primarily for the electric utility, telecommunications, infrastructure, and forestry sectors. Time includes 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.
Ruthmann has a long history of manufacturing truck-mounted aerial work platforms in Europe, under the brands Ruthmann, Steiger, Ecoline and Bluelift.
In a press release, Rolf Kulawik, managing director of Ruthmann, said, “This acquisition brings together two complementary work truck and high access equipment manufacturers, expanding our product offerings and better serving our customers. We look forward to partnering with the Time team to realize the many opportunities that the combination offers both employees and customers alike.”
The company plans to showcase its products at The APEX Show in the Netherlands June 15-17 and The Utility Expo in Louisville, Kentucky, September 28-30.
UPDATE on MARCH 25:
As reported earlier this year, the Ruthmann group of companies was sold to the U.S.-based Time Manufacturing Company. Time Manufacturing Company is a global manufacturer of aerial work platforms. The acquisition brings together Ruthmann and Versalift, two complementary manufacturers of work and height access equipment.
In the course of the transaction, Ruthmann GmbH & Co. KG and Ruthmann Finance GmbH & Co. KG were merged into Ruthmann Holdings GmbH by way of an accretion agreement. The transaction was entered in the commercial register on March 2 and has became legally effective.