A team of Gleiss Lutz lawyers has advised the shareholders in connection with the sale of RUTHMANN Group to TIME Manufacturing Company. The transaction is subject to approval by the authorities and will likely be concluded in the first quarter of 2021.
RUTHMANN is a leading manufacturer of aerial working platforms (primarily truck-mounted aerial working platforms and spider platforms), known under the brand names “Ruthmann”, “Steiger, “Ecoline” and “Bluelift”. Headquartered in Gescher, North Rhine-Westphalia, the company employs more than 450 staff at various locations in Germany and abroad. It also offers maintenance and repair services for aerial working platforms at its 11 service stations in Germany, Italy, Austria and Switzerland.
TIME Manufacturing Company, headquartered in Waco, Texas (United States of America), produces and distributes vehicle-mounted aerial lifts under the brands “Versalift” and “Aspen Aerials”. It employs more than 1,100 staff at its production and service locations in the U.S. and Europe. TIME is owned by Sterling Group, a private equity investor from Houston, Texas, managing own funds of more than USD 4 billion.
The following team of Gleiss Lutz lawyers advised on the transaction: Dr. Thomas Menke (partner, M&A, lead), Dr. Martin Raible (Competition/Antitrust), Dr. Jacob von Andreae (partner, Public Law, all Düsseldorf), Dr. Johann Wagner (Tax, Hamburg) Dr. Alexander Molle (partner, IP/IT, Berlin), Dr. Reimund Marc von der Höh, Dr. Fabian Mumme, Friedrich Baumgärtel, Julian Jantze (all M&A), Antonia Harbusch (Competition/Antitrust), Mara Kerstan-Klie (Employment), Aylin Hoffs (Public Law, all Düsseldorf), Dr. Thomas Bücheler (Tax, Hamburg), Jan Felix Hinrichs (IP/IT; Berlin).