Private equity company Sterling Group has acquired Time Manufacturing Company from O’Flaherty Holdings.
Headquartered in Texas, US, vehicle mount manufacturer Time, also a distributor primarily for the telecom and electric utility markets, includes the Versalift brand. The business had been owned by the O’Flaherty family for more than 40 years.
“Sterling is the right partner for Time as we continue to pursue the significant growth opportunities that exist for the company today,” said Charles Wiley, CEO of Time. “The Time team is excited to partner with Sterling, and together we expect continued success in this next phase of our company’s history.”
The Sterling Group targets interests in manufacturing, distribution and industrial services companies and has been involved in the buyout of over 50 platform companies, plus add-on acquisitions amounting to US$10 billion
“The team at Time has built the company into an industry leader that provides outstanding products and services to its customers, and we look forward to further supporting their future growth,” said Kent Wallace, a partner at The Sterling Group.