Elaïs Orium, Capital Export and Argos Wityu have sold France Elévateur to Time Manufacturing Company, a portfolio company of H.I.G. Capital
France Elévateur
Founded in 1984 and headquartered in Flavigny-sur-Moselle, France, France Elévateur is a leading European manufacturer of a range of vehicle-mounted aerial platforms for customers in various trades including public lighting, electric utility, roofing, telecommunications, rail networks and other fields requiring access solutions. The company operates two manufacturing sites in France and Spain and a key proprietary network of 15 service facilities.
The Deal
France Elévateur management, supported by its lead financial investor, Elaïs Orium, put the company on a solid profitable growth path, which is founded on constant product innovation, operating excellence and international expansion.
France Elévateur has been acquired by Time Manufacturing Company, a United States-based competitor which is a portfolio company of H.I.G. Capital. Time Manufacturing operates in Europe through its Versalift and Ruthmann brands and the acquisition of France Elévateur will strongly enhance Time Manufacturing’s European operations, particularly in the utility and telecom end markets.
Our Perspective
Guillaume Suizdak, Managing Director in Lincoln’s Paris office, commented, “We are thrilled to have advised France Elévateur’s shareholders and its management team, led by Chief Executive Officer Charles Goffin, on this cross-border sector consolidation transaction. France Elévateur has built an incredibly strong business and holds a leadership position in Europe, which is highly complementary to Time Manufacturing’s suite of aerial lifts. We look forward to seeing the continued success of Time Manufacturing — its global leadership position is materially strengthened by France Elévateur’s acquisition, under H.I.G.’s stewardship.”
We were impressed with Lincoln’s sector expertise, bringing unique international buyer access and insight, which, combined with its thorough command of the financial investor universe, delivered a competitive dual-track sale process. Lincoln’s dedication to quality service and process momentum was instrumental in this successful divestment for France Elévateur’s shareholders.
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