Heil Environmental sells truck equipment business
Sep 1, 2006 12:00 PM
Heil Environmental has sold its truck equipment business, consisting of the Heil Truck Equipment Group and Heil South distributorship, to Truck Bodies and Equipment International Inc (TBEI), a portfolio company of Kirtland Capital Partners. Terms of the sale were not disclosed.
The sale enables Heil to concentrate all of its resources on continuing to build its core refuse business. Based in Chattanooga TN, Heil manufactures refuse collection and recycling vehicles at its flagship manufacturing facility in Fort Payne AL. Parts Central, a Heil company, offers replacement parts for most refuse and recycling vehicle brands. Heil subsidiary Bayne Premium Lift Systems produces hydraulic refuse cart lifters in Greenville SC. Heil Europe manufactures refuse collection vehicles and replacement parts for the European market in Hillend, Scotland.
Heil Truck Equipment Group manufactures and mounts a line of dump bodies, snow/ice bodies, and hoists at its plant in Tishomingo MS. Heil South is a company-owned truck equipment distributorship in Austell GA.
The sale includes Heil's 204,000-square-foot manufacturing facility in Tishomingo, the Heil South sales and service facility outside Atlanta GA, and use of certain intellectual property.
Heil Truck Equipment Group and Heil South are now part of TBEI. Kirtland formed TBEI in 2005 by combining three truck equipment companies — Crysteel Manufacturing, Ox Bodies, and Rugby Mfg — and adding Hardee Equipment Co in 2006. TBEI's headquarters is in Eden Prairie MN.
TBEI has indicated that it will keep the manufacturing facility in Tishomingo open with its 140-person workforce intact. Under the sales agreement, all existing orders will be filled, current vehicles will be supported, and warranties now in effect will be honored. The truck equipment distributor network and sales force is expected to remain unchanged. Heil South will be renamed TBEI Atlanta.
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