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October 2006

 

Heil Environmental sells its truck equipment business
Sale will allow company to concentrate on serving refuse and recycling industry

Truck Bodies and Equipment International, Inc. a portfolio company of Kirtland Capital Partners, has acquired Heil Environmental’s truck equipment business, consisting of the Heil Truck Equipment Group and Heil South distributorship, effective August, 2006.

The sale will enable Heil to concentrate all of its resources on building its core refuse business.

The Heil Truck Equipment Group manufactures and mounts a complete line of dump bodies, snow/ice bodies and hoists.

Michael Jobe, Heil president and CEO stated, “After careful study, the Heil management team determined that we could best serve all of our customers by selling our truck equipment division and associated sales branch to a company that is exclusively focused on that market and its customers. This move allows us to likewise concentrate solely on the refuse customers that are the core of our business.”

The sale includes Heil’s 204,000-square-foot manufacturing facility in Tishomingo, the Heil South sales and service facility outside of Atlanta, and the use of certain intellectual property.

The Heil Truck Equipment Group and Heil South are now part of Truck Bodies & Equipment International, Inc. (TBEI). Kirtland formed TBEI in 2005 by combining three major truck equipment companies: Crysteel Manufacturing, Ox Bodies, Rugby Manufacturing, adding Hardee Equipment Co. in 2006. TBEI’s corporate headquarters is in Eden Prairie, Minnesota.

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. TBEI has expressed plans to retain the distributorship’s 16 employees and continue to offer truck equipment products and services. The refuse collection vehicle sales force and other aspects for supporting customers of the refuse business will be moved from the TBEI Atlanta facility, and Heil intends to further increase its focus and efforts to continue growing its customer base in the Georgia refuse markets.

Terms of the sale were not disclosed.


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