Truck Bodies and Equipment International (TBEI) is a maker of dump truck bodies, dump trailers, other specialty bodies, hoists, parts and accessories that are used in the construction, municipal, landscape, demolition, agricultural, infrastructure and defense end markets. The company sells its products under five brand names – Crysteel, Rugby, DuraClass, J-Craft and Ox Bodies – through a network of 500+ distributors and dealers. TBEI has four manufacturing and installation facilities in Minnesota, Alabama, Mississippi, and North Dakota with the company headquarters located southwest of Minneapolis in Mankato, MN (www.tbei.com).
“As we enter our next phase of growth, we are excited to partner with GenNx360. The firm’s experience in managing and growing companies, its industry relationships and operational expertise will help us in our continued growth efforts and operational excellence,” said Bob Fines, the President and CEO of TBEI.
The acquisition of TBEI was led by GenNx360 Founder and Managing Partner Ron Blaylock. “GenNx360 believes that strong industry fundamentals, driven by residential and commercial construction and increased municipal infrastructure spending, provide attractive growth prospects for TBEI’s industry leading brands,” he said. “The company is ideally positioned as an acquisition platform in a regionally focused and fragmented market.”
GenNx360 is focused on investing in industrial business-to-business companies in the middle market. Sectors of interest include industrial machinery and components, industrial services, oil and gas, logistics and supply chain services, agricultural, specialty chemicals, and aerospace. GenNx360 was founded in 2006 and is headquartered in New York with an additional office in Boston (www.gennx360.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 10-2-15