GenNx360 Capital Partners has made an undisclosed investment in Truck Bodies and Equipment International Inc. Based in Minnesota, TBEI is a maker of dump truck bodies, dump trailers, hoists, parts and accessories.
NEW YORK, Oct. 1, 2015 /PRNewswire/ — GenNx360 Capital Partners, a New York-based private equity firm investing in middle market companies, today announced its investment in Truck Bodies and Equipment International Inc. (“TBEI” or the “Company”). TBEI is a manufacturer of dump truck bodies, dump trailers, other specialty bodies, hoists, parts and accessories. It serves the Class 3 – 8 vocational truck market across a diverse set of applications in the construction, municipal, landscape, demolition, agricultural, infrastructure and defense end markets. TBEI operates four strategically located manufacturing and installation facilities in Minnesota, Alabama, Mississippi, and North Dakota with additional support from a national network of third party warehouses.
The transaction represents the fifth platform investment for GenNx360’s Fund II. Terms of the transaction were not disclosed.
“As we enter our next phase of growth, we are extremely excited to partner with GenNx360. GenNx360’s significant experience in managing and growing companies, its industry relationships and deep operational expertise will help us immensely in our continued growth efforts and operational excellence,” said Bob Fines, President and CEO, TBEI.
Ron Blaylock, the GenNx360 Founder and Managing Partner who led the transaction said, “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. TBEI is ideally positioned as an acquisition platform in a regionally focused and fragmented market.”
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on investing in industrial manufacturing and business services companies in the middle market. It applies years of Fortune 50 operational and leadership experience to these investments to help drive growth and value creation. The firm primarily focuses on opportunities in the industrial machinery and components, industrial services, oil and gas, logistics and supply chain solutions, agricultural, specialty chemicals, and aerospace sectors. GenNx360 was founded in 2006 and is headquartered in New York City. For more information about GenNx360, please visit: www.gennx360.com
About Truck Bodies and Equipment International Inc.
Truck Bodies & Equipment International Inc. is a Minnesota-based corporation that manufactures dump bodies, landscape bodies, grain bodies, platforms, hoists, and truck and trailer equipment and accessories. TBEI is an industry-leading company driven by a strong management team. It operates with five major brands with 500+ distributors and dealers, across North America. For more information about TBEI, please visit: www.tbei.com