American Industrial Takes Control of Heil Trailer International

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Description

Acquired engineered tank and specialty trailers provider, with manufacturing facilities in the U.S, Thailand & Argentina.

New York-based middle-market private-equity group American Industrial Partners has acquired Athens, Tenn.-based Heil Trailer International from Dover Corp., Downers Grove, Ill., (NYSE: DOV) for an undisclosed price.

Heil Trailer provides engineered tank and specialty trailers for a diverse range of end markets including oil and gas and infrastructure. The company is a global enterprise with three manufacturing facilities in North America and facilities in both Thailand and Argentina which address the growing emerging markets of Asia and Latin America. The company's products include liquid, dry-bulk and specialty trailers.

Concurrent with the transaction close, American Industrial appointed Randall Swift as its chief executive. Prior to joining Heil Trailer, Swift was CEO of Allied Specialty Vehicles Inc., a $1-billion sales manufacturer of a diverse range of specially vehicles including ambulances, terminal trucks, fire trucks, school buses, and motorized RV's, among other products. ASV is a portfolio company of American Industrial Partners.

In addition, Bob Foster has re-joined Heil Trailer as its chairman. Foster was president of Heil Trailer for 15 years prior to his retirement in 2006 where he successfully led a number of growth initiatives which more than doubled the size of Heil Trailer and globally diversified the company.

American Industrial Partners associate Danny Davis says, “The company's brand is one of the most respected in the industry and it is well positioned for growth both in North America as well as globally. We believe that AIP will be a value-added partner for the company going forward."

Swift says, “Heil Trailer is one of the longstanding leaders in the marketplace due in large part to the talents of its people. I look forward to working with each of them to grow and enhance Heil Trailer's leadership position."

Foster says, “I look forward to continuing to focus the company on the fundamental elements of what built Heil Trailer into the business it is today—taking care of our customers and manufacturing the highest quality products in the industry. I am very pleased to be once again part of an independent Heil Trailer."