The sale of the Ruthmann Group to the US Time Manufacturing Company was successfully completed. In this context, a restructuring of the Ruthmann group of companies also took place.
As already reported in mid-February, the Ruthmann group of companies was sold to the US-based Time Manufacturing Company. Time Manufacturing Company is a global manufacturer of aerial work platforms, which are primarily used in the energy supply, telecommunications, infrastructure and forestry sectors. The acquisition brings together Ruthmann and Versalift, two complementary manufacturers of work and height access equipment. Thanks to the expanded product range, the customers of both companies can be served even better. It also provides an opportunity to present the Ruthmann brands to a wider global audience.
In the course of this transaction, Ruthmann GmbH & Co. KG and Ruthmann Finance GmbH & Co. KG were merged into Ruthmann Holdings GmbH by way of an accretion agreement. The transaction was entered in the commercial register on 2 March 2021 and thus became legally effective. As a result of the accretion within the meaning of Section 738 of the German Civil Code, the ownership under civil law of the assets of Ruthmann GmbH & Co. KG and Ruthmann Finance GmbH & Co. KG passed to Ruthmann Holdings GmbH by way of universal succession.