ABM Equipment & Supply of Hopkins, Minn., reported May 20 that Heartland Equity Partners has acquired a majority interest in the company, in partnership with the company’s management. ABM Equipment was established in 1980 and distributes and manufactures specialized truck equipment in the upper Midwest. Terms of the deal were not disclosed.
“The entire team at ABM is excited about Heartland’s investment in our company’s future. Our new partners at Heartland are focused on our growth and long-term success,” said Ron Zimmer, who will continue as president of ABM Equipment. “The investment sets the stage for further expansion in product offerings, service capabilities, and customer/supplier support, which creates exciting opportunities for our employees, customers and suppliers.”
ABM’s line of truck-mounted equipment includes aerial lifts, digger derricks, cranes, service bodies, hook lifts, sewer vacs and garbage packers primarily serving the utility, construction, municipal, refuse and tree care industries. The company has retained its existing management team, and all 42 current employees will stay on.
Based in Brooklyn Center, Minn., Heartland Equity Partners invests in manufacturing, value-added distribution, and business services companies that demonstrate stability and profitable growth.