Middle-market private equity firm American Industrial Partners has completed the purchase of Heil Trailer International from Dover Corporation. Heil Trailer is a global provider of engineered tank and specialty trailers for a diverse range of end markets including oil and gas and infrastructure.
Heil Trailer was founded in Wisconsin in 1901 and is headquartered in Athens, TN. The Company is a global enterprise with three manufacturing facilities located 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, the Company has appointed Randall Swift as its CEO. Prior to joining Heil Trailer, Swift was CEO of Allied Specialty Vehicles, Inc. (ASV), a USD1 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 of the Board. 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.
"AIP is very excited about the purchase of Heil Trailer," says Danny Davis of American Industrial Partners. "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."
