Publicado el 25/Marzo/2019
Alta Growth Capital announced that it completed the sale of Fruehauf, the leading trailer manufacturer in Mexico, to Fultra, a highly recognized Mexican conglomerate focused on the heavy-duty truck industry. This is Alta’s first exit from its second fund which helps capture a portion of the superior returns it is generating for its investors.
Fruehauf was founded in 1918 in Detroit after August Fruehauf, an Automotive Hall of Fame Inductee, created the semi-trailer and launched a new industry. Until 1997, Fruehauf was the leading semi-trailer manufacturer worldwide. Alta acquired Fruehauf in 2015.
“Together with the management team, we were able to surpass our goals for this investment,” said Alta Partner Javier García-Teruel. “Fruehauf saw a considerable expansion of its customer base, entered key markets, and generated significant cost efficiencies. Today, Fruehauf’s products are leaders in quality and customer satisfaction.”
During Alta’s investment, Fruehauf sales and EBITDA more than doubled and the 53’ dry van was relaunched and successfully positioned in the market. Fruehauf is today the leading semi-trailer manufacturer in Mexico and has successfully re-entered the U.S. market after 20 years of absence.
“It has been an honor to bring the Fruehauf brand back to the U.S., and to be a part of the amazing legacy that August Fruehauf started,” said Alta Partner Scott McDonough. “We are certain that Fultra will continue to support and grow the company and ensure that Fruehauf remains a leader in the semi-trailer industry.”
During its ownership, Alta brought in CEO Carlos Porragas to lead Fruehauf. Mr. Porragas was effective in transforming the company given his extensive senior leadership experience in related industries and track record of generating value. Together with Alta, Mr. Porragas reinforced key positions within the management team and revamped the company’s commercial strategy.
“It has been a pleasure being at the forefront with Alta in this great success,” said Mr. Porragas. “Together, we have pushed Fruehauf forward to a leading position in the Mexican trailer market. I look forward to continuing this success story under Fultra’s ownership”.
“Alta is definitely a best in class growth fund in the region that applied the right strategy and resources to successfully expand Fruehauf’s potential,” said Jorge Martinez, CEO of Fultra. “We are committed to continuing this legacy of success for years to come.”
About Alta Growth Capital Alta Growth Capital, based in Mexico City, manages private equity funds focused on growth equity and buyouts in middle-market companies in Mexico and Latin America. Since its founding in 2007, Alta has invested over US$300 million in more than 15 companies.
About Fruehauf Fruehauf is a leading manufacturer of semi-trailers for industrial and commercial use in Mexico and the U.S. offering a wide variety of products within the industry. It is the last remaining operation in North America of the original Fruehauf Trailer Corporation that was founded more than 100 years ago by August Fruehauf who was the inventor of the semitrailer. For many decades, Fruehauf was by far the global leader in the industry and continues to be well-known with a reputation for high quality. With approximately 240 employees, Fruehauf operates a 65,000 m2 facility enabling the manufacture of industry leading products with short delivery times. Fruehauf offers fully customized trailers to its national and international clients. Fruehauf’s main products are dry vans, flatbeds, dollies, tanks, dumps, and chassis.
About Fultra Fultra, is a business group based in Monterrey, Mexico focused on the heavy duty transportation sector with a portfolio of leading companies that include: Sierra Norte; Truckmax, an international truck and bus distributor; Idealease, a seller of used trucks, trailers and buses; Amparts, a provider of leasing and rental of commercial vehicles; Promare, a truck and trailer parts distributor in south Texas; and other operations of truck and trailer parts distribution in Mexico, with 36 locations and 1,200 employees.
For more information, please visit www.agcmexico.com or contact:
Scott McDonough Managing Director Alta Growth Capital +52 (55) 5254-3280 email@example.com