Case Study

Truck Bodies & Equipment International

TBEI is North America's leading manufacturer and installer of dump bodies, trailers, hoists, and related equipment.

Lake Crystal, MN
Fund II
Company Website
Refinanced in 2017
Monetized in 2017

How GenNx360 partnered with the Company

Doubled addressable market
Doubled addressable market

Completed strategic acquisition of Travis Trailers

Increased profitability
Increased profitability

Drove variable cost productivity. Increased margins by 10%

Product portfolio management
Product portfolio management

Completed comprehensive portfolio review. Added capabilities, strategically raised prices

Disciplined inventory management
Disciplined inventory management

Hired COO, implemented rigorous operations management, reducing lead times, and improving inventory turns

Diversified End Markets
Doubled addressable market
Drove variable cost productivity and increased margins by 10%
#1 and #2 market share in product categories
Built nationwide network of 500+ dealers and distributors
Completed sale of TBEI to Federal Signal (NYSE: FSS) in 2017
Transaction Sourcing
  • Identified market trends and proactively approached market participants
  • While in proprietary process, TBEI was introduced to GenNx in auction process
  • Transitioned to TBEI based on depth of team and quality of product offering
Investment Highlights
  • Experienced team with deep roots in the sector
  • Diversified end markets, customer base, and material capability
  • Integrated platform focused on innovation and operational excellence
  • Strategically located facilities with available capacity
  • Poised to accelerate initial market entry in dump trailers (a $550+ million market)
Key Initiatives Under GenNx Ownership
  • Completed Travis Trailers acquisition, doubling the market
  • Implemented strategic price increases
  • Drove 50% lead time reductions from 14 weeks to 7 weeks
  • Improved margins by driving variable cost productivity
  • Increased inventory turns from 7x to 12x
  • Completed the sale of TBEI to Federal Signal (NYSE: FSS) in 2017
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