Aspen Aerials Inc.

Aspen Aerials Inc. specializes in the design and manufacture of bridge inspection equipment, including trucks and cranes that enhance the efficiency and safety of bridge maintenance operations for technicians and engineers. Founded in 1995 and headquartered in Duluth, US, Aspen Aerials Inc. develops innovative equipment for bridge inspections.

The company was acquired by Time Manufacturing Company, Inc. in October 2018, with financial terms undisclosed. Aspen Aerials, a Time Manufacturing Company, specializes in the design and manufacture of bridge inspection equipment, particularly bridge inspection trucks and cranes. These vehicles are engineered to facilitate efficient and safe inspections and maintenance of bridges, accommodating the needs of highly trained technicians and engineers who require specialized equipment for their hands-on work.

The company's flagship products are designed without the need for outriggers, thereby preventing potential damage to bridge decks while minimizing disruptions to vehicular and pedestrian traffic. Aspen Aerials serves a diverse clientele, including governmental agencies and private companies across North America and Europe, addressing the critical need for reliable bridge inspection solutions in these markets. Their equipment meets stringent safety and efficiency standards, enhancing the capability of inspection teams while ensuring that client-specific requirements are met through continuous feedback and innovation. Aspen Aerials generates revenue primarily through the sales of its bridge inspection equipment, which includes various models tailored to different operational needs.

The company's business model is characterized by direct sales transactions, with clients typically consisting of governmental entities and private contractors requiring reliable bridge maintenance solutions. Revenue is derived from the sale of individual units, like the Aspen A-62, as well as refurbishment services offered through the Aspen Aerials Factory Rebuild Program. Transactions are structured as direct B2B engagements, allowing clients to discuss specific requirements and negotiate terms tailored to their operational needs. Pricing details are established during the sales process based on the equipment specifications and the scope of additional services, such as refurbishment and maintenance support.

Aspen Aerials plans to utilize recent funding to expand its product line, focusing on the development of new bridge inspection equipment designed for enhanced operational flexibility. The company aims to penetrate additional markets, particularly targeting European and North American regions, by the end of 2023. The acquisition by Time Manufacturing Company, Inc. in October 2018 is anticipated to provide the necessary resources and strategic direction to support these initiatives.