The earth moving equipment industry in the US revolves around machinery used for construction, mining, and landscaping. Companies in this sector manufacture a variety of heavy equipment, including excavators, bulldozers, and loaders, which are essential for large-scale projects. The industry is experiencing growth driven by urbanization and infrastructure development, alongside advancements in technology that enhance machine efficiency and safety. Innovations like automation and telematics are shaping the future, aiming for smarter operations and better resource management. As eco-conscious practices gain traction, there’s also a push for more sustainable equipment options, paving a path for change.


Our list features a mix of corporate entities and private equity investors prominently located across the United States. These 17 investors vary in size, from small firms focusing on niche markets to large corporations with thousands of employees. Each investor, founded between 1899 and 2005, reflects a commitment to the earth moving equipment sector, highlighted by their significant number of acquisitions in 2024. With investments ranging from technological innovations to traditional earth moving machinery, these investors are driving the industry's advancement and profitability.


Top 17 Earth Moving Equipment Investors in the US


1. Alamo Group Inc.

  • Website: alamo-group.com
  • Type: Corporate
  • Headquarters: Seguin, Texas, United States (USA)
  • Founded year: 1969
  • Headcount: 1001-5000
  • LinkedIn: alamo-group

Alamo Group Inc. is a corporate investor based in Seguin, Texas, founded in 1969. The company specializes in manufacturing industrial and vegetation management equipment, providing a diverse range of products including mowers, sweepers, and vacuum trucks. Alamo Group has made several strategic acquisitions that enhance its footprint in the earth moving equipment sector. Notable transactions include the acquisition of Gradall Industries in 2006, which is recognized for its excavators, and Henke Manufacturing Corp. in 2007, known for its snow removal and earth moving equipment. In 2011, they acquired Tenco Group, further expanding their capabilities in the industry. Additionally, the acquisition of Bush Hog LLC in 2009, a company that produces rotary cutters and other agricultural equipment, also contributes to their relevance in earth moving applications. These transactions demonstrate Alamo Group's commitment to the earth moving equipment market, making them a significant player in this industry.


2. Y Combinator

  • Website: ycombinator.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2005
  • Headcount: 51-200
  • Number of deals in 2024: 802
  • LinkedIn: y-combinator

Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It specializes in providing funding and mentorship to early-stage technology companies, having successfully launched over 4,000 startups. Among its diverse portfolio, Y Combinator has made notable investments in the earth moving equipment sector, particularly through its involvement with EquipmentShare. This company raised funds in several rounds, including a Seed Round in 2015, a Series B round in 2017 where Y Combinator participated alongside other investors, and another undisclosed amount in a Series B round in 2020. EquipmentShare focuses on innovative solutions for the construction and equipment rental industry, including telematics and a peer-to-peer marketplace, showcasing Y Combinator's engagement in the earth moving equipment space.


3. Northstar Capital

  • Website: northstarcapital.com
  • Type: Private Equity
  • Headquarters: Minneapolis, Minnesota, United States (USA)
  • Founded year: 1993
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: northstar-capital

Northstar Capital is an investment management firm based in Minneapolis, Minnesota, specializing in junior capital investments and equity co-investments for lower middle market companies. Founded in 1993, the firm has raised nearly $2 billion in capital and is known for providing tailored financing solutions to financial sponsors, business owners, and management teams across diverse industries, including healthcare and consumer goods. Notably, Northstar Capital has made significant investments in the earth moving equipment sector, including transactions with IronCraft, which raised funds in both debt financing and private equity rounds in 2022, and Union Tractor, which received private equity funding in 2011. Additionally, their investment in Columbus Hydraulics further demonstrates their engagement with companies that may supply components or services relevant to the earth moving equipment industry. This diverse portfolio highlights Northstar Capital's commitment to long-term partnerships and their strategic interest in the earth moving equipment market.


4. Kkr

  • Website: kkr.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1976
  • Headcount: 1001-5000
  • Number of deals in 2024: 74
  • LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR provides asset management solutions to both institutional investors and individual clients, helping them navigate complex investment landscapes to achieve strong financial returns. Among their notable transactions, KKR has acquired companies relevant to the earth moving equipment industry, including LS Mtron, a manufacturer of construction machinery, and GeoStabilization International, which provides geotechnical maintenance services. These acquisitions highlight KKR's strategic interest in sectors that involve earth moving and construction, further solidifying their position as a significant player in this market.


5. The Timken Company

  • Website: timken.com
  • Type: Corporate
  • Headquarters: North, Ohio, United States (USA)
  • Founded year: 1899
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: the-timken-company

The Timken Company is a corporate investor based in North Ohio, USA, specializing in engineered bearings and power transmission products. Founded in 1899, Timken serves a variety of industries, including automotive, aerospace, and industrial sectors, by providing solutions that enhance machinery performance and reliability. The company has made several strategic acquisitions to bolster its capabilities in power transmission and related fields. Notable transactions include the acquisition of Philadelphia Gear, a leader in gear-drive systems for industrial applications, which enhances Timken's offerings relevant to earth moving equipment. Other acquisitions, such as PT Tech, Inc. and Cone Drive, further expand their portfolio in precision drives and power transmission, aligning with the needs of the earth moving equipment sector. Through these investments, Timken leverages its engineering expertise to address customer needs in friction management and materials science, making it a significant player in the machinery components market.


6. Hexagon Asset Lifecycle Intelligence


Hexagon Asset Lifecycle Intelligence, a corporate investor based in Madison, Alabama, is a subsidiary of Hexagon AB, a technology company founded in 1992. Hexagon specializes in industrial technology and software solutions, focusing on precision sensors and geospatial tools that enhance decision-making and operational efficiency across various sectors, including construction and mining. In recent years, Hexagon has made significant acquisitions that bolster its presence in the construction and earth moving equipment markets. Notably, they acquired Xwatch Safety Solutions in April 2024, which develops safety solutions specifically for construction environments, indicating a commitment to improving safety in sectors that utilize earth moving equipment. Additionally, their acquisition of HLS Hard-Line Solutions in July 2023, a supplier of remote control technology for mining, further emphasizes their involvement in industries that rely heavily on earth moving machinery. These strategic moves highlight Hexagon's focus on integrating advanced technology into sectors where earth moving equipment plays a crucial role.


7. Platinum Equity

  • Website: platinumequity.com
  • Type: Private Equity
  • Headquarters: Beverly Hills, California, United States (USA)
  • Founded year: 1995
  • Headcount: 201-500
  • Number of deals in 2024: 20
  • LinkedIn: platinum-equity

Platinum Equity is a private equity firm based in Beverly Hills, California, specializing in mergers, acquisitions, and operations management. Founded in 1995, the firm focuses on investing in established companies across various industries, providing them with capital and operational expertise to enhance their growth and profitability. With a portfolio of approximately 50 companies and managing over $48 billion in assets, Platinum Equity operates globally. Notable transactions relevant to the earth moving equipment context include the acquisition of Volvo Rents, which is involved in equipment rental, and NESCO Specialty Rentals, which provides equipment and services for construction and other industries. Additionally, their acquisition of Grupo Terratest, a ground engineering firm, highlights their strategic interest in sectors that utilize earth moving equipment, further solidifying their relevance in this industry.


8. Apollo Global Management, Inc.

  • Website: apollo.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1990
  • Headcount: 1001-5000
  • Number of deals in 2024: 46
  • LinkedIn: apollo-global-management-inc

Apollo Global Management, Inc. is an asset management firm based in New York, specializing in alternative assets and retirement solutions. Founded in 1990, the firm manages a diverse portfolio across credit, private equity, and real assets, catering to institutional investors, corporations, and individual clients. Notably, Apollo has made significant strides in the earth moving equipment context through its acquisitions of Maxim Crane Works and AmQuip Crane Rental in 2016, aiming to create a leading lifting solutions provider with a fleet of over 1,950 cranes across North America. These strategic acquisitions highlight Apollo's commitment to enhancing its capabilities in the equipment rental industry, which is integral to earth moving operations. Additionally, their investment in Ryson International Inc. further demonstrates their focus on expanding their market share in related sectors.


9. American Industrial Partners


American Industrial Partners is a private equity firm based in New York, specializing in operationally-oriented investments in industrial businesses. Founded in 2005, AIP focuses on enhancing the performance of their portfolio companies through strategic financial support and operational improvements. They have been active in various sectors, including agriculture and construction. Notably, in 2024, AIP acquired Boart Longyear, a company known for its drilling services and equipment, which is directly relevant to the earth moving equipment industry. Additionally, their acquisition of Heil Trailer International and other industrial firms demonstrates their commitment to investing in companies that support industrial operations, further solidifying their relevance in the earth moving equipment context.


10. Wynnchurch Capital, L.P.

  • Website: wynnchurch.com
  • Type: Private Equity
  • Headquarters: Rosemont, Illinois, United States (USA)
  • Founded year: 1999
  • Headcount: 11-50
  • Number of deals in 2024: 6
  • LinkedIn: wynnchurch-capital

Wynnchurch Capital, L.P. is a private equity firm based in Rosemont, Illinois, founded in 1999. The firm specializes in investments in middle-market companies across various industries, providing capital, management expertise, and strategic guidance to help businesses navigate challenges and achieve growth. Wynnchurch's focus includes sectors such as aerospace, manufacturing, and consumer goods. Notably, they have made significant investments in companies relevant to the earth moving equipment industry, including the acquisition of Hydraulic Technologies, a market leader in high-pressure hydraulic tools and equipment, which serves infrastructure and manufacturing sectors. Additionally, their acquisition of Owen Equipment Company further emphasizes their involvement in sectors that support earth moving operations. These transactions highlight Wynnchurch's commitment to investing in companies that play a crucial role in the earth moving equipment landscape.


11. The Riverside Company


The Riverside Company is a private equity investment firm based in New York, specializing in providing flexible capital solutions and strategic guidance to smaller middle-market businesses across various industries. Founded in 1988, Riverside has built a global presence, managing a diverse portfolio of over 140 companies. Notable transactions include the acquisition of Nordco, a company that provides equipment and services for the rail industry, and Hiway Group Ltd., which specializes in ground stabilization—a critical aspect of earth moving operations. Other acquisitions, such as Integrated Power Services and Welltec, further demonstrate Riverside's commitment to investing in companies that may have synergies with the earth moving equipment sector, thereby enhancing their relevance in this industry.


12. One Equity Partners

  • Website: oneequity.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2001
  • Headcount: 11-50
  • Number of deals in 2024: 11
  • LinkedIn: one-equity-partners

One Equity Partners is a private equity firm based in New York, founded in 2001, that focuses on investing in middle market businesses across various sectors, including industrial, healthcare, and technology. The firm aims to build market-leading companies through transformative business combinations and strategic partnerships, providing capital and management expertise to enhance growth. Notably, One Equity Partners has made significant investments in the earth moving equipment context, including the acquisition of Fortaco Group, a strategic partner in the heavy off-highway equipment industry, and a minority stake in CBM, an Italian manufacturer of tractor attachment equipment. These transactions highlight their active role in the earth moving equipment sector, alongside their broader investment strategy.


13. Oshkosh Corporation

  • Website: oshkoshcorp.com
  • Type: Corporate
  • Headquarters: Oshkosh, Wisconsin, United States (USA)
  • Founded year: 1917
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: oshkosh-corporation

Oshkosh Corporation is a corporate investor based in Oshkosh, Wisconsin, specializing in the design and production of specialty trucks, military vehicles, and access equipment. Founded in 1917, the company has a strong commitment to advanced technology and community engagement, employing approximately 15,000 people globally. In recent years, Oshkosh has made strategic acquisitions to enhance its product offerings in the earth moving equipment sector. Notable transactions include the acquisition of AUSA, a company specializing in compact all-terrain machines, announced on May 8, 2024, and the acquisition of Hinowa, known for its innovative mobile elevating work platforms, announced on February 2, 2023. These acquisitions, along with their ownership of JLG Industries, which is a leader in access equipment, position Oshkosh Corporation as a significant player in the earth moving equipment market.


14. Advent


Advent International Corporation is a private equity firm founded in 1984 and based in Boston, Massachusetts. The firm specializes in buyouts and investments across various sectors, focusing on long-term value creation for its portfolio companies. Advent has been involved in several significant transactions that relate to the earth moving equipment industry. For instance, they acquired Boart Longyear, a leading provider of drilling services and equipment, for $545 million in 2005. Additionally, their investment in Loxam Holding, a prominent equipment rental company, highlights their engagement in the construction and earth moving equipment sector. Advent's strategic guidance and capital support help companies navigate market challenges and achieve growth, making them a notable player in the investment landscape.


15. Blackstone

  • Website: blackstone.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1985
  • Headcount: 1001-5000
  • Number of deals in 2024: 57
  • LinkedIn: blackstonegroup

Blackstone Inc. is a prominent investment management firm based in New York, specializing in alternative investments across various sectors, including private equity, real estate, and credit solutions. Founded in 1985, Blackstone has built a reputation for delivering lasting value through its extensive portfolio and strategic investments. Notably, Blackstone has been involved in significant transactions relevant to the earth moving equipment industry, such as the acquisition of Ulterra Drilling Technologies for $700 million, which manufactures drill parts and downhole tools, indicating a direct connection to the earth moving equipment sector. Additionally, their acquisition of Gates Global, which specializes in industrial products, further showcases their interest in sectors that may overlap with earth moving equipment. Blackstone's diverse investment approach allows them to engage with various industries, making them a noteworthy player in the investment landscape.


16. Federal Signal Corporation


Federal Signal Corporation is a corporate investor based in Oak Brook, Illinois, specializing in manufacturing equipment solutions for public safety, sewer cleaning, and industrial cleaning. Founded in 1901, the company has a strong focus on innovation and sustainability, serving municipalities and contractors to maintain essential infrastructure. In recent years, Federal Signal has made significant acquisitions to enhance its position in the specialized vehicle market, including the purchase of OSW Equipment and Repair, LLC for $52.5 million, which manufactures dump truck bodies and custom truck equipment. They also acquired Ground Force Worldwide for $45 million, further solidifying their presence in the specialized vehicle sector. More recently, they signed agreements to acquire Trackless Vehicles Limited for $54 million and TowHaul Corporation for $46.1 million, both of which are expected to enhance their municipal product offerings and specialized vehicle capabilities. These transactions reflect Federal Signal's strategic intent to expand its operational capabilities in areas closely related to earth moving equipment.


17. Terex Corporation

  • Website: terex.com
  • Type: Corporate
  • Headquarters: Norwalk, Connecticut, United States (USA)
  • Founded year: 1933
  • Headcount: 5001-10000
  • Number of deals in 2024: 2
  • LinkedIn: terex

Terex Corporation is a corporate investor based in Norwalk, Connecticut, founded in 1933. The company specializes in manufacturing lifting and material-handling equipment, serving customers across construction, utilities, and environmental sectors. Terex has made several strategic acquisitions to enhance its presence in the earth moving equipment market. Notable transactions include the acquisition of Powerscreen, a heavy machinery company, in 1999, and Demag AG in 2002, both of which are significant contributors to the earth moving equipment industry. More recently, Terex acquired ProAll in 2022, further expanding its offerings in the concrete market, which is closely related to earth moving activities. These acquisitions reflect Terex's commitment to providing innovative solutions that enhance productivity and sustainability in the earth moving equipment sector.



Earth Moving Equipment Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
Alamo Group Inc.Seguin, Texas, United States (USA)1001-500019690
Y CombinatorSan Francisco, California, United States (USA)51-2002005802
Northstar CapitalMinneapolis, Minnesota, United States (USA)11-5019931
KkrNew York, New York, United States (USA)1001-5000197674
The Timken CompanyNorth, Ohio, United States (USA)10001+18991
Hexagon Asset Lifecycle IntelligenceMadison, Alabama, United States (USA)10001+19929
Platinum EquityBeverly Hills, California, United States (USA)201-500199520
Apollo Global Management, Inc.New York, New York, United States (USA)1001-5000199046
American Industrial PartnersNew York, New York, United States (USA)51-20020058
Wynnchurch Capital, L.P.Rosemont, Illinois, United States (USA)11-5019996
The Riverside CompanyNew York, New York, United States (USA)201-500198812
One Equity PartnersNew York, New York, United States (USA)11-50200111
Oshkosh CorporationOshkosh, Wisconsin, United States (USA)10001+19173
AdventBoston, Massachusetts, United States (USA)501-1000198417
BlackstoneNew York, New York, United States (USA)1001-5000198557
Federal Signal CorporationOak Brook, Illinois, United States (USA)1001-500019011
Terex CorporationNorwalk, Connecticut, United States (USA)5001-1000019332


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