Investment group buys Reyco Granning
Jan 25, 2011 9:37 AM
Reyco Granning Suspensions, a US manufacturer of suspension systems for heavy-duty vehicles, has been purchased from Tuthill Corporation in a management buyout backed by the private investment group, MAT Capital, an affiliate of MAT Holdings Inc. Reyco Granning LLC is a privately held suspension manufacturing company that produces air, steel spring, and auxiliary suspension systems for trucks, trailers, and specialty vehicle OEMs.
Founded in 1924 as Reynolds Manufacturing Company, Reyco has been designing and manufacturing suspensions systems for more than 85 years.
To facilitate the management buyout, Reyco Granning’s management team conducted a search for a partner that could not only provide financial stability, but also one with transportation industry experience that could be leveraged to ensure the long-term viability of the company.
“Our new partner brings not only financial resources, but a shared global view of the heavy-duty vehicle market,” said Ray Mueller, president, Reyco Granning. “Our senior leadership team will stay intact. This group has been in place since early 2010 and consists of both new and long-time managers that have been able to produce significant results over the past year.”
For more information, go to www.reycogranning.com.
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