Reyco Granning Suspensions, a leading U.S. manufacturer of suspension systems for heavy duty vehicles including trucks, trailers and specialty rescue, has been purchased from Tuthill Corporation in a management buyout backed by the private investment group, MAT Capital.
MAT Capital is an affiliate of MAT Holdings, a privately held company that is a global manufacturer, distributor and marketer of products in the fencing and hardware, automotive, and power equipment sectors.
The new company, Reyco Granning, is a privately held suspension manufacturing company that produces air, steel spring and auxiliary suspension systems for trucks, trailers and specialty vehicle OEMs. For generations, the Reyco and Granning brands have been associated with proven product quality, value and availability.
Founded in 1924 as Reynolds Manufacturing Company, Reyco has been designing and manufacturing suspensions systems for over 85 years.
“We are excited to have a strategic partner that shares our commitment to serve our customers and provide bright futures for our employees,” states Ray Mueller, president, Reyco Granning. Mueller has been with the company for over 25 years as vp-engineering before becoming president in 2010.
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,” says Mueller. “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.”